Janney Montgomery Scott LLC Lowers Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Janney Montgomery Scott LLC lessened its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 13.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 145,173 shares of the oil and gas company’s stock after selling 22,279 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Marathon Petroleum were worth $23,650,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Founders Financial Securities LLC lifted its position in shares of Marathon Petroleum by 22.8% during the second quarter. Founders Financial Securities LLC now owns 4,972 shares of the oil and gas company’s stock worth $863,000 after purchasing an additional 924 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of Marathon Petroleum during the first quarter worth about $97,000. Magnolia Capital Advisors LLC lifted its position in shares of Marathon Petroleum by 353.4% during the second quarter. Magnolia Capital Advisors LLC now owns 55,989 shares of the oil and gas company’s stock worth $9,713,000 after purchasing an additional 43,639 shares in the last quarter. Granite Bay Wealth Management LLC acquired a new stake in shares of Marathon Petroleum during the second quarter worth about $4,075,000. Finally, ORG Partners LLC acquired a new stake in shares of Marathon Petroleum during the second quarter worth about $513,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of MPC opened at $144.94 on Tuesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 1.31. The stock has a market capitalization of $48.51 billion, a P/E ratio of 7.62, a P/E/G ratio of 2.78 and a beta of 1.38. The company’s fifty day moving average is $162.00 and its two-hundred day moving average is $170.76. Marathon Petroleum Co. has a 1 year low of $140.98 and a 1 year high of $221.11.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.09 by $1.03. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The company had revenue of $38.36 billion for the quarter, compared to analysts’ expectations of $36.66 billion. During the same period in the previous year, the company posted $5.32 EPS. Marathon Petroleum’s revenue was up 4.2% compared to the same quarter last year. On average, sell-side analysts predict that Marathon Petroleum Co. will post 8.71 earnings per share for the current year.

Marathon Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be paid a dividend of $0.91 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.51%. Marathon Petroleum’s dividend payout ratio is 19.13%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Jefferies Financial Group raised their target price on shares of Marathon Petroleum from $222.00 to $231.00 and gave the company a “buy” rating in a report on Monday, July 15th. Scotiabank reduced their target price on shares of Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Wells Fargo & Company reduced their target price on shares of Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. JPMorgan Chase & Co. cut their price objective on shares of Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Finally, Wolfe Research started coverage on shares of Marathon Petroleum in a report on Thursday, July 18th. They set an “outperform” rating and a $200.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus 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.