Sanibel Captiva Trust Company Inc. Decreases Position in Marathon Petroleum Co. (NYSE:MPC)

Sanibel Captiva Trust Company Inc. lowered its stake in Marathon Petroleum Co. (NYSE:MPC) by 1.9% in the first quarter, Holdings Channel.com reports. The institutional investor owned 66,424 shares of the oil and gas company’s stock after selling 1,314 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Marathon Petroleum were worth $9,677,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Simplicity Wealth LLC raised its stake in shares of Marathon Petroleum by 16.0% during the first quarter. Simplicity Wealth LLC now owns 3,213 shares of the oil and gas company’s stock valued at $468,000 after purchasing an additional 444 shares during the period. GAMMA Investing LLC grew its holdings in Marathon Petroleum by 3.4% during the 1st quarter. GAMMA Investing LLC now owns 10,577 shares of the oil and gas company’s stock valued at $1,541,000 after purchasing an additional 351 shares in the last quarter. Wealthcare Advisory Partners LLC increased its stake in Marathon Petroleum by 57.3% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 6,183 shares of the oil and gas company’s stock worth $901,000 after buying an additional 2,252 shares during the period. Pallas Capital Advisors LLC boosted its position in Marathon Petroleum by 25.7% in the 1st quarter. Pallas Capital Advisors LLC now owns 7,161 shares of the oil and gas company’s stock valued at $1,043,000 after buying an additional 1,466 shares during the last quarter. Finally, WFA Asset Management Corp grew its stake in shares of Marathon Petroleum by 21.2% during the first quarter. WFA Asset Management Corp now owns 909 shares of the oil and gas company’s stock valued at $132,000 after acquiring an additional 159 shares in the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $160.25 on Tuesday. The company has a market cap of $49.23 billion, a P/E ratio of 16.14, a PEG ratio of 3.11 and a beta of 0.89. The business has a 50 day moving average of $144.11 and a two-hundred day moving average of $146.08. Marathon Petroleum Co. has a 52 week low of $115.10 and a 52 week high of $183.31. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.16. The firm had revenue of $31.85 billion during the quarter, compared to the consensus estimate of $28.91 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The firm’s revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.58 EPS. As a group, analysts anticipate that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be given a $0.91 dividend. The ex-dividend date is Wednesday, May 21st. This represents a $3.64 annualized dividend and a yield of 2.27%. Marathon Petroleum’s dividend payout ratio is presently 51.20%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on MPC shares. Piper Sandler cut their price target on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Scotiabank dropped their price objective on Marathon Petroleum from $169.00 to $147.00 and set a “sector outperform” rating on the stock in a report on Friday, April 11th. Mizuho increased their target price on Marathon Petroleum from $168.00 to $184.00 and gave the company a “neutral” rating in a research note on Tuesday, May 13th. Morgan Stanley decreased their price target on shares of Marathon Petroleum from $175.00 to $160.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. Finally, Wall Street Zen raised shares of Marathon Petroleum from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.29.

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.