First Citizens Bank & Trust Co. lowered its position in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 19.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,334 shares of the oil and gas company's stock after selling 5,939 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in Marathon Petroleum were worth $4,208,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Activest Wealth Management grew its stake in Marathon Petroleum by 290.2% during the 2nd quarter. Activest Wealth Management now owns 160 shares of the oil and gas company's stock valued at $27,000 after acquiring an additional 119 shares in the last quarter. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Marathon Petroleum by 1,546.2% during 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 during the period. Hughes Financial Services LLC purchased a new position in Marathon Petroleum during the first quarter valued at approximately $32,000. WPG Advisers LLC acquired a new position in Marathon Petroleum in the 1st quarter valued at approximately $32,000. Finally, Decker Retirement Planning Inc. lifted its position in Marathon Petroleum by 1,621.4% in the 1st quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company's stock worth $35,000 after buying an additional 227 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company's stock.
Marathon Petroleum Trading Up 4.4%
Marathon Petroleum stock opened at $190.92 on Thursday. The business has a 50 day moving average price of $182.18 and a two-hundred day moving average price of $165.87. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $201.61. The stock has a market cap of $58.04 billion, a price-to-earnings ratio of 28.33, a price-to-earnings-growth ratio of 2.85 and a beta of 0.90.
Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.22 by $0.74. The business had revenue of $34.10 billion for the quarter, compared to analysts' expectations of $31.70 billion. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.Marathon Petroleum's quarterly revenue was down 11.1% on a year-over-year basis. During the same period in the previous year, the business posted $4.12 earnings per share. As a group, equities analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current year.
Marathon Petroleum Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th were paid a $0.91 dividend. The ex-dividend date was Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.9%. Marathon Petroleum's dividend payout ratio is currently 54.01%.
Insider Activity at Marathon Petroleum
In other news, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the sale, the insider directly owned 28,700 shares in the company, valued at approximately $4,678,100. The trade was 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. Insiders own 0.21% of the company's stock.
Analyst Upgrades and Downgrades
MPC has been the subject of a number of recent research reports. Bank of America raised their price target on Marathon Petroleum from $184.00 to $192.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 3rd. Weiss Ratings reiterated a "hold (c)" rating on shares of Marathon Petroleum in a research note on Wednesday, October 8th. Raymond James Financial restated an "outperform" rating and set a $203.00 price target (up previously from $199.00) on shares of Marathon Petroleum in a research note on Friday, October 17th. Scotiabank restated an "outperform" rating on shares of Marathon Petroleum in a report on Thursday, October 9th. Finally, Morgan Stanley upped their price objective on shares of Marathon Petroleum from $182.00 to $200.00 and gave the stock an "overweight" rating in a report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $200.31.
Check Out Our Latest Analysis on Marathon Petroleum
Marathon Petroleum Company Profile
(
Free Report)
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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