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

Sitrin Capital Management LLC lowered its position in Marathon Petroleum Co. (NYSE:MPC) by 0.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,605 shares of the oil and gas company’s stock after selling 183 shares during the period. Marathon Petroleum comprises approximately 2.6% of Sitrin Capital Management LLC’s holdings, making the stock its 23rd largest position. Sitrin Capital Management LLC’s holdings in Marathon Petroleum were worth $5,149,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. FinTrust Capital Advisors LLC increased its holdings in Marathon Petroleum by 400.0% during the 1st quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 100 shares in the last quarter. Crewe Advisors LLC purchased a new position in Marathon Petroleum during the first quarter worth $29,000. TruNorth Capital Management LLC acquired a new position in shares of Marathon Petroleum in the second quarter worth $35,000. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Marathon Petroleum in the second quarter valued at $35,000. Finally, Wellington Shields & Co. LLC acquired a new stake in shares of Marathon Petroleum during the first quarter valued at $40,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Analyst Upgrades and Downgrades

MPC has been the subject of several recent analyst reports. Wells Fargo & Company lowered their target price on shares of Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Tudor Pickering lowered Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, September 9th. Wolfe Research began coverage on Marathon Petroleum in a report on Thursday, July 18th. They issued an “outperform” rating and a $200.00 price target for the company. Morgan Stanley decreased their target price on shares of Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Finally, Piper Sandler dropped their price target on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $187.00.

Marathon Petroleum Stock Down 0.2 %

Shares of MPC stock traded down $0.34 during mid-day trading on Friday, reaching $145.13. 255,218 shares of the company were exchanged, compared to its average volume of 2,659,851. The company has a market capitalization of $48.57 billion, a P/E ratio of 7.64, a P/E/G ratio of 2.77 and a beta of 1.37. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 1.31. Marathon Petroleum Co. has a fifty-two week low of $140.98 and a fifty-two week high of $221.11. The business’s 50 day simple moving average is $163.21 and its 200 day simple moving average is $172.00.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, topping the consensus estimate of $3.09 by $1.03. The company had revenue of $38.36 billion during the quarter, compared to analyst estimates of $36.66 billion. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The business’s revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the firm earned $5.32 EPS. 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. Investors of record on Wednesday, November 20th will be paid a dividend of $0.91 per share. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, November 20th. This represents a $3.64 annualized dividend and a yield of 2.51%. Marathon Petroleum’s dividend payout ratio is 17.34%.

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.