Blue Trust Inc. Has $346,000 Holdings in Marathon Petroleum Corporation $MPC

Blue Trust Inc. reduced its stake in Marathon Petroleum Corporation (NYSE:MPC) by 3.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,086 shares of the oil and gas company’s stock after selling 67 shares during the period. Blue Trust Inc.’s holdings in Marathon Petroleum were worth $346,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Callan Family Office LLC boosted its position in Marathon Petroleum by 156.8% in the second quarter. Callan Family Office LLC now owns 8,466 shares of the oil and gas company’s stock valued at $1,406,000 after buying an additional 5,169 shares in the last quarter. Sitrin Capital Management LLC boosted its position in Marathon Petroleum by 16.9% in the second quarter. Sitrin Capital Management LLC now owns 37,285 shares of the oil and gas company’s stock valued at $6,193,000 after buying an additional 5,398 shares in the last quarter. Valmark Advisers Inc. boosted its holdings in shares of Marathon Petroleum by 3.8% during the 2nd quarter. Valmark Advisers Inc. now owns 3,946 shares of the oil and gas company’s stock valued at $655,000 after acquiring an additional 145 shares in the last quarter. Sax Wealth Advisors LLC boosted its holdings in shares of Marathon Petroleum by 6.9% during the 2nd quarter. Sax Wealth Advisors LLC now owns 2,796 shares of the oil and gas company’s stock valued at $464,000 after acquiring an additional 181 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Marathon Petroleum by 5.6% during the 2nd quarter. Venturi Wealth Management LLC now owns 2,476 shares of the oil and gas company’s stock valued at $411,000 after acquiring an additional 132 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Molly R. Benson sold 10,879 shares of the business’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the transaction, the insider owned 28,700 shares in the company, valued at $4,678,100. The trade was a 27.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on MPC. Raymond James Financial lifted their price target on Marathon Petroleum from $195.00 to $199.00 and gave the company an “outperform” rating in a research note on Tuesday, September 9th. Morgan Stanley lifted their target price on shares of Marathon Petroleum from $182.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, October 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Marathon Petroleum in a research report on Wednesday, October 8th. Dbs Bank upgraded shares of Marathon Petroleum to a “moderate buy” rating in a research report on Monday, July 28th. Finally, Wells Fargo & Company lifted their price target on shares of Marathon Petroleum from $182.00 to $205.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Eight analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $199.31.

Marathon Petroleum Stock Up 1.4%

Shares of NYSE:MPC opened at $183.36 on Tuesday. The company has a market capitalization of $55.75 billion, a price-to-earnings ratio of 27.20, a P/E/G ratio of 3.04 and a beta of 0.90. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71. The business’s 50-day moving average is $179.03 and its 200-day moving average is $163.99. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $201.61.

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

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were paid a $0.91 dividend. 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 54.01%.

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.