Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Truist Financial Corp

Truist Financial Corp cut its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 30.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 55,271 shares of the oil and gas company’s stock after selling 24,073 shares during the period. Truist Financial Corp’s holdings in Marathon Petroleum were worth $7,710,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Catalyst Financial Partners LLC lifted its position in Marathon Petroleum by 1.6% during 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. OLD Second National Bank of Aurora lifted its position in Marathon Petroleum by 7.2% during the fourth quarter. OLD Second National Bank of Aurora now owns 994 shares of the oil and gas company’s stock valued at $139,000 after purchasing an additional 67 shares during the period. American Trust lifted its position in Marathon Petroleum by 5.3% during the third quarter. American Trust now owns 1,397 shares of the oil and gas company’s stock valued at $228,000 after purchasing an additional 70 shares during the period. DT Investment Partners LLC lifted its position in Marathon Petroleum by 21.5% during the fourth quarter. DT Investment Partners LLC now owns 395 shares of the oil and gas company’s stock valued at $55,000 after purchasing an additional 70 shares during the period. Finally, Financial Partners Group LLC raised its position in shares of Marathon Petroleum by 3.3% in the third quarter. Financial Partners Group LLC now owns 2,220 shares of the oil and gas company’s stock worth $362,000 after acquiring an additional 71 shares during the period. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Jeffrey C. Campbell purchased 6,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was acquired at an average price of $149.61 per share, with a total value of $897,660.00. Following the purchase, the director now directly owns 6,090 shares in the company, valued at approximately $911,124.90. This represents a 6,666.67 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.21% of the company’s stock.

Marathon Petroleum Stock Down 2.8 %

Shares of NYSE MPC opened at $153.81 on Friday. Marathon Petroleum Co. has a 12-month low of $130.54 and a 12-month high of $221.11. The stock has a market cap of $49.43 billion, a PE ratio of 15.49, a P/E/G ratio of 3.08 and a beta of 1.41. 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 company has a 50-day moving average of $146.72 and a 200 day moving average of $156.59.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.71. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The company had revenue of $33.47 billion during the quarter, compared to analysts’ expectations of $31.94 billion. During the same quarter in the prior year, the company earned $3.98 EPS. Marathon Petroleum’s revenue was down 9.1% compared to the same quarter last year. As a group, sell-side analysts predict that Marathon Petroleum Co. will post 8.47 EPS for the current fiscal year.

Marathon Petroleum announced that its board has authorized a stock repurchase plan 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 shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th will be paid a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $3.64 annualized dividend and a dividend yield of 2.37%. Marathon Petroleum’s dividend payout ratio (DPR) is 36.66%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MPC. TD Cowen reiterated a “buy” rating and issued a $170.00 price objective on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Wells Fargo & Company upped their price objective on shares of Marathon Petroleum from $182.00 to $183.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Mizuho decreased their price objective on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Raymond James upped their price objective on shares of Marathon Petroleum from $190.00 to $192.00 and gave the stock a “strong-buy” rating in a research report on Friday, January 17th. Finally, Barclays decreased their price objective on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and an average target price of $181.27.

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.