Trueblood Wealth Management LLC Decreases Stake in Marathon Petroleum Co. (NYSE:MPC)

Trueblood Wealth Management LLC trimmed its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 5.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,824 shares of the oil and gas company’s stock after selling 300 shares during the period. Trueblood Wealth Management LLC’s holdings in Marathon Petroleum were worth $786,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its position in shares of Marathon Petroleum by 19,153.8% in the 3rd quarter. International Assets Investment Management LLC now owns 1,311,182 shares of the oil and gas company’s stock valued at $213,605,000 after purchasing an additional 1,304,372 shares during the last quarter. Granite Bay Wealth Management LLC purchased a new position in Marathon Petroleum in the second quarter valued at $219,537,000. Capital Wealth Planning LLC raised its stake in Marathon Petroleum by 10,902.9% in the first quarter. Capital Wealth Planning LLC now owns 1,110,630 shares of the oil and gas company’s stock valued at $223,792,000 after buying an additional 1,100,536 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Marathon Petroleum by 980.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 684,718 shares of the oil and gas company’s stock worth $118,785,000 after buying an additional 621,336 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its position in shares of Marathon Petroleum by 64.1% during the 2nd quarter. Panagora Asset Management Inc. now owns 619,049 shares of the oil and gas company’s stock worth $107,393,000 after acquiring an additional 241,746 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Wall Street Analyst Weigh In

MPC has been the topic of several research analyst reports. TD Cowen raised their target price on Marathon Petroleum from $187.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Mizuho reduced their price objective on shares of Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Scotiabank lowered their target price on shares of Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Bank of America initiated coverage on shares of Marathon Petroleum in a research note on Thursday, October 17th. They set a “neutral” rating and a $174.00 price target on the stock. Finally, BMO Capital Markets decreased their price objective on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Two analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Marathon Petroleum has an average rating of “Moderate Buy” and a consensus target price of $187.00.

Marathon Petroleum Stock Down 0.3 %

MPC stock opened at $152.36 on Friday. Marathon Petroleum Co. has a one year low of $140.98 and a one year high of $221.11. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 1.31. The company has a fifty day moving average of $165.92 and a 200-day moving average of $174.24. The stock has a market capitalization of $50.99 billion, a PE ratio of 8.01, a price-to-earnings-growth ratio of 3.03 and a beta of 1.37.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $1.03. The company had revenue of $38.36 billion for the quarter, compared to analyst estimates of $36.66 billion. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.32 EPS. As a group, analysts expect that Marathon Petroleum Co. will post 8.71 EPS for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were given a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 2.17%. The ex-dividend date was Wednesday, August 21st. Marathon Petroleum’s payout ratio is 17.34%.

Marathon Petroleum Profile

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.