FineMark National Bank & Trust Sells 286 Shares of Marathon Petroleum Co. (NYSE:MPC)

FineMark National Bank & Trust lessened its holdings in Marathon Petroleum Co. (NYSE:MPC) by 3.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,128 shares of the oil and gas company’s stock after selling 286 shares during the period. FineMark National Bank & Trust’s holdings in Marathon Petroleum were worth $1,134,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP raised its position in shares of Marathon Petroleum by 342.1% during the 3rd quarter. Wellington Management Group LLP now owns 5,593,729 shares of the oil and gas company’s stock valued at $911,274,000 after buying an additional 4,328,470 shares in the last quarter. Bank of New York Mellon Corp raised its position in Marathon Petroleum by 7.0% during the fourth quarter. Bank of New York Mellon Corp now owns 4,803,951 shares of the oil and gas company’s stock valued at $670,151,000 after purchasing an additional 315,786 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Marathon Petroleum by 22.3% in the 4th quarter. Pacer Advisors Inc. now owns 3,552,655 shares of the oil and gas company’s stock valued at $495,595,000 after purchasing an additional 647,045 shares during the last quarter. Boston Partners boosted its holdings in shares of Marathon Petroleum by 37.4% in the 4th quarter. Boston Partners now owns 3,436,704 shares of the oil and gas company’s stock worth $480,501,000 after purchasing an additional 935,042 shares during the period. Finally, Amundi increased its position in shares of Marathon Petroleum by 18.0% during the 4th quarter. Amundi now owns 2,807,566 shares of the oil and gas company’s stock valued at $398,388,000 after purchasing an additional 428,708 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MPC shares. Tudor Pickering upgraded shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Barclays raised their price objective on shares of Marathon Petroleum from $159.00 to $161.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. TD Cowen reiterated a “buy” rating and issued a $170.00 price target on shares of Marathon Petroleum in a report on Tuesday, December 10th. Piper Sandler dropped their price objective on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Finally, Wells Fargo & Company increased their target price on Marathon Petroleum from $183.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $180.21.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, Director Evan Bayh purchased 1,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was acquired at an average price of $133.70 per share, with a total value of $133,700.00. Following the completion of the acquisition, the director now owns 69,305 shares in the company, valued at $9,266,078.50. The trade was a 1.46 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ricky D. Hessling acquired 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was bought at an average cost of $134.72 per share, with a total value of $269,440.00. Following the completion of the transaction, the insider now directly owns 12,162 shares in the company, valued at $1,638,464.64. The trade was a 19.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.21% of the stock is currently owned by corporate insiders.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $148.62 on Wednesday. The company’s 50 day moving average is $149.06 and its 200 day moving average is $151.77. 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 firm has a market cap of $46.30 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 3.11 and a beta of 1.39. Marathon Petroleum Co. has a 52-week low of $130.54 and a 52-week high of $221.11.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.71. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The firm had revenue of $33.47 billion during the quarter, compared to analysts’ expectations of $31.94 billion. During the same period in the prior year, the business posted $3.98 EPS. The firm’s quarterly revenue was down 9.1% on a year-over-year basis. On average, sell-side analysts anticipate that Marathon Petroleum Co. will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Wednesday, February 19th were paid a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $3.64 annualized dividend and a dividend yield of 2.45%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 36.66%.

Marathon Petroleum 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.