Reaves W H & Co. Inc. Sells 50,000 Shares of Marathon Petroleum Corporation $MPC

Reaves W H & Co. Inc. reduced its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 33.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 100,000 shares of the oil and gas company’s stock after selling 50,000 shares during the quarter. Reaves W H & Co. Inc.’s holdings in Marathon Petroleum were worth $19,274,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MPC. Brighton Jones LLC grew its holdings in shares of Marathon Petroleum by 30.9% during the 4th quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock valued at $696,000 after purchasing an additional 1,178 shares during the last quarter. Woodline Partners LP boosted its position in Marathon Petroleum by 38.3% in the first quarter. Woodline Partners LP now owns 26,697 shares of the oil and gas company’s stock valued at $3,889,000 after buying an additional 7,396 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in shares of Marathon Petroleum by 26.6% during the second quarter. Sivia Capital Partners LLC now owns 2,221 shares of the oil and gas company’s stock worth $369,000 after buying an additional 466 shares in the last quarter. Callan Family Office LLC lifted its stake in shares of Marathon Petroleum by 156.8% in the 2nd quarter. Callan Family Office LLC now owns 8,466 shares of the oil and gas company’s stock valued at $1,406,000 after acquiring an additional 5,169 shares during the last quarter. Finally, Aberdeen Group plc boosted its holdings in shares of Marathon Petroleum by 4.4% during the 2nd quarter. Aberdeen Group plc now owns 145,842 shares of the oil and gas company’s stock valued at $24,307,000 after acquiring an additional 6,083 shares in the last quarter. Institutional investors own 76.77% of the company’s stock.

Analysts Set New Price Targets

MPC has been the subject of a number of recent research reports. UBS Group reaffirmed a “buy” rating and issued a $221.00 target price on shares of Marathon Petroleum in a report on Friday. Barclays lowered their price objective on Marathon Petroleum from $202.00 to $194.00 and set an “overweight” rating for the company in a research note on Tuesday, January 13th. Zacks Research downgraded shares of Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Mizuho upped their price target on shares of Marathon Petroleum from $198.00 to $205.00 and gave the company a “neutral” rating in a research report on Tuesday, January 13th. Finally, Piper Sandler dropped their price target on shares of Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Ten equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $202.19.

Marathon Petroleum Trading Up 0.6%

NYSE:MPC opened at $204.28 on Tuesday. Marathon Petroleum Corporation has a 52 week low of $115.10 and a 52 week high of $206.45. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.79 and a current ratio of 1.32. The firm’s fifty day moving average is $177.81 and its 200-day moving average is $181.40. The firm has a market cap of $61.41 billion, a P/E ratio of 15.30, a P/E/G ratio of 1.38 and a beta of 0.74.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, February 3rd. The oil and gas company reported $4.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.73 by $0.34. Marathon Petroleum had a net margin of 2.99% and a return on equity of 14.00%. The business had revenue of $35.10 billion for the quarter, compared to analyst estimates of $30.89 billion. During the same quarter in the previous year, the business earned $0.77 earnings per share. Marathon Petroleum’s revenue for the quarter was down .1% on a year-over-year basis. Equities analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

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 paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, February 18th. This represents a $4.00 annualized dividend and a yield of 2.0%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 29.96%.

About Marathon Petroleum

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.