OLD Point Trust & Financial Services N A Cuts Stake in Marathon Petroleum Corporation $MPC

OLD Point Trust & Financial Services N A reduced its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 11.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,525 shares of the oil and gas company’s stock after selling 700 shares during the quarter. OLD Point Trust & Financial Services N A’s holdings in Marathon Petroleum were worth $918,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Ethic Inc. grew its holdings in Marathon Petroleum by 1.1% during the 2nd quarter. Ethic Inc. now owns 8,979 shares of the oil and gas company’s stock valued at $1,503,000 after buying an additional 100 shares in the last quarter. Greatmark Investment Partners Inc. grew its holdings in Marathon Petroleum by 2.9% during the 2nd quarter. Greatmark Investment Partners Inc. now owns 168,603 shares of the oil and gas company’s stock valued at $28,007,000 after buying an additional 4,820 shares in the last quarter. Caliber Wealth Management LLC KS grew its holdings in Marathon Petroleum by 6.3% during the 2nd quarter. Caliber Wealth Management LLC KS now owns 24,409 shares of the oil and gas company’s stock valued at $4,055,000 after buying an additional 1,436 shares in the last quarter. Parcion Private Wealth LLC grew its holdings in Marathon Petroleum by 2.3% during the 2nd quarter. Parcion Private Wealth LLC now owns 34,403 shares of the oil and gas company’s stock valued at $5,715,000 after buying an additional 789 shares in the last quarter. Finally, Adams Natural Resources Fund Inc. grew its holdings in shares of Marathon Petroleum by 392.0% in the second quarter. Adams Natural Resources Fund Inc. now owns 104,312 shares of the oil and gas company’s stock valued at $17,327,000 after purchasing an additional 83,111 shares in the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the firm’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $163.00, for a total value of $1,773,277.00. Following the completion of the sale, the insider directly owned 28,700 shares of the company’s stock, valued at $4,678,100. This trade represents a 27.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.21% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

MPC has been the subject of a number of recent research reports. TD Cowen cut their target price on shares of Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. Evercore ISI raised their target price on shares of Marathon Petroleum from $170.00 to $210.00 and gave the company an “in-line” rating in a report on Friday, September 19th. Raymond James Financial reissued an “outperform” rating and issued a $203.00 target price (up from $199.00) on shares of Marathon Petroleum in a report on Friday, October 17th. Morgan Stanley lifted their price objective on shares of Marathon Petroleum from $182.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, October 3rd. Finally, BMO Capital Markets lifted their price objective on shares of Marathon Petroleum from $195.00 to $208.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, Marathon Petroleum presently has an average rating of “Moderate Buy” and a consensus target price of $200.31.

Marathon Petroleum Stock Performance

Shares of Marathon Petroleum stock opened at $188.52 on Thursday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23. The company has a market capitalization of $57.31 billion, a PE ratio of 27.97, a P/E/G ratio of 2.85 and a beta of 0.90. The company has a 50-day simple moving average of $182.18 and a two-hundred day simple moving average of $165.87. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $201.61.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share for the quarter, topping the consensus estimate of $3.22 by $0.74. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The business had revenue of $34.10 billion during the quarter, compared to the consensus estimate of $31.70 billion. During the same period in the prior year, the company posted $4.12 EPS. The business’s quarterly revenue was down 11.1% on a year-over-year basis. Research 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 paid a $0.91 dividend. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.9%. Marathon Petroleum’s dividend payout ratio (DPR) is 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.