Princeton Global Asset Management LLC Acquires 658 Shares of Marathon Petroleum Co. (NYSE:MPC)

Princeton Global Asset Management LLC increased its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 2.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 24,420 shares of the oil and gas company’s stock after purchasing an additional 658 shares during the period. Princeton Global Asset Management LLC’s holdings in Marathon Petroleum were worth $3,978,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FinTrust Capital Advisors LLC grew its holdings in Marathon Petroleum by 400.0% during the first quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 100 shares during the period. Crewe Advisors LLC bought a new position in Marathon Petroleum during the first quarter worth about $29,000. Wellington Shields & Co. LLC bought a new position in Marathon Petroleum during the first quarter worth about $40,000. TruNorth Capital Management LLC bought a new stake in shares of Marathon Petroleum during the second quarter worth approximately $35,000. Finally, Industrial Alliance Investment Management Inc. bought a new stake in shares of Marathon Petroleum during the second quarter worth approximately $35,000. Institutional investors own 76.77% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MPC. Morgan Stanley reduced their price objective on Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Wolfe Research began coverage on Marathon Petroleum in a report on Thursday, July 18th. They set an “outperform” rating and a $200.00 price objective for the company. Citigroup reduced their price objective on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Barclays reduced their price objective on Marathon Petroleum from $180.00 to $168.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Finally, Tudor, Pickering, Holt & Co. cut Marathon Petroleum from a “buy” rating to a “sell” rating in a report on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $187.00.

Marathon Petroleum Stock Down 1.6 %

Shares of MPC opened at $143.13 on Friday. Marathon Petroleum Co. has a one year low of $140.98 and a one year high of $221.11. The company has a market cap of $47.90 billion, a P/E ratio of 7.52, a P/E/G ratio of 2.78 and a beta of 1.38. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.31 and a quick ratio of 0.90. The firm has a 50 day simple moving average of $162.57 and a two-hundred day simple moving average of $171.33.

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

Marathon Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be given a dividend of $0.91 per share. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.83. This represents a $3.64 annualized dividend and a yield of 2.54%. The ex-dividend date is Wednesday, November 20th. Marathon Petroleum’s 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.