Marathon Petroleum Corporation $MPC Position Lessened by Shelton Capital Management

by · The Cerbat Gem

Shelton Capital Management reduced its stake in shares of Marathon Petroleum Corporation (NYSE:MPC – Free Report) by 55.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 5,381 shares of the oil and gas company’s stock after selling 6,660 shares during the period. Shelton Capital Management’s holdings in Marathon Petroleum were worth $894,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in MPC. Activest Wealth Management boosted its holdings in shares of Marathon Petroleum by 290.2% during the second quarter. Activest Wealth Management now owns 160 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 119 shares during the period. WPG Advisers LLC acquired a new stake in shares of Marathon Petroleum in the 1st quarter worth about $32,000. NewSquare Capital LLC lifted its position in 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 purchasing an additional 101 shares during the last quarter. Stone House Investment Management LLC boosted its stake in 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 purchasing an additional 71 shares during the period. Finally, Operose Advisors LLC bought a new position in Marathon Petroleum in the 1st quarter worth about $42,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MPC. BMO Capital Markets boosted their price objective on Marathon Petroleum from $208.00 to $210.00 in a research report on Tuesday, November 11th. Barclays lifted their target price on Marathon Petroleum from $194.00 to $202.00 and gave the company an “overweight” rating in a research note on Monday, November 17th. Piper Sandler increased their price target on Marathon Petroleum from $220.00 to $231.00 and gave the stock a “neutral” rating in a research note on Friday, November 14th. Bank of America lifted their price objective on shares of Marathon Petroleum from $184.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, September 3rd. Finally, Morgan Stanley increased their target price on shares of Marathon Petroleum from $182.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, October 3rd. Eight analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $203.21.

Get Our Latest Analysis on Marathon Petroleum

Marathon Petroleum Trading Down 1.7%

Shares of MPC stock opened at $192.79 on Wednesday. The stock has a 50-day simple moving average of $191.88 and a 200 day simple moving average of $177.97. The stock has a market capitalization of $57.95 billion, a P/E ratio of 20.55, a P/E/G ratio of 1.00 and a beta of 0.72. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $202.29. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 1.31.

Marathon Petroleum (NYSE:MPC – Get Free Report) last issued its quarterly earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 EPS for the quarter, topping the consensus estimate of $3.00 by $0.01. Marathon Petroleum had a net margin of 2.13% and a return on equity of 9.76%. The firm had revenue of $34.81 billion for the quarter, compared to analysts’ expectations of $31.06 billion. On average, sell-side analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

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

About Marathon Petroleum

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding MPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Petroleum Corporation (NYSE:MPC – Free Report).