Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Trust Point Inc.

Trust Point Inc. trimmed its holdings in Marathon Petroleum Co. (NYSE:MPC) by 3.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,655 shares of the oil and gas company’s stock after selling 163 shares during the quarter. Trust Point Inc.’s holdings in Marathon Petroleum were worth $758,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MPC. Aaron Wealth Advisors LLC lifted its stake in shares of Marathon Petroleum by 9.0% in the 3rd quarter. Aaron Wealth Advisors LLC now owns 2,281 shares of the oil and gas company’s stock worth $372,000 after acquiring an additional 189 shares during the period. Claro Advisors LLC lifted its position in Marathon Petroleum by 82.6% in the third quarter. Claro Advisors LLC now owns 2,357 shares of the oil and gas company’s stock worth $384,000 after purchasing an additional 1,066 shares during the period. DiNuzzo Private Wealth Inc. boosted its stake in Marathon Petroleum by 118.6% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 763 shares of the oil and gas company’s stock valued at $124,000 after purchasing an additional 414 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Marathon Petroleum by 0.7% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 37,791 shares of the oil and gas company’s stock valued at $6,157,000 after purchasing an additional 264 shares during the period. Finally, TruWealth Advisors LLC raised its stake in shares of Marathon Petroleum by 3.4% in the 3rd quarter. TruWealth Advisors LLC now owns 75,196 shares of the oil and gas company’s stock worth $12,250,000 after buying an additional 2,498 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Stock Down 0.0 %

Shares of Marathon Petroleum stock opened at $158.26 on Friday. The stock has a 50-day simple moving average of $167.72 and a 200-day simple moving average of $175.90. Marathon Petroleum Co. has a 52-week low of $140.98 and a 52-week high of $221.11. The firm has a market cap of $55.76 billion, a price-to-earnings ratio of 7.91, a P/E/G ratio of 2.65 and a beta of 1.37. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.31 and a quick ratio of 0.90.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, topping the consensus estimate of $3.09 by $1.03. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The company had revenue of $38.36 billion during the quarter, compared to the consensus estimate of $36.66 billion. During the same period in the previous year, the firm posted $5.32 earnings per share. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities research analysts expect that Marathon Petroleum Co. will post 10.22 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were issued a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend was Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio is 16.48%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MPC. Morgan Stanley dropped their price target on shares of Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. JPMorgan Chase & Co. cut their target price on shares of Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Scotiabank decreased their price target on shares of Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Piper Sandler reduced their price objective on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. Finally, Tudor Pickering lowered Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, September 9th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $187.00.

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.