UMB Bank n.a. Cuts Stock Position in Marathon Petroleum Co. (NYSE:MPC)

UMB Bank n.a. decreased its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 4.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,960 shares of the oil and gas company’s stock after selling 1,059 shares during the period. UMB Bank n.a.’s holdings in Marathon Petroleum were worth $3,345,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Sivia Capital Partners LLC boosted its position in shares of Marathon Petroleum by 7.7% in the 1st quarter. Sivia Capital Partners LLC now owns 1,755 shares of the oil and gas company’s stock worth $256,000 after purchasing an additional 126 shares in the last quarter. Piscataqua Savings Bank raised its stake in Marathon Petroleum by 3.4% in the first quarter. Piscataqua Savings Bank now owns 4,891 shares of the oil and gas company’s stock valued at $713,000 after buying an additional 160 shares during the last quarter. Princeton Global Asset Management LLC boosted its holdings in Marathon Petroleum by 1.6% in the first quarter. Princeton Global Asset Management LLC now owns 24,941 shares of the oil and gas company’s stock worth $3,634,000 after acquiring an additional 390 shares in the last quarter. Gateway Investment Advisers LLC increased its holdings in shares of Marathon Petroleum by 5.2% during the first quarter. Gateway Investment Advisers LLC now owns 36,833 shares of the oil and gas company’s stock valued at $5,366,000 after acquiring an additional 1,830 shares in the last quarter. Finally, Procyon Advisors LLC purchased a new position in shares of Marathon Petroleum in the 1st quarter valued at approximately $860,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on MPC shares. Scotiabank cut their price target on shares of Marathon Petroleum from $169.00 to $147.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. Wall Street Zen raised Marathon Petroleum from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Barclays raised their target price on Marathon Petroleum from $141.00 to $159.00 and gave the stock an “overweight” rating in a research note on Monday, May 12th. Wells Fargo & Company boosted their price target on Marathon Petroleum from $175.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, May 13th. Finally, Piper Sandler reduced their price objective on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and an average price target of $175.29.

Marathon Petroleum Stock Up 1.2%

Shares of MPC stock opened at $160.18 on Monday. Marathon Petroleum Co. has a twelve month low of $115.10 and a twelve month high of $183.31. The stock has a market cap of $49.21 billion, a P/E ratio of 16.13, a P/E/G ratio of 3.11 and a beta of 0.89. The stock has a 50 day moving average of $143.86 and a 200 day moving average of $146.06. 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 (NYSE:MPC) last issued its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.16. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The business had revenue of $31.85 billion for the quarter, compared to analysts’ expectations of $28.91 billion. During the same quarter last year, the company earned $2.58 EPS. The business’s revenue was down 4.1% on a year-over-year basis. As a group, sell-side analysts expect that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be given a $0.91 dividend. The ex-dividend date is Wednesday, May 21st. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.27%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 51.20%.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, insider Ricky D. Hessling bought 2,000 shares of Marathon Petroleum stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average cost of $134.72 per share, with a total value of $269,440.00. Following the purchase, 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 acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.21% of the company’s stock.

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.