Oppenheimer & Co. Inc. Sells 2,470 Shares of Marathon Petroleum Corporation $MPC

Oppenheimer & Co. Inc. decreased its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 2.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 122,371 shares of the oil and gas company’s stock after selling 2,470 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Marathon Petroleum were worth $23,586,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Delos Wealth Advisors LLC purchased a new stake in Marathon Petroleum in the second quarter worth approximately $25,000. Activest Wealth Management lifted its holdings in shares of Marathon Petroleum by 290.2% during the 2nd quarter. Activest Wealth Management now owns 160 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 119 shares during the period. NewSquare Capital LLC boosted its stake in shares of Marathon Petroleum by 103.1% in the 2nd quarter. NewSquare Capital LLC now owns 199 shares of the oil and gas company’s stock worth $33,000 after buying an additional 101 shares during the last quarter. WFA of San Diego LLC bought a new stake in shares of Marathon Petroleum in the second quarter worth $33,000. Finally, Transce3nd LLC increased its position in Marathon Petroleum by 10,250.0% during the second quarter. Transce3nd LLC now owns 207 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 205 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of NYSE MPC opened at $203.25 on Monday. The stock has a market cap of $61.10 billion, a PE ratio of 15.22, a price-to-earnings-growth ratio of 1.38 and a beta of 0.74. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $204.37. The firm has a fifty day moving average price of $177.64 and a 200-day moving average price of $181.17. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.32 and a quick ratio of 0.79.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, February 3rd. The oil and gas company reported $4.07 earnings per share for the quarter, topping the consensus estimate of $3.73 by $0.34. The company had revenue of $35.10 billion during the quarter, compared to the consensus estimate of $30.89 billion. Marathon Petroleum had a net margin of 2.99% and a return on equity of 14.00%. Marathon Petroleum’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.77 EPS. Equities analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Wednesday, February 18th will be given a dividend of $1.00 per share. The ex-dividend date is Wednesday, February 18th. This represents a $4.00 annualized dividend and a dividend yield of 2.0%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 29.96%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Marathon Petroleum in a research report on Thursday, January 22nd. Piper Sandler dropped their price objective on shares of Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Wall Street Zen cut shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. BMO Capital Markets decreased their price target on shares of Marathon Petroleum from $208.00 to $200.00 and set an “outperform” rating on the stock in a research report on Monday, January 12th. Finally, Barclays cut their price objective on shares of Marathon Petroleum from $202.00 to $194.00 and set an “overweight” rating for the company in a research report on Tuesday, January 13th. Ten investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.88.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.