Zurcher Kantonalbank Zurich Cantonalbank Trims Holdings in Marathon Petroleum Co. (NYSE:MPC)

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in Marathon Petroleum Co. (NYSE:MPC) by 11.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 149,208 shares of the oil and gas company’s stock after selling 18,452 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Marathon Petroleum were worth $20,815,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. OLD Second National Bank of Aurora lifted its position in shares of Marathon Petroleum by 7.2% in the 4th quarter. OLD Second National Bank of Aurora now owns 994 shares of the oil and gas company’s stock valued at $139,000 after acquiring an additional 67 shares in the last quarter. Nixon Peabody Trust Co. raised its stake in Marathon Petroleum by 3.4% during the 4th quarter. Nixon Peabody Trust Co. now owns 2,068 shares of the oil and gas company’s stock valued at $288,000 after purchasing an additional 68 shares during the period. Lake Street Advisors Group LLC lifted its holdings in shares of Marathon Petroleum by 1.6% in the fourth quarter. Lake Street Advisors Group LLC now owns 4,271 shares of the oil and gas company’s stock valued at $596,000 after purchasing an additional 69 shares in the last quarter. American Trust boosted its position in shares of Marathon Petroleum by 5.3% in the third quarter. American Trust now owns 1,397 shares of the oil and gas company’s stock worth $228,000 after buying an additional 70 shares during the period. Finally, DT Investment Partners LLC grew its holdings in shares of 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 buying an additional 70 shares in the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MPC has been the subject of several research analyst reports. Wells Fargo & Company increased their price objective on Marathon Petroleum from $182.00 to $183.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Piper Sandler decreased their price target on shares of Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Raymond James upped their price objective on shares of Marathon Petroleum from $190.00 to $192.00 and gave the company a “strong-buy” rating in a research note on Friday, January 17th. Mizuho decreased their target price on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Finally, TD Cowen reaffirmed a “buy” rating and issued a $170.00 price target on shares of Marathon Petroleum in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $182.00.

Marathon Petroleum Stock Down 1.2 %

Shares of Marathon Petroleum stock opened at $134.65 on Wednesday. Marathon Petroleum Co. has a 12-month low of $130.54 and a 12-month high of $221.11. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. The stock has a 50 day moving average price of $148.53 and a two-hundred day moving average price of $153.62. The stock has a market capitalization of $42.09 billion, a P/E ratio of 13.56, a PEG ratio of 3.11 and a beta of 1.39.

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

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Wednesday, February 19th were given a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $3.64 annualized dividend and a dividend yield of 2.70%. Marathon Petroleum’s dividend payout ratio is presently 36.66%.

Insider Activity at Marathon Petroleum

In related news, Director Evan Bayh bought 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average cost of $133.70 per share, for a total transaction of $133,700.00. Following the purchase, the director now directly owns 69,305 shares in the company, valued at $9,266,078.50. This trade represents a 1.46 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.21% of the stock is owned by corporate insiders.

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.