Capital City Trust Co. FL Purchases 167 Shares of Marathon Petroleum Co. (NYSE:MPC)

Capital City Trust Co. FL boosted its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 0.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 31,103 shares of the oil and gas company’s stock after buying an additional 167 shares during the quarter. Marathon Petroleum makes up about 1.3% of Capital City Trust Co. FL’s holdings, making the stock its 25th biggest holding. Capital City Trust Co. FL’s holdings in Marathon Petroleum were worth $5,067,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MPC. Islay Capital Management LLC raised its stake in shares of Marathon Petroleum by 3.8% during the third quarter. Islay Capital Management LLC now owns 7,284 shares of the oil and gas company’s stock valued at $1,187,000 after acquiring an additional 266 shares during the last quarter. Aljian Capital Management LLC bought a new position in Marathon Petroleum during the 3rd quarter valued at approximately $464,000. Thrivent Financial for Lutherans lifted its holdings in Marathon Petroleum by 3.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 468,935 shares of the oil and gas company’s stock worth $76,394,000 after buying an additional 15,434 shares during the period. Claro Advisors LLC grew its position in shares of Marathon Petroleum by 32.5% in the 3rd quarter. Claro Advisors LLC now owns 1,710 shares of the oil and gas company’s stock worth $279,000 after buying an additional 419 shares during the last quarter. Finally, Tower Bridge Advisors increased its stake in shares of Marathon Petroleum by 54.8% during the third quarter. Tower Bridge Advisors now owns 6,780 shares of the oil and gas company’s stock valued at $1,105,000 after buying an additional 2,400 shares during the period. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Analyst Upgrades and Downgrades

MPC has been the topic of several recent analyst reports. Scotiabank cut their price target on shares of Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. BMO Capital Markets cut their target price on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Piper Sandler decreased their price target on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. JPMorgan Chase & Co. cut their price objective on Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Finally, TD Cowen decreased their target price on Marathon Petroleum from $174.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $185.07.

Marathon Petroleum Price Performance

MPC opened at $157.52 on Monday. The firm has a market cap of $50.63 billion, a PE ratio of 12.48, a P/E/G ratio of 2.74 and a beta of 1.38. The stock has a 50-day moving average price of $159.06 and a 200-day moving average price of $168.26. Marathon Petroleum Co. has a 1 year low of $140.98 and a 1 year high of $221.11. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.90. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The business had revenue of $35.37 billion during the quarter, compared to analysts’ expectations of $34.34 billion. During the same period in the previous year, the company earned $8.14 earnings per share. The business’s revenue for the quarter was down 14.9% compared to the same quarter last year. Sell-side analysts predict that Marathon Petroleum Co. will post 9.59 earnings per share for the current fiscal year.

Marathon Petroleum announced that its board has initiated a share buyback plan on Tuesday, November 5th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the oil and gas company to repurchase up to 10% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Marathon Petroleum Increases Dividend

The firm 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 $0.91 dividend. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.31%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 26.15%.

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.