Institute for Wealth Management LLC. Trims Holdings in Marathon Petroleum Corp (NYSE:MPC)

Institute for Wealth Management LLC. decreased its holdings in Marathon Petroleum Corp (NYSE:MPC) by 6.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,646 shares of the oil and gas company’s stock after selling 961 shares during the period. Institute for Wealth Management LLC.’s holdings in Marathon Petroleum were worth $547,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in MPC. Sunbelt Securities Inc. increased its stake in Marathon Petroleum by 38.3% in the fourth quarter. Sunbelt Securities Inc. now owns 58,323 shares of the oil and gas company’s stock worth $3,514,000 after purchasing an additional 16,160 shares during the period. Franklin Resources Inc. increased its stake in shares of Marathon Petroleum by 7.1% during the fourth quarter. Franklin Resources Inc. now owns 186,818 shares of the oil and gas company’s stock valued at $11,256,000 after buying an additional 12,389 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Marathon Petroleum by 4.9% during the first quarter. State of Alaska Department of Revenue now owns 111,938 shares of the oil and gas company’s stock valued at $2,643,000 after buying an additional 5,224 shares during the period. Silverleafe Capital Partners LLC increased its stake in shares of Marathon Petroleum by 158.8% during the first quarter. Silverleafe Capital Partners LLC now owns 22,000 shares of the oil and gas company’s stock valued at $520,000 after buying an additional 13,500 shares during the period. Finally, IBM Retirement Fund increased its stake in shares of Marathon Petroleum by 52.9% during the first quarter. IBM Retirement Fund now owns 16,539 shares of the oil and gas company’s stock valued at $391,000 after buying an additional 5,724 shares during the period. Institutional investors and hedge funds own 73.54% of the company’s stock.

NYSE MPC traded up $0.12 during trading on Friday, hitting $38.20. The company’s stock had a trading volume of 9,998,483 shares, compared to its average volume of 6,517,359. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.16 and a quick ratio of 0.61. The company has a market cap of $24.84 billion, a PE ratio of -3.73 and a beta of 2.22. The business’s 50 day simple moving average is $37.01 and its 200-day simple moving average is $38.13. Marathon Petroleum Corp has a fifty-two week low of $15.26 and a fifty-two week high of $69.65.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.15. Marathon Petroleum had a positive return on equity of 7.88% and a negative net margin of 5.48%. The business had revenue of $24.08 billion during the quarter, compared to the consensus estimate of $27.96 billion. During the same quarter last year, the company earned ($0.09) earnings per share. The company’s quarterly revenue was down 15.8% on a year-over-year basis. Analysts expect that Marathon Petroleum Corp will post -2.76 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 6.07%. The ex-dividend date is Tuesday, August 18th. Marathon Petroleum’s dividend payout ratio (DPR) is 46.96%.

Several equities analysts have recently commented on MPC shares. TheStreet lowered Marathon Petroleum from a “c” rating to a “d” rating in a research note on Tuesday, May 5th. ValuEngine upgraded Marathon Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, April 17th. Cowen cut their target price on Marathon Petroleum from $54.00 to $29.00 and set a “market perform” rating on the stock in a research note on Thursday, April 16th. Bank of America cut their target price on Marathon Petroleum from $60.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Finally, Jefferies Financial Group lifted their target price on Marathon Petroleum from $47.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $49.64.

About Marathon Petroleum

Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing; Retail; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals and trucks that the company owns or operates.

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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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