First Citizens Bank & Trust Co. Reduces Position in Marathon Petroleum Co. (NYSE:MPC)

First Citizens Bank & Trust Co. trimmed its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 9.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 31,974 shares of the oil and gas company’s stock after selling 3,360 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Marathon Petroleum were worth $4,460,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Gladius Capital Management LP purchased a new stake in shares of Marathon Petroleum during the third quarter worth about $26,000. MeadowBrook Investment Advisors LLC grew its stake in Marathon Petroleum by 88.9% in the third quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 80 shares in the last quarter. True Wealth Design LLC grew its stake in Marathon Petroleum by 672.7% in the third quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 148 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in Marathon Petroleum in the third quarter worth about $30,000. Finally, Darwin Wealth Management LLC acquired a new position in Marathon Petroleum in the third quarter worth about $33,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Jeffrey C. Campbell purchased 6,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was bought at an average cost of $149.61 per share, with a total value of $897,660.00. Following the purchase, the director now directly owns 6,090 shares of the company’s stock, valued at approximately $911,124.90. This trade represents a 6,666.67 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.21% of the company’s stock.

Marathon Petroleum Trading Down 1.9 %

Shares of MPC stock opened at $151.43 on Friday. The stock has a 50-day simple moving average of $147.18 and a 200 day simple moving average of $158.58. Marathon Petroleum Co. has a fifty-two week low of $130.54 and a fifty-two week high of $221.11. The stock has a market capitalization of $48.67 billion, a P/E ratio of 12.00, a P/E/G ratio of 2.88 and a beta of 1.42. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share 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 business had revenue of $35.37 billion during the quarter, compared to analyst estimates of $34.34 billion. During the same quarter last year, the company posted $8.14 EPS. Marathon Petroleum’s revenue for the quarter was down 14.9% on a year-over-year basis. On average, sell-side analysts expect that Marathon Petroleum Co. will post 8.88 earnings per share for the current fiscal year.

Marathon Petroleum announced that its board has authorized a share buyback program on Tuesday, November 5th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the oil and gas company to repurchase up to 10% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Marathon Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th were given a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, November 20th. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. This represents a $3.64 dividend on an annualized basis and a yield of 2.40%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 28.84%.

Wall Street Analyst Weigh In

MPC has been the subject of a number of research reports. Citigroup decreased their price target on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Scotiabank lowered their target price on Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Bank of America assumed coverage on Marathon Petroleum in a research report on Thursday, October 17th. They issued a “neutral” rating and a $174.00 target price on the stock. TD Cowen reaffirmed a “buy” rating and issued a $170.00 target price on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Finally, Raymond James increased their target price on Marathon Petroleum from $190.00 to $192.00 and gave the stock a “strong-buy” rating in a research report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $181.20.

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.