Marathon Petroleum Corporation $MPC Stake Raised by Capital City Trust Co. FL

Capital City Trust Co. FL boosted its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 0.5% during the 2nd quarter, Holdings Channel.com reports. The fund owned 31,502 shares of the oil and gas company’s stock after purchasing an additional 157 shares during the quarter. Marathon Petroleum accounts for about 1.4% of Capital City Trust Co. FL’s portfolio, making the stock its 22nd biggest position. Capital City Trust Co. FL’s holdings in Marathon Petroleum were worth $5,233,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Marathon Petroleum by 12.3% during the 1st quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company’s stock worth $5,090,611,000 after buying an additional 3,834,501 shares during the period. Wellington Management Group LLP raised its holdings in Marathon Petroleum by 18.7% during the 1st quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company’s stock worth $1,722,664,000 after buying an additional 1,862,674 shares during the period. Raymond James Financial Inc. raised its holdings in Marathon Petroleum by 6.3% during the 1st quarter. Raymond James Financial Inc. now owns 6,037,532 shares of the oil and gas company’s stock worth $879,608,000 after buying an additional 355,215 shares during the period. Boston Partners raised its holdings in Marathon Petroleum by 58.5% during the 1st quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company’s stock worth $791,274,000 after buying an additional 2,011,810 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Marathon Petroleum by 3.7% during the 1st quarter. Bank of New York Mellon Corp now owns 4,982,348 shares of the oil and gas company’s stock worth $725,878,000 after buying an additional 178,397 shares during the period. 76.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on MPC. UBS Group boosted their price objective on Marathon Petroleum from $203.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, September 26th. Morgan Stanley upped their target price on Marathon Petroleum from $182.00 to $200.00 and gave the company an “overweight” rating in a report on Friday. Citigroup upped their target price on Marathon Petroleum from $144.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, July 16th. Bank of America upped their target price on Marathon Petroleum from $184.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, September 3rd. Finally, Dbs Bank upgraded Marathon Petroleum to a “moderate buy” rating in a report on Monday, July 28th. Eight investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $196.29.

Marathon Petroleum Trading Up 0.6%

Shares of NYSE MPC opened at $193.31 on Friday. The stock has a market cap of $58.77 billion, a price-to-earnings ratio of 28.68, a PEG ratio of 3.35 and a beta of 0.90. The business has a 50 day simple moving average of $177.02 and a 200 day simple moving average of $162.25. Marathon Petroleum Corporation has a 52 week low of $115.10 and a 52 week high of $201.61. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, beating the consensus estimate of $3.22 by $0.74. The business had revenue of $34.10 billion during the quarter, compared to analysts’ expectations of $31.70 billion. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The firm’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.12 EPS. On average, research analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were given a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a yield of 1.9%. Marathon Petroleum’s dividend payout ratio is presently 54.01%.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum 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 completion of the sale, the insider owned 28,700 shares of the company’s stock, valued at $4,678,100. This represents a 27.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is owned by insiders.

Marathon Petroleum Company 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.