Moors & Cabot Inc. Sells 904 Shares of Marathon Petroleum Corporation $MPC

by · The Cerbat Gem

Moors & Cabot Inc. cut its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC – Free Report) by 10.2% in the second quarter, Holdings Channel reports. The institutional investor owned 7,942 shares of the oil and gas company’s stock after selling 904 shares during the quarter. Moors & Cabot Inc.’s holdings in Marathon Petroleum were worth $1,319,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Activest Wealth Management boosted its holdings in Marathon Petroleum by 290.2% in the 2nd quarter. Activest Wealth Management now owns 160 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 119 shares during the period. CBIZ Investment Advisory Services LLC increased its holdings in shares of Marathon Petroleum by 1,546.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 201 shares during the period. Hughes Financial Services LLC acquired a new position in shares of Marathon Petroleum during the first quarter valued at about $32,000. WPG Advisers LLC acquired a new position in shares of Marathon Petroleum during the first quarter valued at about $32,000. Finally, NewSquare Capital LLC lifted its stake in shares of Marathon Petroleum by 103.1% in the second quarter. NewSquare Capital LLC now owns 199 shares of the oil and gas company’s stock valued at $33,000 after buying an additional 101 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Insiders Place Their Bets

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the business’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $163.00, for a total value of $1,773,277.00. Following the completion of the transaction, the insider directly owned 28,700 shares of the company’s stock, valued at approximately $4,678,100. The trade was a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.21% of the company’s stock.

Marathon Petroleum Stock Up 3.5%

Shares of Marathon Petroleum stock opened at $192.67 on Friday. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $201.61. The business has a fifty day simple moving average of $187.58 and a 200 day simple moving average of $171.41. The company has a quick ratio of 0.71, a current ratio of 1.32 and a debt-to-equity ratio of 1.31. The stock has a market cap of $57.92 billion, a PE ratio of 20.54, a price-to-earnings-growth ratio of 3.65 and a beta of 0.90.

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

Marathon Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Wednesday, November 19th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, November 19th. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.91. Marathon Petroleum’s dividend payout ratio (DPR) is 54.01%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. BMO Capital Markets lifted their price objective on Marathon Petroleum from $195.00 to $208.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Citigroup lifted their price target on shares of Marathon Petroleum from $144.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 16th. Barclays increased their price objective on shares of Marathon Petroleum from $176.00 to $194.00 and gave the company an “overweight” rating in a research note on Monday, October 13th. Morgan Stanley lifted their target price on shares of Marathon Petroleum from $182.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, October 3rd. Finally, TD Cowen lowered their target price on shares of Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Eight analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and an average target price of $200.00.

View Our Latest Stock Report on MPC

About Marathon Petroleum

(Free Report)

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.

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