OLD Point Trust & Financial Services N A Sells 200 Shares of Marathon Petroleum Co. (NYSE:MPC)

OLD Point Trust & Financial Services N A cut its stake in Marathon Petroleum Co. (NYSE:MPC) by 3.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,225 shares of the oil and gas company’s stock after selling 200 shares during the quarter. OLD Point Trust & Financial Services N A’s holdings in Marathon Petroleum were worth $868,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of MPC. Wellington Management Group LLP lifted its holdings in Marathon Petroleum by 342.1% in the third quarter. Wellington Management Group LLP now owns 5,593,729 shares of the oil and gas company’s stock worth $911,274,000 after buying an additional 4,328,470 shares during the period. Bank of New York Mellon Corp raised its position in shares of Marathon Petroleum by 7.0% in the 4th quarter. Bank of New York Mellon Corp now owns 4,803,951 shares of the oil and gas company’s stock worth $670,151,000 after acquiring an additional 315,786 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Marathon Petroleum by 22.3% during the fourth 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 in the last quarter. Boston Partners grew its stake in Marathon Petroleum by 37.4% in the fourth 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 raised its holdings in Marathon Petroleum by 18.0% in the fourth quarter. Amundi now owns 2,807,566 shares of the oil and gas company’s stock worth $398,388,000 after purchasing an additional 428,708 shares in the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $149.37 on Thursday. The firm has a market capitalization of $46.53 billion, a PE ratio of 15.04, a P/E/G ratio of 3.11 and a beta of 1.39. The company has a 50 day moving average price of $148.70 and a 200-day moving average price of $152.52. Marathon Petroleum Co. has a 52 week low of $130.54 and a 52 week high of $221.11. 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 announced its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.71. The business had revenue of $33.47 billion during the quarter, compared to analyst estimates of $31.94 billion. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The company’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.98 EPS. As a group, equities research analysts expect that Marathon Petroleum Co. will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Wednesday, February 19th were given a $0.91 dividend. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $3.64 annualized dividend and a yield of 2.44%. Marathon Petroleum’s payout ratio is 36.66%.

Insider Transactions at Marathon Petroleum

In related news, insider Ricky D. Hessling purchased 2,000 shares of Marathon Petroleum stock in a transaction on Tuesday, March 11th. The stock was acquired at an average price of $134.72 per share, for a total transaction 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. This represents a 19.68 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Evan Bayh acquired 1,000 shares of the stock in a transaction dated Wednesday, March 5th. The shares were bought at an average cost of $133.70 per share, for a total transaction of $133,700.00. Following the completion of the transaction, the director now owns 69,305 shares in the company, valued at approximately $9,266,078.50. This represents a 1.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Tudor Pickering upgraded shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 4th. Piper Sandler cut their price objective on shares of Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Barclays lifted their target price on shares of Marathon Petroleum from $159.00 to $161.00 and gave the company an “overweight” rating in a report on Friday, March 14th. Mizuho cut their price target on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Finally, Raymond James lifted their price objective on Marathon Petroleum from $190.00 to $192.00 and gave the company a “strong-buy” rating in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Marathon Petroleum presently has an average rating of “Moderate Buy” and an average target price of $182.13.

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.