Argent Trust Co Reduces Stake in Marathon Petroleum Corporation (NYSE:MPC)

Key Points

• Argent Trust Co significantly reduced its holdings in Marathon Petroleum by 70.7%, selling over 13,000 shares, leaving it with 5,395 shares valued at approximately $786,000.
• Multiple institutional investors have increased their stakes in Marathon Petroleum, with Bank of New York Mellon boosting its holdings by 3.7%, and Demars Financial Group increasing theirs by 12.8% in the first quarter.
• Marathon Petroleum announced a quarterly dividend of $0.91, scheduled to be paid on September 10th, reflecting an annualized yield of 2.2% for shareholders of record.

Argent Trust Co lessened its holdings in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 70.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,395 shares of the oil and gas company's stock after selling 13,024 shares during the quarter. Argent Trust Co's holdings in Marathon Petroleum were worth $786,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Fourth Dimension Wealth LLC purchased a new position in Marathon Petroleum during the fourth quarter worth about $26,000. CBIZ Investment Advisory Services LLC boosted its position in shares of Marathon Petroleum by 1,546.2% during the 1st 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 during the period. Hughes Financial Services LLC acquired a new position in Marathon Petroleum during the first quarter worth $32,000. Decker Retirement Planning Inc. grew its stake in shares of 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 valued at $35,000 after buying an additional 227 shares in the last quarter. Finally, Barnes Dennig Private Wealth Management LLC acquired a new position in Marathon Petroleum in the 1st quarter valued at about $35,000. Hedge funds and other institutional investors own 76.77% of the company's stock.

Marathon Petroleum Stock Performance

Marathon Petroleum stock traded up $0.08 during mid-day trading on Friday, reaching $161.59. 558,651 shares of the company were exchanged, compared to its average volume of 2,673,634. The firm has a market cap of $49.64 billion, a PE ratio of 23.97, a price-to-earnings-growth ratio of 2.77 and a beta of 0.90. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.73 and a current ratio of 1.23. The firm's 50-day simple moving average is $169.24 and its two-hundred day simple moving average is $153.63. Marathon Petroleum Corporation has a twelve month low of $115.10 and a twelve month high of $183.10.

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

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th will be given a dividend of $0.91 per share. The ex-dividend date is Wednesday, August 20th. This represents a $3.64 annualized dividend and a yield of 2.3%. Marathon Petroleum's payout ratio is presently 54.01%.

Insider Activity

In other news, Director Kim K.W. Rucker sold 7,392 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total value of $1,293,600.00. Following the completion of the sale, the director directly owned 18,944 shares of the company's stock, valued at $3,315,200. This trade represents a 28.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.21% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Morgan Stanley increased their target price on shares of Marathon Petroleum from $160.00 to $182.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. TD Cowen reduced their price target on Marathon Petroleum from $190.00 to $182.00 and set a "buy" rating on the stock in a research report on Wednesday. Barclays upped their target price on shares of Marathon Petroleum from $159.00 to $189.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Evercore ISI started coverage on shares of Marathon Petroleum in a report on Wednesday, June 18th. They set an "in-line" rating and a $170.00 price target for the company. Finally, Dbs Bank raised shares of Marathon Petroleum to a "moderate buy" rating in a research report on Monday, July 28th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, Marathon Petroleum currently has a consensus rating of "Hold" and an average target price of $185.29.

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.