Amalgamated Bank Lowers Holdings in Marathon Petroleum Corporation $MPC

Amalgamated Bank trimmed its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 3.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,825 shares of the oil and gas company’s stock after selling 2,290 shares during the period. Amalgamated Bank’s holdings in Marathon Petroleum were worth $9,938,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Silver Oak Securities Incorporated purchased a new position in shares of Marathon Petroleum in the first quarter valued at about $339,000. Jump Financial LLC lifted its position in shares of Marathon Petroleum by 128.0% in the first quarter. Jump Financial LLC now owns 8,663 shares of the oil and gas company’s stock valued at $1,262,000 after acquiring an additional 4,863 shares in the last quarter. Weatherly Asset Management L. P. bought a new stake in shares of Marathon Petroleum in the first quarter worth about $216,000. Journey Strategic Wealth LLC increased its holdings in shares of Marathon Petroleum by 105.0% in the first quarter. Journey Strategic Wealth LLC now owns 8,582 shares of the oil and gas company’s stock worth $1,250,000 after purchasing an additional 4,396 shares during the last quarter. Finally, FSM Wealth Advisors LLC bought a new stake in shares of Marathon Petroleum in the second quarter worth about $685,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MPC shares. UBS Group lifted their target price on Marathon Petroleum from $203.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, September 26th. Scotiabank reaffirmed an “outperform” rating on shares of Marathon Petroleum in a report on Thursday, October 9th. Wolfe Research lowered shares of Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 14th. Morgan Stanley increased their price objective on shares of Marathon Petroleum from $182.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, October 3rd. Finally, Barclays increased their price objective on shares of Marathon Petroleum from $176.00 to $194.00 and gave the company an “overweight” rating in a research report on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, Marathon Petroleum has an average rating of “Moderate Buy” and an average price target of $200.31.

Insider Activity at Marathon Petroleum

In other news, insider Molly R. Benson sold 10,879 shares of the company’s stock in a transaction that occurred on Friday, August 15th. The stock was 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 of the company’s stock, valued at approximately $4,678,100. This represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.21% of the company’s stock.

Marathon Petroleum Trading Down 0.1%

Shares of NYSE MPC opened at $195.64 on Friday. The business’s 50 day moving average is $185.96 and its two-hundred day moving average is $169.14. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $201.61. The stock has a market capitalization of $59.48 billion, a P/E ratio of 29.03, a PEG ratio of 4.10 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data 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 company had revenue of $34.10 billion for the quarter, compared to analysts’ expectations of $31.70 billion. During the same period in the previous year, the firm posted $4.12 earnings per share. The firm’s revenue for the quarter was down 11.1% on a year-over-year basis. As a group, research analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 19th will be paid a dividend of $1.00 per share. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.91. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Wednesday, November 19th. Marathon Petroleum’s payout ratio is currently 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.