Spirit of America Management Corp NY Has $8.05 Million Position in Marathon Petroleum Corporation $MPC

Spirit of America Management Corp NY reduced its stake in Marathon Petroleum Corporation (NYSE:MPC) by 8.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,775 shares of the oil and gas company’s stock after selling 3,950 shares during the quarter. Marathon Petroleum accounts for 1.6% of Spirit of America Management Corp NY’s portfolio, making the stock its 8th largest position. Spirit of America Management Corp NY’s holdings in Marathon Petroleum were worth $8,052,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Marathon Petroleum by 11.2% in the second quarter. Vanguard Group Inc. now owns 38,866,104 shares of the oil and gas company’s stock valued at $6,456,049,000 after purchasing an additional 3,924,713 shares in the last quarter. Norges Bank acquired a new stake in Marathon Petroleum in the 2nd quarter valued at approximately $527,197,000. Geode Capital Management LLC lifted its stake in Marathon Petroleum by 14.8% in the 2nd quarter. Geode Capital Management LLC now owns 8,013,213 shares of the oil and gas company’s stock valued at $1,325,598,000 after acquiring an additional 1,033,645 shares in the last quarter. Boston Partners boosted its position in Marathon Petroleum by 13.1% during the 2nd quarter. Boston Partners now owns 6,163,737 shares of the oil and gas company’s stock worth $1,024,395,000 after acquiring an additional 715,223 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its stake in shares of Marathon Petroleum by 27,979.8% during the 2nd quarter. Balyasny Asset Management L.P. now owns 659,595 shares of the oil and gas company’s stock worth $109,565,000 after acquiring an additional 657,246 shares in the last quarter. Institutional investors own 76.77% of the company’s stock.

Analyst Upgrades and Downgrades

MPC has been the topic of a number of research reports. Bank of America boosted their price objective on shares of Marathon Petroleum from $184.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 3rd. Scotiabank restated an “outperform” rating on shares of Marathon Petroleum in a research note on Thursday, October 9th. Wells Fargo & Company lowered their target price on Marathon Petroleum from $214.00 to $213.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Evercore ISI upped their target price on Marathon Petroleum from $170.00 to $210.00 and gave the stock an “in-line” rating in a report on Friday, September 19th. Finally, Raymond James Financial decreased their price target on Marathon Petroleum from $215.00 to $205.00 and set an “outperform” rating for the company in a research note on Monday. Eight investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $203.07.

Marathon Petroleum Trading Down 0.4%

Marathon Petroleum stock opened at $165.73 on Friday. The stock has a 50-day simple moving average of $188.27 and a 200 day simple moving average of $180.05. The stock has a market capitalization of $49.82 billion, a P/E ratio of 17.67, a PEG ratio of 0.87 and a beta of 0.72. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.79 and a current ratio of 1.32. Marathon Petroleum Corporation has a 52 week low of $115.10 and a 52 week high of $202.29.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.00 by $0.01. Marathon Petroleum had a return on equity of 9.76% and a net margin of 2.13%.The company had revenue of $34.81 billion during the quarter, compared to analysts’ expectations of $31.06 billion. Analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 19th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.4%. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend was Wednesday, November 19th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 42.64%.

Marathon Petroleum Profile

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.