Marathon Petroleum Co. (NYSE:MPC) Position Increased by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division raised its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 27.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 635 shares of the oil and gas company’s stock after buying an additional 135 shares during the period. Central Pacific Bank Trust Division’s holdings in Marathon Petroleum were worth $103,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in MPC. Scarborough Advisors LLC grew its position in Marathon Petroleum by 10.7% in the fourth quarter. Scarborough Advisors LLC now owns 2,174 shares of the oil and gas company’s stock valued at $323,000 after acquiring an additional 210 shares during the period. Global Assets Advisory LLC acquired a new stake in shares of Marathon Petroleum during the first quarter worth approximately $36,823,000. Founders Financial Securities LLC grew its position in 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 acquiring an additional 924 shares during the last quarter. Fidelis Capital Partners LLC raised its position in Marathon Petroleum by 3.2% in the 1st 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 during the last quarter. Finally, LRI Investments LLC bought a new stake in Marathon Petroleum during the 1st quarter worth about $97,000. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Stock Performance

Shares of NYSE MPC traded down $2.86 during mid-day trading on Friday, reaching $171.98. 2,241,691 shares of the company were exchanged, compared to its average volume of 2,697,056. Marathon Petroleum Co. has a twelve month low of $139.93 and a twelve month high of $221.11. The stock has a market capitalization of $60.59 billion, a P/E ratio of 8.59, a P/E/G ratio of 2.59 and a beta of 1.37. The company’s 50-day simple moving average is $169.69 and its 200-day simple moving average is $178.52. The company has a quick ratio of 0.90, a current ratio of 1.31 and a debt-to-equity ratio of 0.86.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $1.03. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The business had revenue of $38.36 billion for the quarter, compared to analyst estimates of $36.66 billion. During the same period last year, the firm earned $5.32 earnings per share. Marathon Petroleum’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, research analysts predict that Marathon Petroleum Co. will post 10.56 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were issued a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend was Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio is currently 16.48%.

Analysts Set New Price Targets

A number of brokerages have commented on MPC. Mizuho decreased their price objective on Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. TD Cowen raised their target price on shares of Marathon Petroleum from $187.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Piper Sandler cut their price objective on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, September 20th. Barclays cut their price objective on shares of Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating on the stock in a report on Monday, July 1st. Finally, Jefferies Financial Group upped their target price on shares of Marathon Petroleum from $222.00 to $231.00 and gave the company a “buy” rating in a research note on Monday, July 15th. 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $196.14.

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.