Bank of Montreal Can Sells 96,219 Shares of Marathon Petroleum Co. (NYSE:MPC)

Bank of Montreal Can cut its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 9.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 914,054 shares of the oil and gas company’s stock after selling 96,219 shares during the quarter. Bank of Montreal Can owned approximately 0.26% of Marathon Petroleum worth $160,234,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of MPC. FinTrust Capital Advisors LLC boosted its position in shares of Marathon Petroleum by 400.0% during the 1st quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 100 shares in the last quarter. Crewe Advisors LLC acquired a new position in Marathon Petroleum during the 1st quarter worth approximately $29,000. ICA Group Wealth Management LLC bought a new position in Marathon Petroleum in the fourth quarter worth approximately $30,000. Vima LLC acquired a new stake in Marathon Petroleum in the fourth quarter valued at approximately $30,000. Finally, TruNorth Capital Management LLC bought a new stake in shares of Marathon Petroleum during the second quarter valued at approximately $35,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MPC has been the subject of several research reports. Wolfe Research assumed coverage on shares of Marathon Petroleum in a research report on Thursday, July 18th. They issued an “outperform” rating and a $200.00 price target for the company. Wells Fargo & Company dropped their price objective on shares of Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Tudor Pickering downgraded shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, September 9th. StockNews.com cut shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. Finally, Piper Sandler decreased their price objective on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a report on Friday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $197.69.

Marathon Petroleum Stock Down 0.1 %

Shares of NYSE:MPC opened at $164.21 on Tuesday. Marathon Petroleum Co. has a 1 year low of $139.32 and a 1 year high of $221.11. The company has a market capitalization of $57.86 billion, a PE ratio of 8.20, a price-to-earnings-growth ratio of 2.09 and a beta of 1.38. The business has a fifty day moving average price of $169.94 and a two-hundred day moving average price of $179.73. 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 quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, beating the consensus estimate of $3.09 by $1.03. The company had revenue of $38.36 billion during the quarter, compared to analyst estimates 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 quarter in the prior year, the business earned $5.32 earnings per share. Analysts forecast that Marathon Petroleum Co. will post 12.68 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were issued a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 2.01%. The ex-dividend date was Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio (DPR) is 16.48%.

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.