Angeles Wealth Management LLC Has $342,000 Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Angeles Wealth Management LLC lowered its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 14.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,098 shares of the oil and gas company’s stock after selling 359 shares during the quarter. Angeles Wealth Management LLC’s holdings in Marathon Petroleum were worth $342,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in MPC. FinTrust Capital Advisors LLC raised its stake in Marathon Petroleum by 400.0% during the 1st quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 100 shares during the period. Crewe Advisors LLC acquired a new position in Marathon Petroleum during the first quarter valued at $29,000. Harbor Capital Advisors Inc. purchased a new stake in Marathon Petroleum in the 3rd quarter worth about $30,000. TruNorth Capital Management LLC acquired a new stake in Marathon Petroleum during the 2nd quarter worth about $35,000. Finally, Industrial Alliance Investment Management Inc. purchased a new position in Marathon Petroleum during the 2nd quarter valued at about $35,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on MPC shares. Tudor Pickering lowered shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, September 9th. Wolfe Research started coverage on shares of Marathon Petroleum in a research note on Thursday, July 18th. They set an “outperform” rating and a $200.00 target price for the company. Mizuho dropped their price target on shares of Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Barclays reduced their price objective on Marathon Petroleum from $180.00 to $168.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Finally, Wells Fargo & Company dropped their target price on Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $187.00.

Marathon Petroleum Stock Performance

NYSE:MPC opened at $143.13 on Monday. The firm has a market capitalization of $47.90 billion, a PE ratio of 7.52, a PEG ratio of 2.78 and a beta of 1.38. The company has a current ratio of 1.31, a quick ratio of 0.90 and a debt-to-equity ratio of 0.86. Marathon Petroleum Co. has a 1 year low of $140.98 and a 1 year high of $221.11. The firm’s fifty day simple moving average is $162.57 and its 200 day simple moving average is $171.11.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $1.03. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The business had revenue of $38.36 billion for the quarter, compared to analyst estimates of $36.66 billion. During the same period in the previous year, the company posted $5.32 earnings per share. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, sell-side analysts anticipate that Marathon Petroleum Co. will post 8.71 EPS for the current year.

Marathon Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.54%. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, November 20th. Marathon Petroleum’s dividend payout ratio is currently 17.34%.

Marathon Petroleum Company 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.