Spirit of America Management Corp NY Has $7.60 Million Stock Holdings in Marathon Petroleum Corporation $MPC

Key Points

• Spirit of America Management Corp NY reduced its holdings in Marathon Petroleum Corporation by 18.2% in Q2, now owning 45,725 shares valued at approximately $7.60 million.
• Marathon Petroleum reported $3.96 EPS for the last quarter, surpassing expectations and generating revenue of $34.10 billion, though it reflects an 11.1% year-over-year decline.
• The company declared a quarterly dividend of $0.91 per share, representing a 2.0% yield and a payout ratio of 54.01%.

Spirit of America Management Corp NY reduced its holdings in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 18.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 45,725 shares of the oil and gas company's stock after selling 10,150 shares during the quarter. Marathon Petroleum comprises 1.6% of Spirit of America Management Corp NY's holdings, making the stock its 10th largest holding. Spirit of America Management Corp NY's holdings in Marathon Petroleum were worth $7,595,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in MPC. Activest Wealth Management increased its holdings in Marathon Petroleum by 290.2% in the second quarter. Activest Wealth Management now owns 160 shares of the oil and gas company's stock worth $27,000 after purchasing an additional 119 shares in the last quarter. CBIZ Investment Advisory Services LLC increased its holdings in Marathon Petroleum by 1,546.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company's stock worth $31,000 after purchasing an additional 201 shares in the last quarter. Hughes Financial Services LLC bought a new stake in Marathon Petroleum in the first quarter worth approximately $32,000. WPG Advisers LLC bought a new stake in Marathon Petroleum in the first quarter worth approximately $32,000. Finally, Decker Retirement Planning Inc. increased its holdings in Marathon Petroleum by 1,621.4% in the first quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company's stock worth $35,000 after purchasing an additional 227 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Trading Up 1.7%

NYSE MPC opened at $184.14 on Friday. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. The business has a fifty day simple moving average of $180.61 and a 200 day simple moving average of $164.76. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $201.61. The firm has a market capitalization of $55.98 billion, a P/E ratio of 27.32, a PEG ratio of 2.83 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share for the quarter, beating the consensus estimate of $3.22 by $0.74. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The business had revenue of $34.10 billion for the quarter, compared to analysts' expectations of $31.70 billion. During the same period last year, the business earned $4.12 EPS. The business's revenue was down 11.1% on a year-over-year basis. On average, analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were paid a dividend of $0.91 per share. The ex-dividend date was Wednesday, August 20th. This represents a $3.64 annualized dividend and a yield of 2.0%. Marathon Petroleum's dividend payout ratio (DPR) is 54.01%.

Insiders Place Their Bets

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the firm's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the transaction, the insider directly owned 28,700 shares in the company, valued at approximately $4,678,100. This trade represents a 27.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.21% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MPC shares. Barclays lifted their target price on Marathon Petroleum from $176.00 to $194.00 and gave the stock an "overweight" rating in a report on Monday. Raymond James Financial reiterated an "outperform" rating and issued a $203.00 target price (up from $199.00) on shares of Marathon Petroleum in a report on Friday. Morgan Stanley increased their target price on Marathon Petroleum from $182.00 to $200.00 and gave the stock an "overweight" rating in a report on Friday, October 3rd. Piper Sandler increased their target price on Marathon Petroleum from $184.00 to $222.00 and gave the stock a "neutral" rating in a report on Thursday, September 11th. Finally, Dbs Bank upgraded Marathon Petroleum to a "moderate buy" rating in a report on Monday, July 28th. Eight investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $200.31.

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.

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