Capital City Trust Co. FL Raises Stake in Marathon Petroleum Co. (NYSE:MPC)

Capital City Trust Co. FL lifted its position in Marathon Petroleum Co. (NYSE:MPC) by 0.5% in the third quarter, HoldingsChannel.com reports. The firm owned 31,103 shares of the oil and gas company’s stock after purchasing an additional 167 shares during the quarter. Marathon Petroleum comprises about 1.3% of Capital City Trust Co. FL’s investment portfolio, making the stock its 25th biggest holding. Capital City Trust Co. FL’s holdings in Marathon Petroleum were worth $5,067,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MPC. Oppenheimer Asset Management Inc. raised its stake in Marathon Petroleum by 27.7% during the 3rd 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 period. Founders Financial Securities LLC boosted its position in shares of Marathon Petroleum by 22.8% during the second 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. Holistic Planning LLC purchased a new position in Marathon Petroleum during the third quarter valued at $912,000. LRI Investments LLC purchased a new stake in Marathon Petroleum in the 1st quarter worth $97,000. Finally, Magnolia Capital Advisors LLC boosted its holdings in shares of Marathon Petroleum by 353.4% during the 2nd quarter. Magnolia Capital Advisors LLC now owns 55,989 shares of the oil and gas company’s stock valued at $9,713,000 after purchasing an additional 43,639 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of Marathon Petroleum stock opened at $157.52 on Monday. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. The stock’s fifty day moving average is $159.06 and its two-hundred day moving average is $168.26. Marathon Petroleum Co. has a 52 week low of $140.98 and a 52 week high of $221.11. The company has a market capitalization of $50.63 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 2.74 and a beta of 1.38.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.90. The firm had revenue of $35.37 billion for the quarter, compared to analysts’ expectations of $34.34 billion. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The business’s revenue for the quarter was down 14.9% on a year-over-year basis. During the same period in the prior year, the business posted $8.14 earnings per share. As a group, analysts expect that Marathon Petroleum Co. will post 9.59 earnings per share for the current year.

Marathon Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Wednesday, November 20th. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s payout ratio is currently 26.15%.

Marathon Petroleum declared that its board has approved a stock repurchase program on Tuesday, November 5th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to purchase up to 10% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently commented on MPC shares. Wells Fargo & Company decreased their target price on Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Piper Sandler decreased their price objective on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, September 20th. Citigroup cut their target price on shares of Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Barclays decreased their price target on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Finally, Morgan Stanley dropped their price objective on shares of Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus 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.