Assetmark Inc. Reduces Holdings in Marathon Petroleum Corporation $MPC

Assetmark Inc. lessened its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 15.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,149 shares of the oil and gas company’s stock after selling 6,722 shares during the quarter. Assetmark Inc.’s holdings in Marathon Petroleum were worth $7,353,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of MPC. Delos Wealth Advisors LLC bought a new position in shares of Marathon Petroleum in the second quarter valued at approximately $25,000. NewSquare Capital LLC boosted its holdings in Marathon Petroleum by 103.1% in the 2nd quarter. NewSquare Capital LLC now owns 199 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 101 shares during the period. WFA of San Diego LLC purchased a new position in shares of Marathon Petroleum during the 2nd quarter valued at $33,000. Transce3nd LLC grew its position in shares of Marathon Petroleum by 10,250.0% during the 2nd quarter. Transce3nd LLC now owns 207 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 205 shares in the last quarter. Finally, Stone House Investment Management LLC increased its holdings in shares of Marathon Petroleum by 46.1% in the second quarter. Stone House Investment Management LLC now owns 225 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 71 shares during the period. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

Shares of NYSE:MPC opened at $203.33 on Tuesday. The business has a fifty day moving average price of $179.12 and a 200-day moving average price of $182.49. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.32 and a quick ratio of 0.79. The company has a market capitalization of $61.12 billion, a PE ratio of 15.23, a PEG ratio of 1.32 and a beta of 0.74. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $210.32.

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

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 18th will be issued a $1.00 dividend. The ex-dividend date is Wednesday, February 18th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.0%. Marathon Petroleum’s payout ratio is 29.96%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on MPC shares. TD Cowen lifted their price objective on shares of Marathon Petroleum from $183.00 to $198.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. Scotiabank reaffirmed an “outperform” rating and set a $174.00 price target on shares of Marathon Petroleum in a research note on Friday, January 16th. Wells Fargo & Company increased their price objective on Marathon Petroleum from $213.00 to $217.00 and gave the company an “overweight” rating in a research report on Wednesday, February 4th. UBS Group restated a “buy” rating and issued a $221.00 target price on shares of Marathon Petroleum in a research report on Friday, February 6th. Finally, Raymond James Financial upped their target price on Marathon Petroleum from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Ten 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $202.19.

Marathon Petroleum 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.