Sara Bay Financial Sells 597 Shares of Marathon Petroleum Co. (NYSE:MPC)

Sara Bay Financial decreased its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 13.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,743 shares of the oil and gas company’s stock after selling 597 shares during the quarter. Sara Bay Financial’s holdings in Marathon Petroleum were worth $610,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. FinTrust Capital Advisors LLC increased its stake in Marathon Petroleum by 400.0% in the first quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 100 shares in the last quarter. Crewe Advisors LLC acquired a new position in Marathon Petroleum during the 1st quarter worth approximately $29,000. Vima LLC bought a new position in Marathon Petroleum in the fourth quarter worth approximately $30,000. TruNorth Capital Management LLC acquired a new stake in Marathon Petroleum in the second quarter valued at approximately $35,000. Finally, Industrial Alliance Investment Management Inc. bought a new stake in shares of Marathon Petroleum during the second quarter valued at approximately $35,000. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

MPC traded up $1.26 during trading hours on Monday, hitting $173.24. The stock had a trading volume of 2,200,747 shares, compared to its average volume of 2,694,485. The stock has a market cap of $61.04 billion, a PE ratio of 8.67, a price-to-earnings-growth ratio of 2.59 and a beta of 1.37. Marathon Petroleum Co. has a 1 year low of $140.98 and a 1 year high of $221.11. The company has a quick ratio of 0.90, a current ratio of 1.31 and a debt-to-equity ratio of 0.86. The company’s fifty day simple moving average is $169.69 and its 200 day simple moving average is $178.25.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results 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 analyst estimates of $36.66 billion. During the same quarter in the previous year, the firm posted $5.32 earnings per share. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. Equities analysts anticipate that Marathon Petroleum Co. will post 10.56 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were given a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 1.90%. The ex-dividend date was Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio is presently 16.48%.

Analyst Ratings Changes

A number of research firms have weighed in on MPC. Tudor, Pickering, Holt & Co. lowered shares of Marathon Petroleum from a “buy” rating to a “sell” rating in a research note on Monday, September 9th. StockNews.com lowered shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. BMO Capital Markets cut their price target on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday. Barclays decreased their price objective on shares of Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating for the company in a research note on Monday, July 1st. Finally, JPMorgan Chase & Co. cut their target price on Marathon Petroleum from $186.00 to $172.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $196.14.

Marathon Petroleum 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.