US Bancorp DE Sells 30,996 Shares of Marathon Petroleum Co. (NYSE:MPC)

US Bancorp DE reduced its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 1.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,949,270 shares of the oil and gas company’s stock after selling 30,996 shares during the period. US Bancorp DE owned about 0.55% of Marathon Petroleum worth $317,556,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in MPC. Catalyst Financial Partners LLC increased its holdings in Marathon Petroleum by 1.6% in the third quarter. Catalyst Financial Partners LLC now owns 4,285 shares of the oil and gas company’s stock valued at $698,000 after purchasing an additional 67 shares during the period. SteelPeak Wealth LLC grew its position in shares of Marathon Petroleum by 36.8% in the 3rd quarter. SteelPeak Wealth LLC now owns 25,736 shares of the oil and gas company’s stock valued at $4,193,000 after buying an additional 6,925 shares during the last quarter. Diversify Wealth Management LLC increased its stake in shares of Marathon Petroleum by 14.9% in the third quarter. Diversify Wealth Management LLC now owns 3,790 shares of the oil and gas company’s stock valued at $583,000 after buying an additional 492 shares during the period. Pinnacle Associates Ltd. raised its position in shares of Marathon Petroleum by 20.4% during the third quarter. Pinnacle Associates Ltd. now owns 42,389 shares of the oil and gas company’s stock worth $6,289,000 after acquiring an additional 7,196 shares during the last quarter. Finally, Pathway Financial Advisers LLC lifted its stake in shares of Marathon Petroleum by 30.9% in the third quarter. Pathway Financial Advisers LLC now owns 436 shares of the oil and gas company’s stock worth $71,000 after acquiring an additional 103 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on MPC shares. Jefferies Financial Group increased their target price on shares of Marathon Petroleum from $222.00 to $231.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Morgan Stanley lowered their target price on shares of Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. JPMorgan Chase & Co. decreased their price target on Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. TD Cowen lifted their price objective on Marathon Petroleum from $187.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, Citigroup cut their target price on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $187.00.

Marathon Petroleum Stock Up 0.7 %

Shares of Marathon Petroleum stock traded up $1.06 during trading hours on Thursday, reaching $145.82. The company’s stock had a trading volume of 313,808 shares, compared to its average volume of 2,661,757. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 1.31. The stock’s fifty day simple moving average is $163.74 and its two-hundred day simple moving average is $172.18. The company has a market capitalization of $51.38 billion, a P/E ratio of 7.23, a P/E/G 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.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $1.03. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The firm had revenue of $38.36 billion during the quarter, compared to analyst estimates of $36.66 billion. During the same period in the previous year, the company posted $5.32 EPS. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, research analysts forecast that Marathon Petroleum Co. will post 8.71 earnings per share for the current year.

Marathon Petroleum Increases Dividend

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

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.