First Citizens Bank & Trust Co. Has $4.56 Million Position in Marathon Petroleum Co. (NYSE:MPC)

First Citizens Bank & Trust Co. cut its holdings in Marathon Petroleum Co. (NYSE:MPC) by 2.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 31,273 shares of the oil and gas company’s stock after selling 701 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Marathon Petroleum were worth $4,556,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fourth Dimension Wealth LLC acquired a new stake in shares of Marathon Petroleum in the fourth quarter valued at $26,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Marathon Petroleum in the fourth quarter valued at $27,000. Asset Planning Inc acquired a new stake in shares of Marathon Petroleum in the fourth quarter valued at $28,000. Sierra Ocean LLC acquired a new stake in shares of Marathon Petroleum in the fourth quarter valued at $31,000. Finally, Cape Investment Advisory Inc. increased its stake in shares of Marathon Petroleum by 762.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company’s stock valued at $42,000 after buying an additional 267 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on MPC shares. Barclays lifted their price objective on Marathon Petroleum from $141.00 to $159.00 and gave the stock an “overweight” rating in a research report on Monday, May 12th. Piper Sandler lowered their price objective on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. TD Cowen lifted their price objective on Marathon Petroleum from $142.00 to $152.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. Scotiabank lowered their price objective on Marathon Petroleum from $169.00 to $147.00 and set a “sector outperform” rating for the company in a research report on Friday, April 11th. Finally, Wells Fargo & Company lifted their price objective on Marathon Petroleum from $175.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.29.

Marathon Petroleum Trading Up 0.1%

NYSE:MPC opened at $160.25 on Tuesday. Marathon Petroleum Co. has a fifty-two week low of $115.10 and a fifty-two week high of $183.31. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. The stock has a market capitalization of $49.23 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 3.11 and a beta of 0.89. The business’s 50-day simple moving average is $144.11 and its 200-day simple moving average is $146.08.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.16. The firm had revenue of $31.85 billion for the quarter, compared to analysts’ expectations of $28.91 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.58 EPS. Sell-side analysts expect that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be paid a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 2.27%. The ex-dividend date is Wednesday, May 21st. Marathon Petroleum’s payout ratio is 51.20%.

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.