HM Payson & Co. Lowers Stake in Marathon Petroleum Co. (NYSE:MPC)

HM Payson & Co. lessened its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 3.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 446,417 shares of the oil and gas company’s stock after selling 15,808 shares during the period. Marathon Petroleum makes up 1.2% of HM Payson & Co.’s portfolio, making the stock its 24th biggest position. HM Payson & Co. owned about 0.13% of Marathon Petroleum worth $72,726,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its position in shares of Marathon Petroleum by 5.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 138,789 shares of the oil and gas company’s stock worth $27,966,000 after buying an additional 7,092 shares during the period. Accel Wealth Management bought a new stake in shares of Marathon Petroleum in the 1st quarter worth approximately $262,000. Retirement Guys Formula LLC bought a new stake in shares of Marathon Petroleum in the 1st quarter worth approximately $212,000. Norden Group LLC increased its position in Marathon Petroleum by 20.8% in the 1st quarter. Norden Group LLC now owns 4,694 shares of the oil and gas company’s stock valued at $946,000 after acquiring an additional 808 shares during the period. Finally, J.W. Cole Advisors Inc. increased its position in Marathon Petroleum by 6.3% in the 1st quarter. J.W. Cole Advisors Inc. now owns 3,160 shares of the oil and gas company’s stock valued at $637,000 after acquiring an additional 188 shares during the period. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Trading Up 0.4 %

Shares of Marathon Petroleum stock traded up $0.65 on Thursday, hitting $145.41. 84,211 shares of the company’s stock traded hands, compared to its average volume of 2,660,669. The firm’s 50-day moving average price is $163.74 and its two-hundred day moving average price is $172.18. The stock has a market capitalization of $51.23 billion, a PE ratio of 7.23, a price-to-earnings-growth ratio of 3.03 and a beta of 1.37. Marathon Petroleum Co. has a one year low of $140.98 and a one year high of $221.11. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.31 and a quick ratio of 0.90.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, beating the consensus estimate of $3.09 by $1.03. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The company had revenue of $38.36 billion during the quarter, compared to analysts’ expectations of $36.66 billion. During the same quarter in the previous year, the company posted $5.32 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, research analysts expect that Marathon Petroleum Co. will post 8.71 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 2.50%. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s dividend payout ratio is 16.48%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MPC shares. Piper Sandler lowered their price target on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday, September 20th. Wolfe Research began coverage on Marathon Petroleum in a research report on Thursday, July 18th. They issued an “outperform” rating and a $200.00 target price for the company. Tudor Pickering cut Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, September 9th. Citigroup dropped their price objective on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating on the stock in a research note on Thursday, October 10th. Finally, BMO Capital Markets dropped their price objective on Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Two analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $187.00.

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.