Flagship Harbor Advisors LLC Trims Stake in Marathon Petroleum Corporation $MPC

Flagship Harbor Advisors LLC reduced its position in Marathon Petroleum Corporation (NYSE:MPC) by 1.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 5,562 shares of the oil and gas company’s stock after selling 75 shares during the period. Flagship Harbor Advisors LLC’s holdings in Marathon Petroleum were worth $924,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Baker Tilly Wealth Management LLC lifted its holdings in shares of Marathon Petroleum by 2.8% in the 2nd quarter. Baker Tilly Wealth Management LLC now owns 2,226 shares of the oil and gas company’s stock valued at $370,000 after purchasing an additional 60 shares during the last quarter. CHICAGO TRUST Co NA lifted its holdings in shares of Marathon Petroleum by 3.9% in the 2nd quarter. CHICAGO TRUST Co NA now owns 1,684 shares of the oil and gas company’s stock valued at $280,000 after purchasing an additional 63 shares during the last quarter. Werba Rubin Papier Wealth Management lifted its holdings in shares of Marathon Petroleum by 4.2% in the 2nd quarter. Werba Rubin Papier Wealth Management now owns 1,577 shares of the oil and gas company’s stock valued at $262,000 after purchasing an additional 64 shares during the last quarter. Sunpointe LLC lifted its holdings in shares of Marathon Petroleum by 4.1% in the 2nd quarter. Sunpointe LLC now owns 1,750 shares of the oil and gas company’s stock valued at $291,000 after purchasing an additional 69 shares during the last quarter. Finally, Wallace Advisory Group LLC lifted its holdings in shares of Marathon Petroleum by 3.4% in the 2nd quarter. Wallace Advisory Group LLC now owns 2,258 shares of the oil and gas company’s stock valued at $375,000 after purchasing an additional 75 shares during the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MPC. Wells Fargo & Company began coverage on Marathon Petroleum in a research report on Friday, October 17th. They issued an “overweight” rating and a $214.00 price target on the stock. Raymond James Financial restated an “outperform” rating and issued a $203.00 price target (up previously from $199.00) on shares of Marathon Petroleum in a research report on Friday, October 17th. Morgan Stanley boosted their price target on Marathon Petroleum from $182.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, October 3rd. Wolfe Research cut Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 14th. Finally, Dbs Bank upgraded Marathon Petroleum to a “moderate buy” rating in a research report on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, Marathon Petroleum currently has an average rating of “Moderate Buy” and an average target price of $200.31.

Marathon Petroleum Stock Performance

NYSE MPC opened at $195.64 on Friday. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. The business’s 50 day moving average is $185.96 and its two-hundred day moving average is $169.14. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $201.61. The stock has a market capitalization of $59.48 billion, a price-to-earnings ratio of 29.03, a PEG ratio of 4.10 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.74. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The company had revenue of $34.10 billion for the quarter, compared to analysts’ expectations of $31.70 billion. During the same quarter in the previous year, the firm posted $4.12 EPS. The firm’s quarterly revenue was down 11.1% on a year-over-year basis. Research analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 19th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.0%. The ex-dividend date is Wednesday, November 19th. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.91. Marathon Petroleum’s payout ratio is presently 54.01%.

Insider Activity at Marathon Petroleum

In other news, insider Molly R. Benson sold 10,879 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the sale, the insider owned 28,700 shares of the company’s stock, valued at $4,678,100. The trade was a 27.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.21% of the stock is owned by company insiders.

About Marathon Petroleum

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.