Spirit of America Management Corp NY Sells 2,200 Shares of Marathon Petroleum Corporation $MPC

Spirit of America Management Corp NY lowered its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 5.3% during the 4th quarter, HoldingsChannel reports. The fund owned 39,575 shares of the oil and gas company’s stock after selling 2,200 shares during the period. Marathon Petroleum accounts for approximately 1.4% of Spirit of America Management Corp NY’s portfolio, making the stock its 15th biggest holding. Spirit of America Management Corp NY’s holdings in Marathon Petroleum were worth $6,436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Silver Oak Securities Incorporated boosted its position in shares of Marathon Petroleum by 17.8% in the 4th quarter. Silver Oak Securities Incorporated now owns 2,824 shares of the oil and gas company’s stock worth $463,000 after purchasing an additional 426 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Marathon Petroleum by 2.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 23,220 shares of the oil and gas company’s stock valued at $3,835,000 after buying an additional 533 shares in the last quarter. Brookstone Capital Management increased its position in Marathon Petroleum by 1.5% during the 4th quarter. Brookstone Capital Management now owns 7,867 shares of the oil and gas company’s stock valued at $1,279,000 after buying an additional 120 shares in the last quarter. ORG Partners LLC raised its stake in Marathon Petroleum by 160.0% during the fourth quarter. ORG Partners LLC now owns 4,199 shares of the oil and gas company’s stock valued at $684,000 after buying an additional 2,584 shares during the last quarter. Finally, Enterprise Financial Services Corp raised its stake in Marathon Petroleum by 21.2% during the fourth quarter. Enterprise Financial Services Corp now owns 1,689 shares of the oil and gas company’s stock valued at $275,000 after buying an additional 295 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Insider Activity

In other news, insider Ricky D. Hessling sold 1,626 shares of Marathon Petroleum stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $228.18, for a total value of $371,020.68. Following the completion of the sale, the insider directly owned 7,525 shares in the company, valued at $1,717,054.50. The trade was a 17.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders have sold 4,473 shares of company stock worth $1,015,428. Company insiders own 0.17% of the company’s stock.

Marathon Petroleum Stock Down 2.6%

Marathon Petroleum stock opened at $245.28 on Tuesday. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $255.77. The stock has a fifty day simple moving average of $207.07 and a two-hundred day simple moving average of $192.87. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 1.27. The firm has a market cap of $72.23 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 0.53 and a beta of 0.69.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, February 3rd. The oil and gas company reported $4.07 EPS for the quarter, beating the consensus estimate of $3.73 by $0.34. Marathon Petroleum had a return on equity of 13.90% and a net margin of 2.99%.The company had revenue of $32.57 billion for the quarter, compared to analysts’ expectations of $30.89 billion. During the same period last year, the firm posted $0.77 earnings per share. Marathon Petroleum’s revenue was down .1% compared to the same quarter last year. Equities analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 18th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Wednesday, February 18th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 29.96%.

Analyst Upgrades and Downgrades

MPC has been the topic of a number of recent research reports. Zacks Research cut Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Weiss Ratings lowered Marathon Petroleum from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, March 19th. Wells Fargo & Company upped their price target on shares of Marathon Petroleum from $213.00 to $217.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 4th. Barclays cut their price objective on shares of Marathon Petroleum from $202.00 to $194.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 13th. Finally, Jefferies Financial Group decreased their target price on shares of Marathon Petroleum from $216.00 to $205.00 and set a “buy” rating for the company in a report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, Marathon Petroleum has a consensus rating of “Moderate Buy” and a consensus target price of $209.19.

Marathon Petroleum Company 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.