Occidental Asset Management LLC Boosts Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

Occidental Asset Management LLC lifted its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 42.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,716 shares of the oil and gas company’s stock after acquiring an additional 510 shares during the quarter. Occidental Asset Management LLC’s holdings in Marathon Petroleum were worth $280,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Creative Planning increased its stake in shares of Marathon Petroleum by 0.5% in the third quarter. Creative Planning now owns 156,925 shares of the oil and gas company’s stock worth $25,565,000 after purchasing an additional 840 shares in the last quarter. CX Institutional grew its holdings in Marathon Petroleum by 25.3% during the 3rd quarter. CX Institutional now owns 33,182 shares of the oil and gas company’s stock valued at $5,406,000 after buying an additional 6,705 shares in the last quarter. Grove Bank & Trust increased its position in shares of Marathon Petroleum by 33.9% during the third quarter. Grove Bank & Trust now owns 2,538 shares of the oil and gas company’s stock valued at $413,000 after buying an additional 643 shares during the period. Empirical Asset Management LLC lifted its holdings in shares of Marathon Petroleum by 4.1% in the third quarter. Empirical Asset Management LLC now owns 4,522 shares of the oil and gas company’s stock worth $737,000 after buying an additional 180 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased a new position in Marathon Petroleum during the third quarter valued at approximately $76,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. BMO Capital Markets reduced their price target on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Citigroup decreased their target price on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating on the stock in a research note on Thursday, October 10th. JPMorgan Chase & Co. dropped their price target on Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Morgan Stanley lowered 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 note on Monday, September 16th. Finally, Mizuho dropped their price objective on shares of Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $190.73.

Marathon Petroleum Price Performance

Shares of Marathon Petroleum stock opened at $157.06 on Wednesday. The business has a 50 day moving average of $168.62 and a 200 day moving average of $176.48. Marathon Petroleum Co. has a 52 week low of $140.98 and a 52 week high of $221.11. The company has a market cap of $55.34 billion, a PE ratio of 7.85, a P/E/G ratio of 2.65 and a beta of 1.37. The company has a quick ratio of 0.90, a current ratio of 1.31 and a debt-to-equity ratio of 0.86.

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 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 analysts’ expectations 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 period in the previous year, the firm posted $5.32 EPS. As a group, equities research analysts forecast that Marathon Petroleum Co. will post 10.22 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were issued a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend was Wednesday, August 21st. Marathon Petroleum’s payout ratio is 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.