Marathon Petroleum Co. (NYSE:MPC) Shares Sold by AMG National Trust Bank

AMG National Trust Bank reduced its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 0.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 15,118 shares of the oil and gas company’s stock after selling 103 shares during the quarter. AMG National Trust Bank’s holdings in Marathon Petroleum were worth $2,463,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Oppenheimer Asset Management Inc. increased its stake in Marathon Petroleum by 27.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 43,174 shares of the oil and gas company’s stock valued at $7,033,000 after purchasing an additional 9,355 shares during the last quarter. Founders Financial Securities LLC grew its position in shares of Marathon Petroleum by 22.8% in the 2nd quarter. Founders Financial Securities LLC now owns 4,972 shares of the oil and gas company’s stock valued at $863,000 after buying an additional 924 shares during the last quarter. Holistic Planning LLC acquired a new stake in Marathon Petroleum during the 3rd quarter worth $912,000. LRI Investments LLC purchased a new stake in Marathon Petroleum in the first quarter valued at $97,000. Finally, Magnolia Capital Advisors LLC boosted its stake in Marathon Petroleum by 353.4% in the second quarter. Magnolia Capital Advisors LLC now owns 55,989 shares of the oil and gas company’s stock valued at $9,713,000 after acquiring an additional 43,639 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $159.98 on Tuesday. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. Marathon Petroleum Co. has a 12-month low of $140.98 and a 12-month high of $221.11. The company has a market cap of $51.42 billion, a price-to-earnings ratio of 12.68, a price-to-earnings-growth ratio of 2.74 and a beta of 1.38. The stock has a 50 day simple moving average of $159.00 and a 200-day simple moving average of $168.10.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.90. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The company had revenue of $35.37 billion during the quarter, compared to the consensus estimate of $34.34 billion. During the same quarter last year, the company earned $8.14 earnings per share. Marathon Petroleum’s quarterly revenue was down 14.9% compared to the same quarter last year. On average, equities analysts forecast that Marathon Petroleum Co. will post 9.59 EPS for the current year.

Marathon Petroleum announced that its Board of Directors has approved a share buyback plan on Tuesday, November 5th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to repurchase up to 10% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Marathon Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be given a $0.91 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.28%. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s dividend payout ratio (DPR) is currently 26.15%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. TD Cowen cut their target price on Marathon Petroleum from $174.00 to $170.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Bank of America began coverage on Marathon Petroleum in a report on Thursday, October 17th. They issued a “neutral” rating and a $174.00 price objective for the company. Barclays cut their target price on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Piper Sandler decreased their price target on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. Finally, Morgan Stanley dropped their price objective on shares of Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Marathon Petroleum presently has an average rating of “Moderate Buy” and a consensus target price of $185.07.

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.