Prossimo Advisors LLC Cuts Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Prossimo Advisors LLC lessened its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 2.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,737 shares of the oil and gas company’s stock after selling 80 shares during the period. Prossimo Advisors LLC’s holdings in Marathon Petroleum were worth $609,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Pure Financial Advisors LLC purchased a new stake in Marathon Petroleum during the 3rd quarter worth approximately $718,000. Princeton Global Asset Management LLC grew its position in Marathon Petroleum by 2.8% during the 3rd quarter. Princeton Global Asset Management LLC now owns 24,420 shares of the oil and gas company’s stock worth $3,978,000 after purchasing an additional 658 shares during the last quarter. swisspartners Advisors Ltd grew its position in Marathon Petroleum by 1.1% during the 3rd quarter. swisspartners Advisors Ltd now owns 19,725 shares of the oil and gas company’s stock worth $3,213,000 after purchasing an additional 220 shares during the last quarter. Chicago Partners Investment Group LLC grew its position in Marathon Petroleum by 0.8% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 14,818 shares of the oil and gas company’s stock worth $2,278,000 after purchasing an additional 118 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its position in Marathon Petroleum by 42.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,459 shares of the oil and gas company’s stock worth $564,000 after purchasing an additional 1,038 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

MPC opened at $143.13 on Friday. 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 has a market cap of $47.90 billion, a price-to-earnings ratio of 7.52, a PEG ratio of 2.78 and a beta of 1.38. Marathon Petroleum Co. has a 52-week low of $140.98 and a 52-week high of $221.11. The firm’s fifty day simple moving average is $162.57 and its two-hundred day simple moving average is $171.33.

Marathon Petroleum (NYSE:MPC) last posted 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. The business had revenue of $38.36 billion for 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 was up 4.2% compared to the same quarter last year. During the same period last year, the firm posted $5.32 earnings per share. Equities analysts anticipate that Marathon Petroleum Co. will post 8.71 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 2.54%. This is an increase 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 (DPR) is presently 17.34%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. BMO Capital Markets dropped their price objective on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Scotiabank dropped their price objective 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. TD Cowen upped their price objective on shares of Marathon Petroleum from $187.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Bank of America assumed coverage on shares of Marathon Petroleum in a report on Thursday, October 17th. They issued a “neutral” rating and a $174.00 price objective on the stock. Finally, Tudor Pickering downgraded shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a report on Monday, September 9th. 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.