Focused Wealth Management Inc Has $182,000 Stake in Marathon Petroleum Corp (NYSE:MPC)

Focused Wealth Management Inc trimmed its stake in shares of Marathon Petroleum Corp (NYSE:MPC) by 54.9% in the third quarter, HoldingsChannel reports. The firm owned 3,000 shares of the oil and gas company’s stock after selling 3,650 shares during the quarter. Focused Wealth Management Inc’s holdings in Marathon Petroleum were worth $182,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Fulcrum Capital LLC bought a new stake in shares of Marathon Petroleum in the third quarter valued at about $6,313,000. Venturi Wealth Management LLC bought a new stake in shares of Marathon Petroleum in the third quarter valued at about $25,000. Mechanics Bank Trust Department bought a new stake in shares of Marathon Petroleum in the third quarter valued at about $29,000. Old North State Trust LLC boosted its position in shares of Marathon Petroleum by 209.1% in the third quarter. Old North State Trust LLC now owns 476 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 322 shares during the period. Finally, Endurance Wealth Management Inc. boosted its position in shares of Marathon Petroleum by 365.4% in the third quarter. Endurance Wealth Management Inc. now owns 484 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 380 shares during the period. 77.37% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have recently issued reports on MPC shares. Raymond James boosted their target price on shares of Marathon Petroleum from $72.00 to $75.00 and gave the company a “strong-buy” rating in a research report on Friday, August 2nd. Cowen boosted their target price on shares of Marathon Petroleum from $57.00 to $60.00 and gave the company a “market perform” rating in a research report on Wednesday, September 25th. Citigroup boosted their target price on shares of Marathon Petroleum from $60.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Wells Fargo & Co boosted their target price on shares of Marathon Petroleum from $75.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, September 25th. Finally, Mizuho set a $90.00 target price on shares of Marathon Petroleum and gave the company a “buy” rating in a research report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $73.38.

MPC stock traded down $0.58 during midday trading on Wednesday, reaching $64.33. The company had a trading volume of 2,104,689 shares, compared to its average volume of 6,604,056. The company has a market capitalization of $43.00 billion, a price-to-earnings ratio of 9.49, a price-to-earnings-growth ratio of 1.58 and a beta of 1.70. The stock has a 50 day moving average price of $63.72 and a 200-day moving average price of $55.05. Marathon Petroleum Corp has a 1-year low of $43.96 and a 1-year high of $69.65. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.25 and a quick ratio of 0.62.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Thursday, October 31st. The oil and gas company reported $1.63 EPS for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.33. The business had revenue of $31.20 billion during the quarter, compared to the consensus estimate of $32.89 billion. Marathon Petroleum had a return on equity of 8.94% and a net margin of 2.50%. Marathon Petroleum’s revenue for the quarter was up 34.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.70 earnings per share. As a group, research analysts anticipate that Marathon Petroleum Corp will post 4.21 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend is Tuesday, November 19th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 31.27%.

Marathon Petroleum Profile

Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing; Retail; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals and trucks that the company owns or operates.

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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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