Triasima Portfolio Management inc. Reduces Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

Triasima Portfolio Management inc. decreased its position in Marathon Petroleum Co. (NYSE:MPC) by 4.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,294 shares of the oil and gas company’s stock after selling 300 shares during the quarter. Triasima Portfolio Management inc.’s holdings in Marathon Petroleum were worth $1,092,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. FinTrust Capital Advisors LLC grew its holdings 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 in the last quarter. Crewe Advisors LLC purchased a new stake in shares of Marathon Petroleum during the first quarter worth about $29,000. ICA Group Wealth Management LLC acquired a new position in shares of Marathon Petroleum in the fourth quarter worth about $30,000. Vima LLC purchased a new position in Marathon Petroleum in the fourth quarter valued at about $30,000. Finally, Manchester Capital Management LLC grew its stake in Marathon Petroleum by 97.2% during the 4th quarter. Manchester Capital Management LLC now owns 215 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 106 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MPC shares. StockNews.com cut Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Barclays dropped their target price on shares of Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating for the company in a research report on Monday, July 1st. Mizuho reduced their price target on shares of Marathon Petroleum from $203.00 to $201.00 and set a “neutral” rating on the stock in a research report on Thursday, June 20th. Piper Sandler decreased their price target on Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating for the company in a research note on Friday, June 14th. Finally, Jefferies Financial Group upped their price objective on Marathon Petroleum from $222.00 to $231.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Marathon Petroleum currently has an average rating of “Moderate Buy” and an average target price of $198.38.

Marathon Petroleum Stock Performance

MPC traded down $2.46 during trading on Friday, reaching $166.00. 2,242,556 shares of the company were exchanged, compared to its average volume of 2,623,754. Marathon Petroleum Co. has a 52 week low of $139.32 and a 52 week high of $221.11. The company has a current ratio of 1.31, a quick ratio of 0.90 and a debt-to-equity ratio of 0.86. The firm has a 50 day moving average of $171.21 and a 200 day moving average of $180.32. The stock has a market cap of $58.49 billion, a P/E ratio of 8.29, a PEG ratio of 2.33 and a beta of 1.38.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, topping the consensus estimate of $3.09 by $1.03. The business had revenue of $38.36 billion during the quarter, compared to analyst estimates of $36.66 billion. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.32 earnings per share. On average, sell-side analysts forecast that Marathon Petroleum Co. will post 12.68 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be issued a dividend of $0.825 per share. The ex-dividend date is Wednesday, August 21st. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.99%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 16.48%.

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.