M&T Bank Corp Sells 6,493 Shares of Marathon Petroleum Corporation (NYSE:MPC)

M&T Bank Corp reduced its position in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 18.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 28,316 shares of the oil and gas company's stock after selling 6,493 shares during the quarter. M&T Bank Corp's holdings in Marathon Petroleum were worth $4,126,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fourth Dimension Wealth LLC bought a new position in shares of Marathon Petroleum in the 4th quarter worth $26,000. Decker Retirement Planning Inc. increased its stake in Marathon Petroleum by 1,621.4% during the 1st quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company's stock valued at $35,000 after purchasing an additional 227 shares in the last quarter. Barnes Dennig Private Wealth Management LLC acquired a new position in Marathon Petroleum during the first quarter worth $35,000. Capital A Wealth Management LLC acquired a new position in Marathon Petroleum during the fourth quarter worth $52,000. Finally, Millstone Evans Group LLC bought a new position in shares of Marathon Petroleum in the fourth quarter valued at $55,000. Institutional investors own 76.77% of the company's stock.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 7,392 shares of the business's stock in a transaction 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 sale, the director directly owned 18,944 shares in the company, valued at $3,315,200. The trade was a 28.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.21% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on MPC shares. Barclays boosted their target price on shares of Marathon Petroleum from $159.00 to $189.00 and gave the stock an "overweight" rating in a research report on Friday. UBS Group raised 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. Scotiabank raised their price target on shares of Marathon Petroleum from $147.00 to $180.00 and gave the company a "sector outperform" rating in a research report on Friday. Evercore ISI assumed coverage on shares of Marathon Petroleum in a research report on Wednesday, June 18th. They issued an "in-line" rating and a $170.00 price target on the stock. Finally, Mizuho raised their price target on shares of Marathon Petroleum from $168.00 to $184.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Marathon Petroleum has an average rating of "Moderate Buy" and an average target price of $184.38.

Marathon Petroleum Stock Performance

Shares of NYSE:MPC traded down $2.45 during midday trading on Friday, reaching $179.81. The company had a trading volume of 4,388,192 shares, compared to its average volume of 2,718,024. The company's 50 day moving average price is $162.98 and its 200 day moving average price is $149.59. The company has a current ratio of 1.19, a quick ratio of 0.73 and a debt-to-equity ratio of 1.16. The stock has a market cap of $55.24 billion, a P/E ratio of 25.29, a P/E/G ratio of 3.58 and a beta of 0.88. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $183.49.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, topping analysts' consensus estimates of ($0.40) by $0.16. The company had revenue of $31.85 billion for the quarter, compared to the consensus estimate of $28.91 billion. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. The firm's quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.58 EPS. As a group, sell-side analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st were issued a $0.91 dividend. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.02%. Marathon Petroleum's dividend payout ratio (DPR) is presently 51.20%.

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.