Marathon Petroleum Corporation $MPC Shares Sold by OLD Point Trust & Financial Services N A

OLD Point Trust & Financial Services N A cut its stake in Marathon Petroleum Corporation (NYSE:MPC) by 11.2% in the second quarter, Holdings Channel reports. The fund owned 5,525 shares of the oil and gas company’s stock after selling 700 shares during the period. OLD Point Trust & Financial Services N A’s holdings in Marathon Petroleum were worth $918,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Activest Wealth Management grew its holdings in shares of Marathon Petroleum by 290.2% during the 2nd quarter. Activest Wealth Management now owns 160 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 119 shares during the period. CBIZ Investment Advisory Services LLC boosted its holdings in Marathon Petroleum by 1,546.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 201 shares during the period. Hughes Financial Services LLC purchased a new position in shares of Marathon Petroleum in the 1st quarter valued at about $32,000. WPG Advisers LLC purchased a new position in shares of Marathon Petroleum in the 1st quarter valued at about $32,000. Finally, Decker Retirement Planning Inc. boosted its stake in shares of Marathon Petroleum by 1,621.4% in the 1st quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company’s stock valued at $35,000 after buying an additional 227 shares during the period. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Molly R. Benson sold 10,879 shares of the company’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the transaction, the insider owned 28,700 shares of the company’s stock, valued at $4,678,100. This represents a 27.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.21% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Evercore ISI boosted their target price on Marathon Petroleum from $170.00 to $210.00 and gave the stock an “in-line” rating in a research note on Friday, September 19th. TD Cowen decreased their target price on Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. UBS Group boosted their target price on Marathon Petroleum from $203.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. Bank of America boosted their target price on Marathon Petroleum from $184.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 3rd. Finally, Citigroup lifted their price target on Marathon Petroleum from $144.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.31.

Marathon Petroleum Trading Up 3.1%

MPC opened at $188.52 on Thursday. The firm has a market cap of $57.31 billion, a price-to-earnings ratio of 27.97, a price-to-earnings-growth ratio of 2.85 and a beta of 0.90. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. The business’s 50 day moving average is $182.18 and its two-hundred day moving average is $165.87. Marathon Petroleum Corporation has a 52 week low of $115.10 and a 52 week high of $201.61.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $0.74. The business had revenue of $34.10 billion for the quarter, compared to analyst estimates of $31.70 billion. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The company’s revenue for the quarter was down 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.12 earnings per share. On average, research analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th were issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Wednesday, August 20th. Marathon Petroleum’s dividend payout ratio is currently 54.01%.

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.