Glenview Trust co Has $553,000 Holdings in Marathon Petroleum Corporation $MPC

Key Points

• Glenview Trust Co has reduced its shareholding in Marathon Petroleum Corporation by 37.2%, now holding a worth of $553,000 after selling 2,249 shares in the first quarter.
• Analysts have shown a mixed view on Marathon Petroleum, with UBS raising their price target to $203.00 while Wolfe Research downgraded it, resulting in a consensus target price of $189.36.
• Marathon Petroleum declared a quarterly dividend of $0.91 per share, reflecting a 2.0% yield and a payout ratio of 54.01%.

Glenview Trust co cut its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 37.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,799 shares of the oil and gas company's stock after selling 2,249 shares during the period. Glenview Trust co's holdings in Marathon Petroleum were worth $553,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Good Steward Wealth Advisors LLC acquired a new position in Marathon Petroleum during the 1st quarter valued at about $346,000. Silver Oak Securities Incorporated acquired a new position in Marathon Petroleum during the 1st quarter valued at about $339,000. Financial Partners Group LLC lifted its position in Marathon Petroleum by 65.8% during the 1st quarter. Financial Partners Group LLC now owns 3,937 shares of the oil and gas company's stock valued at $574,000 after purchasing an additional 1,563 shares during the period. Oppenheimer Asset Management Inc. lifted its position in Marathon Petroleum by 8.0% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 44,387 shares of the oil and gas company's stock valued at $6,467,000 after purchasing an additional 3,291 shares during the period. Finally, Jump Financial LLC lifted its position in Marathon Petroleum by 128.0% during the 1st quarter. Jump Financial LLC now owns 8,663 shares of the oil and gas company's stock valued at $1,262,000 after purchasing an additional 4,863 shares during the period. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MPC. UBS Group increased their price target on shares of Marathon Petroleum from $175.00 to $203.00 and gave the company a "buy" rating in a research report on Thursday, July 10th. Piper Sandler increased their price target on shares of Marathon Petroleum from $184.00 to $222.00 and gave the company a "neutral" rating in a research report on Thursday. Wall Street Zen upgraded shares of Marathon Petroleum from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Wolfe Research downgraded shares of Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a research report on Monday, July 14th. Finally, Dbs Bank upgraded shares of Marathon Petroleum to a "moderate buy" rating in a research 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 stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $189.36.

Insider Activity at Marathon Petroleum

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 shares were sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Molly R. Benson sold 10,879 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at $4,678,100. This represents a 27.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $182.14 on Friday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23. The company has a market capitalization of $55.37 billion, a P/E ratio of 27.02, a price-to-earnings-growth ratio of 3.67 and a beta of 0.97. The company's 50 day moving average price is $172.65 and its two-hundred day moving average price is $156.93. Marathon Petroleum Corporation has a 52 week low of $115.10 and a 52 week high of $186.28.

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

Marathon Petroleum Announces Dividend

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

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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