Summit Investment Advisors Inc. Cuts Holdings in Marathon Petroleum Corporation $MPC

Summit Investment Advisors Inc. lessened its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 11.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,061 shares of the oil and gas company’s stock after selling 384 shares during the period. Summit Investment Advisors Inc.’s holdings in Marathon Petroleum were worth $446,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MPC. Activest Wealth Management raised its holdings in Marathon Petroleum by 290.2% in the second 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. CBIZ Investment Advisory Services LLC increased its position in shares of Marathon Petroleum by 1,546.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 201 shares in the last quarter. WPG Advisers LLC purchased a new position in shares of Marathon Petroleum in the 1st quarter valued at $32,000. NewSquare Capital LLC raised 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 valued at $33,000 after acquiring an additional 101 shares during the period. Finally, Stone House Investment Management LLC lifted its holdings in shares of Marathon Petroleum by 46.1% during the 2nd quarter. Stone House Investment Management LLC now owns 225 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 71 shares in the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MPC has been the topic of several research reports. Mizuho raised their price objective on Marathon Petroleum from $184.00 to $188.00 and gave the company a “neutral” rating in a research report on Monday, September 15th. BMO Capital Markets raised their target price on Marathon Petroleum from $195.00 to $208.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Bank of America upped their price target on Marathon Petroleum from $184.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, September 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Marathon Petroleum in a research report on Wednesday, October 8th. Finally, Morgan Stanley boosted their target price on shares of Marathon Petroleum from $182.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, October 3rd. Eight equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.00.

Marathon Petroleum Price Performance

Shares of MPC opened at $194.75 on Friday. Marathon Petroleum Corporation has a 52 week low of $115.10 and a 52 week high of $202.25. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 1.31. The firm has a market cap of $58.54 billion, a price-to-earnings ratio of 20.76, a PEG ratio of 3.82 and a beta of 0.90. The stock has a 50 day moving average of $189.25 and a 200-day moving average of $173.59.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.00 by $0.01. The business had revenue of $34.81 billion for the quarter, compared to analyst estimates of $31.06 billion. Marathon Petroleum had a return on equity of 9.76% and a net margin of 2.13%. As a group, analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 19th will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Wednesday, November 19th. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.91. Marathon Petroleum’s payout ratio is 42.64%.

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.