Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Sitrin Capital Management LLC

Sitrin Capital Management LLC cut its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 0.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 31,605 shares of the oil and gas company’s stock after selling 183 shares during the period. Marathon Petroleum accounts for approximately 2.6% of Sitrin Capital Management LLC’s portfolio, making the stock its 23rd biggest holding. Sitrin Capital Management LLC’s holdings in Marathon Petroleum were worth $5,149,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Raymond James & Associates raised its position in shares of Marathon Petroleum by 2.6% during the 2nd quarter. Raymond James & Associates now owns 4,286,892 shares of the oil and gas company’s stock worth $743,690,000 after buying an additional 107,915 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Marathon Petroleum by 1.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,080,958 shares of the oil and gas company’s stock worth $620,815,000 after purchasing an additional 31,100 shares in the last quarter. Boston Partners lifted its position in Marathon Petroleum by 0.3% in the first quarter. Boston Partners now owns 2,773,050 shares of the oil and gas company’s stock worth $558,390,000 after purchasing an additional 8,476 shares during the period. Pacer Advisors Inc. boosted its stake in Marathon Petroleum by 8.5% during the 2nd quarter. Pacer Advisors Inc. now owns 2,669,815 shares of the oil and gas company’s stock valued at $463,160,000 after purchasing an additional 209,270 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of Marathon Petroleum by 7.6% in the 1st quarter. Acadian Asset Management LLC now owns 1,663,835 shares of the oil and gas company’s stock worth $335,241,000 after buying an additional 117,790 shares in the last quarter. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Stock Performance

MPC stock traded down $0.34 during midday trading on Friday, hitting $145.13. 255,218 shares of the company traded hands, compared to its average volume of 2,659,851. The business has a 50 day simple moving average of $163.21 and a 200-day simple moving average of $172.00. The company has a quick ratio of 0.90, a current ratio of 1.31 and a debt-to-equity ratio of 0.86. Marathon Petroleum Co. has a twelve month low of $140.98 and a twelve month high of $221.11. The stock has a market capitalization of $48.57 billion, a price-to-earnings ratio of 7.64, a price-to-earnings-growth ratio of 2.77 and a beta of 1.37.

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

Marathon Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.51%. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, November 20th. Marathon Petroleum’s dividend payout ratio is currently 17.34%.

Wall Street Analyst Weigh In

MPC has been the subject of several research reports. Citigroup decreased their target price on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Barclays dropped their target price on shares of Marathon Petroleum from $180.00 to $168.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. TD Cowen increased their target price on shares of Marathon Petroleum from $187.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Bank of America began coverage on Marathon Petroleum in a report on Thursday, October 17th. They issued a “neutral” rating and a $174.00 price target on the stock. Finally, Morgan Stanley reduced their price objective on Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $187.00.

Marathon Petroleum Company 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.