Miracle Mile Advisors LLC Sells 842 Shares of Marathon Petroleum Co. (NYSE:MPC)

Miracle Mile Advisors LLC lessened its holdings in Marathon Petroleum Co. (NYSE:MPC) by 11.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,627 shares of the oil and gas company’s stock after selling 842 shares during the period. Miracle Mile Advisors LLC’s holdings in Marathon Petroleum were worth $965,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC lifted its stake in Marathon Petroleum by 30.9% in the 4th quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock valued at $696,000 after purchasing an additional 1,178 shares during the last quarter. Financial Advocates Investment Management lifted its stake in shares of Marathon Petroleum by 4.5% in the 4th quarter. Financial Advocates Investment Management now owns 2,560 shares of the oil and gas company’s stock valued at $357,000 after acquiring an additional 110 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Marathon Petroleum during the 4th quarter valued at $86,000. Entropy Technologies LP bought a new stake in Marathon Petroleum during the 4th quarter worth $2,122,000. Finally, AlphaStar Capital Management LLC acquired a new position in Marathon Petroleum in the 4th quarter worth about $201,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of Marathon Petroleum stock opened at $160.25 on Tuesday. The firm has a market capitalization of $49.23 billion, a P/E ratio of 16.14, a price-to-earnings-growth ratio of 3.11 and a beta of 0.89. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. The business’s fifty day simple moving average is $144.11 and its 200 day simple moving average is $146.08. Marathon Petroleum Co. has a 12 month low of $115.10 and a 12 month high of $183.31.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.16. The company had revenue of $31.85 billion during the quarter, compared to analyst estimates of $28.91 billion. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.58 earnings per share. As a group, analysts anticipate that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be paid a $0.91 dividend. The ex-dividend date is Wednesday, May 21st. This represents a $3.64 annualized dividend and a yield of 2.27%. Marathon Petroleum’s payout ratio is 51.20%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MPC. Scotiabank reduced their price target on Marathon Petroleum from $169.00 to $147.00 and set a “sector outperform” rating on the stock in a report on Friday, April 11th. Raymond James reduced their target price on shares of Marathon Petroleum from $193.00 to $183.00 and set a “strong-buy” rating on the stock in a report on Wednesday, April 9th. Barclays raised their price target on shares of Marathon Petroleum from $141.00 to $159.00 and gave the company an “overweight” rating in a research note on Monday, May 12th. Wall Street Zen raised shares of Marathon Petroleum from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Finally, Morgan Stanley decreased their price objective on Marathon Petroleum from $175.00 to $160.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Marathon Petroleum currently has an average rating of “Moderate Buy” and a consensus target price of $175.29.

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.