Hudson Edge Investment Partners Inc. Decreases Position in Marathon Petroleum Corporation $MPC

Hudson Edge Investment Partners Inc. lessened its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 11.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,694 shares of the oil and gas company’s stock after selling 4,458 shares during the quarter. Hudson Edge Investment Partners Inc.’s holdings in Marathon Petroleum were worth $6,687,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. BIP Wealth LLC lifted its position in shares of Marathon Petroleum by 31.9% during the third quarter. BIP Wealth LLC now owns 1,868 shares of the oil and gas company’s stock worth $360,000 after acquiring an additional 452 shares in the last quarter. Fiducient Advisors LLC bought a new stake in Marathon Petroleum during the 3rd quarter worth approximately $387,000. First Business Financial Services Inc. purchased a new stake in Marathon Petroleum in the 3rd quarter worth approximately $215,000. Avidian Wealth Enterprises LLC grew its position in shares of Marathon Petroleum by 0.7% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 14,075 shares of the oil and gas company’s stock valued at $2,713,000 after purchasing an additional 92 shares in the last quarter. Finally, Rakuten Investment Management Inc. bought a new position in shares of Marathon Petroleum in the third quarter worth $3,621,000. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Trading Up 1.5%

NYSE MPC opened at $177.43 on Thursday. The stock has a market cap of $53.33 billion, a P/E ratio of 18.92, a price-to-earnings-growth ratio of 0.75 and a beta of 0.74. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $202.29. The stock has a 50 day simple moving average of $180.51 and a two-hundred day simple moving average of $180.74. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.79 and a current ratio of 1.32.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 EPS for the quarter, beating analysts’ consensus estimates of $3.00 by $0.01. The company had revenue of $34.81 billion during the quarter, compared to analysts’ expectations of $31.06 billion. Marathon Petroleum had a return on equity of 9.76% and a net margin of 2.13%. On average, analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Wednesday, November 19th were given a dividend of $1.00 per share. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend was Wednesday, November 19th. This represents a $4.00 dividend on an annualized basis and a yield of 2.3%. Marathon Petroleum’s dividend payout ratio is 42.64%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Wells Fargo & Company decreased their target price on Marathon Petroleum from $214.00 to $213.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. UBS Group boosted their price target on shares of Marathon Petroleum from $203.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. JPMorgan Chase & Co. lowered their price objective on shares of Marathon Petroleum from $211.00 to $179.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Marathon Petroleum in a research report on Wednesday, October 8th. Finally, Piper Sandler lowered their price target on Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating on the stock in a research report on Thursday, January 8th. Eight investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, Marathon Petroleum currently has an average rating of “Hold” and an average price target of $195.71.

Marathon Petroleum Profile

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.