Ingalls & Snyder LLC Sells 75 Shares of Marathon Petroleum Corporation $MPC

Ingalls & Snyder LLC decreased its position in Marathon Petroleum Corporation (NYSE:MPC) by 0.5% during the second quarter, HoldingsChannel.com reports. The firm owned 15,599 shares of the oil and gas company’s stock after selling 75 shares during the quarter. Ingalls & Snyder LLC’s holdings in Marathon Petroleum were worth $2,591,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Activest Wealth Management boosted its stake in Marathon Petroleum by 290.2% in the 2nd quarter. Activest Wealth Management now owns 160 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 119 shares in the last quarter. CBIZ Investment Advisory Services LLC boosted its stake in Marathon Petroleum by 1,546.2% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 201 shares in the last quarter. Hughes Financial Services LLC bought a new position in Marathon Petroleum in the 1st quarter worth about $32,000. WPG Advisers LLC bought a new position in Marathon Petroleum in the 1st quarter worth about $32,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new position in Marathon Petroleum in the 1st quarter worth about $35,000. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Trading Up 0.1%

Marathon Petroleum stock opened at $196.17 on Monday. The firm has a 50 day moving average of $183.52 and a 200 day moving average of $167.50. The firm has a market capitalization of $59.64 billion, a price-to-earnings ratio of 29.10, a P/E/G ratio of 4.11 and a beta of 0.90. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $201.61. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.74. The company had revenue of $34.10 billion during the quarter, compared to analyst estimates of $31.70 billion. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The firm’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.12 EPS. As a group, research analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were paid a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 1.9%. The ex-dividend date was Wednesday, August 20th. Marathon Petroleum’s dividend payout ratio is presently 54.01%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Dbs Bank raised Marathon Petroleum to a “moderate buy” rating in a research report on Monday, July 28th. BMO Capital Markets boosted their target price on Marathon Petroleum from $195.00 to $208.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Wells Fargo & Company assumed coverage on Marathon Petroleum in a research report on Friday, October 17th. They issued an “overweight” rating and a $214.00 target price for the company. Citigroup boosted their target price on Marathon Petroleum from $144.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 16th. Finally, Bank of America boosted their target price on Marathon Petroleum from $184.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $200.31.

Insiders Place Their Bets

In other news, insider Molly R. Benson sold 10,879 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the completion of the transaction, the insider directly owned 28,700 shares in the company, valued at approximately $4,678,100. This represents a 27.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.21% of the stock is owned by insiders.

Marathon Petroleum 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.