Eastern Bank Sells 253 Shares of Marathon Petroleum Corporation $MPC

Eastern Bank lessened its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 8.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,723 shares of the oil and gas company’s stock after selling 253 shares during the period. Eastern Bank’s holdings in Marathon Petroleum were worth $452,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. CBIZ Investment Advisory Services LLC increased its stake in shares of Marathon Petroleum by 1,546.2% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 201 shares during the last quarter. Hughes Financial Services LLC bought a new position in shares of Marathon Petroleum in the 1st quarter valued at $32,000. WPG Advisers LLC bought a new position in shares of Marathon Petroleum in the 1st quarter valued at $32,000. Decker Retirement Planning Inc. increased its stake in shares of Marathon Petroleum by 1,621.4% in the 1st quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 227 shares during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC bought a new position in shares of Marathon Petroleum in the 1st quarter valued at $35,000. Institutional investors own 76.77% of the company’s stock.

Analyst Upgrades and Downgrades

MPC has been the topic of several recent analyst reports. BMO Capital Markets lifted their price target on Marathon Petroleum from $195.00 to $208.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Mizuho lifted their price target on Marathon Petroleum from $184.00 to $188.00 and gave the company a “neutral” rating in a research note on Monday, September 15th. Barclays lifted their price target on Marathon Petroleum from $159.00 to $189.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Citigroup raised their price objective on Marathon Petroleum from $144.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, July 16th. Finally, Dbs Bank raised Marathon Petroleum to a “moderate buy” rating in a report on Monday, July 28th. Eight analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $198.92.

Insider Buying and Selling

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the transaction, the insider directly owned 28,700 shares of the company’s stock, valued at approximately $4,678,100. The trade was a 27.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.21% of the company’s stock.

Marathon Petroleum Trading Down 3.5%

NYSE MPC opened at $181.08 on Friday. The company has a market cap of $55.05 billion, a price-to-earnings ratio of 26.87, a price-to-earnings-growth ratio of 3.04 and a beta of 0.90. Marathon Petroleum Corporation has a twelve month low of $115.10 and a twelve month high of $201.61. The business’s fifty day moving average is $178.73 and its 200 day moving average is $163.60. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, topping the consensus estimate of $3.22 by $0.74. The firm had revenue of $34.10 billion for the quarter, compared to the consensus estimate of $31.70 billion. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The business’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same period in the previous year, the business earned $4.12 EPS. As a group, sell-side analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were issued a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $3.64 annualized dividend and a yield of 2.0%. Marathon Petroleum’s payout ratio is presently 54.01%.

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.