Massachusetts Financial Services Co. MA Cuts Stake in Marathon Petroleum Co. (NYSE:MPC)

Massachusetts Financial Services Co. MA lessened its stake in Marathon Petroleum Co. (NYSE:MPC) by 98.5% in the second quarter, HoldingsChannel.com reports. The firm owned 1,418 shares of the oil and gas company’s stock after selling 95,938 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Marathon Petroleum were worth $246,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in MPC. Capital Wealth Planning LLC increased its holdings in Marathon Petroleum by 1.7% during the 2nd quarter. Capital Wealth Planning LLC now owns 1,129,690 shares of the oil and gas company’s stock valued at $195,979,000 after acquiring an additional 19,060 shares in the last quarter. Brown Brothers Harriman & Co. boosted its stake in shares of Marathon Petroleum by 378.9% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 3,338 shares of the oil and gas company’s stock worth $579,000 after purchasing an additional 2,641 shares during the last quarter. Thoroughbred Financial Services LLC boosted its stake in shares of Marathon Petroleum by 28.8% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 35,097 shares of the oil and gas company’s stock worth $6,088,000 after purchasing an additional 7,838 shares during the last quarter. Dai ichi Life Insurance Company Ltd boosted its stake in shares of Marathon Petroleum by 8.0% during the 2nd quarter. Dai ichi Life Insurance Company Ltd now owns 6,269 shares of the oil and gas company’s stock worth $1,088,000 after purchasing an additional 467 shares during the last quarter. Finally, Mcintyre Freedman & Flynn Investment Advisers Inc. boosted its stake in shares of Marathon Petroleum by 0.3% during the 2nd quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 51,322 shares of the oil and gas company’s stock worth $8,903,000 after purchasing an additional 141 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Wall Street Analysts Forecast Growth

MPC has been the topic of several research analyst reports. StockNews.com cut shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. Mizuho cut their price target on shares of Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. TD Cowen lifted their price objective 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. Tudor Pickering lowered shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, September 9th. Finally, Morgan Stanley dropped their price target on shares of 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 analysts have rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Marathon Petroleum presently has a consensus rating of “Hold” and an average target price of $197.69.

Marathon Petroleum Stock Performance

Shares of MPC opened at $164.21 on Tuesday. Marathon Petroleum Co. has a 1 year low of $139.32 and a 1 year high of $221.11. The company has a market cap of $57.86 billion, a price-to-earnings ratio of 8.20, a price-to-earnings-growth ratio of 2.09 and a beta of 1.38. 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 firm has a fifty day moving average of $169.94 and a 200-day moving average of $179.73.

Marathon Petroleum (NYSE:MPC) last announced 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. The company had revenue of $38.36 billion during the quarter, compared to the consensus estimate of $36.66 billion. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.32 earnings per share. As a group, equities analysts anticipate that Marathon Petroleum Co. will post 12.68 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were issued a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 2.01%. The ex-dividend date was Wednesday, August 21st. Marathon Petroleum’s payout ratio is currently 16.48%.

About Marathon Petroleum

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.