Traynor Capital Management Inc. Decreases Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Traynor Capital Management Inc. lowered its holdings in Marathon Petroleum Co. (NYSE:MPC) by 4.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,017 shares of the oil and gas company’s stock after selling 157 shares during the quarter. Traynor Capital Management Inc.’s holdings in Marathon Petroleum were worth $491,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of MPC. FinTrust Capital Advisors LLC lifted its position 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 valued at $25,000 after purchasing an additional 100 shares during the period. Crewe Advisors LLC bought a new position in Marathon Petroleum in the first quarter valued at about $29,000. TruNorth Capital Management LLC purchased a new stake in shares of Marathon Petroleum during the 2nd quarter valued at about $35,000. Industrial Alliance Investment Management Inc. bought a new position in shares of Marathon Petroleum in the 2nd quarter worth approximately $35,000. Finally, Wellington Shields & Co. LLC purchased a new position in shares of Marathon Petroleum in the first quarter worth approximately $40,000. 76.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MPC. Wolfe Research began coverage on shares of Marathon Petroleum in a research report on Thursday, July 18th. They issued an “outperform” rating and a $200.00 price target on the stock. Mizuho cut their price target on Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating for the company in a report on Monday, September 16th. BMO Capital Markets decreased their price objective on Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Barclays cut their price objective on Marathon Petroleum from $180.00 to $168.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Finally, Piper Sandler dropped their price target on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Marathon Petroleum currently has an average rating of “Moderate Buy” and a consensus price target of $187.00.

Marathon Petroleum Stock Down 0.8 %

NYSE MPC opened at $151.07 on Tuesday. The stock has a 50 day moving average price of $164.81 and a 200-day moving average price of $172.82. Marathon Petroleum Co. has a one year low of $140.98 and a one year high of $221.11. The company has a market capitalization of $53.23 billion, a P/E ratio of 7.55, a P/E/G ratio of 3.03 and a beta of 1.37. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 1.31.

Marathon Petroleum (NYSE:MPC) last issued 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 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 analysts’ expectations of $36.66 billion. During the same period last year, the company posted $5.32 EPS. The business’s revenue was up 4.2% on a year-over-year basis. As a group, equities analysts predict that Marathon Petroleum Co. will post 8.71 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were issued a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date was Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio (DPR) is 16.48%.

About Marathon Petroleum

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.