Marathon Petroleum Co. (NYSE:MPC) Shares Sold by AMG National Trust Bank

AMG National Trust Bank cut its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 0.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,118 shares of the oil and gas company’s stock after selling 103 shares during the quarter. AMG National Trust Bank’s holdings in Marathon Petroleum were worth $2,463,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. WR Wealth Planners LLC boosted its holdings in shares of Marathon Petroleum by 15.2% during the 2nd quarter. WR Wealth Planners LLC now owns 431 shares of the oil and gas company’s stock worth $75,000 after purchasing an additional 57 shares during the last quarter. Legacy Advisors LLC boosted its stake in Marathon Petroleum by 5.0% during the second quarter. Legacy Advisors LLC now owns 1,238 shares of the oil and gas company’s stock worth $215,000 after buying an additional 59 shares during the last quarter. Latitude Advisors LLC increased its stake in shares of Marathon Petroleum by 3.6% in the 2nd quarter. Latitude Advisors LLC now owns 1,714 shares of the oil and gas company’s stock worth $297,000 after acquiring an additional 60 shares during the last quarter. SouthState Corp raised its holdings in shares of Marathon Petroleum by 1.5% during the 2nd quarter. SouthState Corp now owns 4,122 shares of the oil and gas company’s stock worth $715,000 after acquiring an additional 61 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Marathon Petroleum by 0.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 7,165 shares of the oil and gas company’s stock valued at $1,268,000 after acquiring an additional 61 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Trading Up 1.6 %

Shares of MPC stock opened at $159.98 on Tuesday. The stock has a market capitalization of $51.42 billion, a P/E ratio of 12.68, a price-to-earnings-growth ratio of 2.74 and a beta of 1.38. Marathon Petroleum Co. has a fifty-two week low of $140.98 and a fifty-two week high of $221.11. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. The company has a 50 day moving average price of $159.00 and a 200 day moving average price of $168.10.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.90. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The business had revenue of $35.37 billion for the quarter, compared to analyst estimates of $34.34 billion. During the same quarter in the prior year, the company earned $8.14 earnings per share. The company’s revenue was down 14.9% on a year-over-year basis. Equities research analysts predict that Marathon Petroleum Co. will post 9.59 EPS for the current fiscal year.

Marathon Petroleum declared that its Board of Directors has initiated a share repurchase program on Tuesday, November 5th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the oil and gas company to reacquire up to 10% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Marathon Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.83. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.28%. Marathon Petroleum’s payout ratio is currently 26.15%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MPC. Piper Sandler cut their price objective on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. Tudor, Pickering, Holt & Co. lowered shares of Marathon Petroleum from a “buy” rating to a “sell” rating in a research report on Monday, September 9th. TD Cowen lowered their price objective 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. Barclays cut their target price on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Finally, Citigroup decreased their price target 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. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $185.07.

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.