Trust Point Inc. Sells 2,198 Shares of Marathon Petroleum Co. (NYSE:MPC)

Trust Point Inc. cut its position in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 43.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,862 shares of the oil and gas company's stock after selling 2,198 shares during the quarter. Trust Point Inc.'s holdings in Marathon Petroleum were worth $417,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Fourth Dimension Wealth LLC bought a new stake in shares of Marathon Petroleum in the fourth quarter valued at $26,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Marathon Petroleum in the fourth quarter valued at $27,000. Sierra Ocean LLC bought a new stake in shares of Marathon Petroleum in the fourth quarter valued at $31,000. Cape Investment Advisory Inc. grew its position in shares of Marathon Petroleum by 762.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company's stock valued at $42,000 after purchasing an additional 267 shares in the last quarter. Finally, OFI Invest Asset Management purchased a new position in shares of Marathon Petroleum in the fourth quarter valued at $44,000. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Price Performance

MPC opened at $166.78 on Tuesday. The stock has a 50-day moving average price of $148.45 and a 200-day moving average price of $146.39. Marathon Petroleum Co. has a 12-month low of $115.10 and a 12-month high of $183.31. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $51.24 billion, a P/E ratio of 16.80, a PEG ratio of 3.11 and a beta of 0.89.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.40) by $0.16. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The firm had revenue of $31.85 billion during the quarter, compared to analysts' expectations of $28.91 billion. During the same period in the prior year, the business earned $2.58 EPS. The company's revenue for the quarter was down 4.1% compared to the same quarter last year. Equities analysts predict that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st were issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend was Wednesday, May 21st. Marathon Petroleum's payout ratio is currently 51.20%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MPC shares. Scotiabank reduced their price target on Marathon Petroleum from $169.00 to $147.00 and set a "sector outperform" rating for the company in a research report on Friday, April 11th. Raymond James reduced their price target on Marathon Petroleum from $193.00 to $183.00 and set a "strong-buy" rating for the company in a research report on Wednesday, April 9th. Piper Sandler reduced their price target on Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating for the company in a research report on Friday, March 7th. Barclays lifted their price target on Marathon Petroleum from $141.00 to $159.00 and gave the company an "overweight" rating in a research report on Monday, May 12th. Finally, Wells Fargo & Company lifted their price target on Marathon Petroleum from $180.00 to $182.00 and gave the company an "overweight" rating in a research report on Wednesday, June 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $176.21.

Marathon Petroleum Company 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.

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