Angeles Wealth Management LLC Sells 359 Shares of Marathon Petroleum Co. (NYSE:MPC)

Angeles Wealth Management LLC trimmed its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 14.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,098 shares of the oil and gas company’s stock after selling 359 shares during the period. Angeles Wealth Management LLC’s holdings in Marathon Petroleum were worth $342,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its position in shares of Marathon Petroleum by 237.1% during the third quarter. Van ECK Associates Corp now owns 69,402 shares of the oil and gas company’s stock valued at $10,671,000 after purchasing an additional 48,814 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in Marathon Petroleum during the third quarter worth $30,000. Pure Financial Advisors LLC bought a new stake in Marathon Petroleum in the 3rd quarter valued at $718,000. Princeton Global Asset Management LLC raised its stake in shares of Marathon Petroleum by 2.8% in the 3rd quarter. Princeton Global Asset Management LLC now owns 24,420 shares of the oil and gas company’s stock valued at $3,978,000 after buying an additional 658 shares in the last quarter. Finally, swisspartners Advisors Ltd lifted its holdings in shares of Marathon Petroleum by 1.1% during the 3rd quarter. swisspartners Advisors Ltd now owns 19,725 shares of the oil and gas company’s stock worth $3,213,000 after acquiring an additional 220 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Stock Down 1.6 %

Shares of MPC opened at $143.13 on Monday. The firm has a market capitalization of $47.90 billion, a price-to-earnings ratio of 7.52, a PEG ratio of 2.78 and a beta of 1.38. Marathon Petroleum Co. has a 52 week low of $140.98 and a 52 week high of $221.11. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 1.31. The business’s fifty day moving average price is $162.57 and its two-hundred day moving average price is $171.11.

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, topping analysts’ consensus estimates of $3.09 by $1.03. The firm had revenue of $38.36 billion during the quarter, compared to analyst estimates of $36.66 billion. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The company’s revenue was up 4.2% on a year-over-year basis. During the same period last year, the company earned $5.32 earnings per share. On average, analysts predict that Marathon Petroleum Co. will post 8.71 earnings per share for the current year.

Marathon Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be paid a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. This represents a $3.64 dividend on an annualized basis and a yield of 2.54%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 17.34%.

Wall Street Analysts Forecast Growth

MPC has been the topic of a number of analyst reports. BMO Capital Markets lowered their target price on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Wells Fargo & Company dropped their target price on Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Wolfe Research started coverage on Marathon Petroleum in a research note on Thursday, July 18th. They issued an “outperform” rating and a $200.00 price target on the stock. Jefferies Financial Group upped their price target on Marathon Petroleum from $222.00 to $231.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Finally, Bank of America assumed coverage on Marathon Petroleum in a report on Thursday, October 17th. They set a “neutral” rating and a $174.00 price objective for the company. Two research analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $187.00.

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.