US Bancorp DE Sells 30,996 Shares of Marathon Petroleum Co. (NYSE:MPC)

US Bancorp DE reduced its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 1.6% during the third quarter, HoldingsChannel.com reports. The fund owned 1,949,270 shares of the oil and gas company’s stock after selling 30,996 shares during the quarter. US Bancorp DE’s holdings in Marathon Petroleum were worth $317,556,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Catalyst Financial Partners LLC raised its stake in shares of Marathon Petroleum by 1.6% during the 3rd quarter. Catalyst Financial Partners LLC now owns 4,285 shares of the oil and gas company’s stock worth $698,000 after purchasing an additional 67 shares during the period. SteelPeak Wealth LLC increased its holdings in Marathon Petroleum by 36.8% during the third quarter. SteelPeak Wealth LLC now owns 25,736 shares of the oil and gas company’s stock worth $4,193,000 after buying an additional 6,925 shares during the last quarter. Diversify Wealth Management LLC boosted its stake in Marathon Petroleum by 14.9% in the third quarter. Diversify Wealth Management LLC now owns 3,790 shares of the oil and gas company’s stock valued at $583,000 after acquiring an additional 492 shares during the last quarter. Pinnacle Associates Ltd. grew its position in shares of Marathon Petroleum by 20.4% during the 3rd quarter. Pinnacle Associates Ltd. now owns 42,389 shares of the oil and gas company’s stock valued at $6,289,000 after acquiring an additional 7,196 shares during the period. Finally, Pathway Financial Advisers LLC raised its holdings in shares of Marathon Petroleum by 30.9% in the 3rd quarter. Pathway Financial Advisers LLC now owns 436 shares of the oil and gas company’s stock worth $71,000 after purchasing an additional 103 shares during the period. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

Shares of MPC traded up $1.06 during trading hours on Thursday, reaching $145.82. 313,808 shares of the company’s stock traded hands, compared to its average volume of 2,661,757. Marathon Petroleum Co. has a 12 month low of $140.98 and a 12 month high of $221.11. The company has a current ratio of 1.31, a quick ratio of 0.90 and a debt-to-equity ratio of 0.86. The stock has a market cap of $51.38 billion, a PE ratio of 7.23, a price-to-earnings-growth ratio of 3.03 and a beta of 1.37. The firm’s 50 day simple moving average is $163.74 and its 200-day simple moving average is $172.18.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.09 by $1.03. The business 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%. Marathon Petroleum’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the previous year, the business posted $5.32 earnings per share. Equities analysts expect that Marathon Petroleum Co. will post 8.71 EPS for the current year.

Marathon Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be given a $0.91 dividend. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. This represents a $3.64 annualized dividend and a yield of 2.50%. Marathon Petroleum’s payout ratio is 16.48%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Wells Fargo & Company decreased their target price on Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Mizuho lowered their price objective on Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Jefferies Financial Group lifted their target price on shares of Marathon Petroleum from $222.00 to $231.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Bank of America assumed coverage on shares of Marathon Petroleum in a research note on Thursday, October 17th. They set a “neutral” rating and a $174.00 price target on the stock. Finally, Tudor, Pickering, Holt & Co. lowered shares of Marathon Petroleum from a “buy” rating to a “sell” rating in a research note on Monday, September 9th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $187.00.

About Marathon Petroleum

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.