Busey Bank Has $2.08 Million Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Busey Bank cut its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 9.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,762 shares of the oil and gas company’s stock after selling 1,363 shares during the period. Busey Bank’s holdings in Marathon Petroleum were worth $2,079,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Founders Financial Securities LLC grew its position in shares of Marathon Petroleum by 22.8% during the 2nd quarter. Founders Financial Securities LLC now owns 4,972 shares of the oil and gas company’s stock worth $863,000 after buying an additional 924 shares during the period. Fidelis Capital Partners LLC increased its stake in Marathon Petroleum by 3.2% in the first quarter. Fidelis Capital Partners LLC now owns 3,050 shares of the oil and gas company’s stock valued at $615,000 after purchasing an additional 94 shares in the last quarter. LRI Investments LLC acquired a new stake in Marathon Petroleum in the first quarter worth $97,000. Magnolia Capital Advisors LLC boosted its position in shares of Marathon Petroleum by 353.4% during the second quarter. Magnolia Capital Advisors LLC now owns 55,989 shares of the oil and gas company’s stock worth $9,713,000 after purchasing an additional 43,639 shares in the last quarter. Finally, Granite Bay Wealth Management LLC acquired a new position in shares of Marathon Petroleum in the 2nd quarter valued at $4,075,000. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Down 0.6 %

NYSE:MPC opened at $152.88 on Friday. Marathon Petroleum Co. has a twelve month low of $140.98 and a twelve month high of $221.11. The firm has a market capitalization of $51.17 billion, a price-to-earnings ratio of 8.03, a price-to-earnings-growth ratio of 3.03 and a beta of 1.37. The company has a quick ratio of 0.90, a current ratio of 1.31 and a debt-to-equity ratio of 0.86. The stock’s 50 day moving average price is $166.48 and its two-hundred day moving average price is $174.39.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $1.03. The business had revenue of $38.36 billion for the quarter, compared to the consensus estimate of $36.66 billion. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the previous year, the company earned $5.32 earnings per share. Equities research analysts expect that Marathon Petroleum Co. will post 8.71 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were paid a $0.825 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $3.30 annualized dividend and a yield of 2.16%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 17.34%.

Analysts Set New Price Targets

Several research analysts have weighed in on MPC shares. Tudor, Pickering, Holt & Co. lowered Marathon Petroleum from a “buy” rating to a “sell” rating in a report on Monday, September 9th. Tudor Pickering lowered Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, September 9th. Bank of America started coverage on shares of Marathon Petroleum in a report on Thursday, October 17th. They set a “neutral” rating and a $174.00 target price on the stock. Citigroup reduced their price target on shares of Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Finally, Wolfe Research started coverage on shares of Marathon Petroleum in a report on Thursday, July 18th. They set an “outperform” rating and a $200.00 price objective on the stock. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.