Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Raymond James Trust N.A.

Raymond James Trust N.A. decreased its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 1.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 101,647 shares of the oil and gas company’s stock after selling 1,434 shares during the period. Raymond James Trust N.A.’s holdings in Marathon Petroleum were worth $16,559,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Raymond James & Associates grew its stake in shares of Marathon Petroleum by 2.6% in the 2nd quarter. Raymond James & Associates now owns 4,286,892 shares of the oil and gas company’s stock valued at $743,690,000 after purchasing an additional 107,915 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Marathon Petroleum by 1.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,080,958 shares of the oil and gas company’s stock worth $620,815,000 after purchasing an additional 31,100 shares during the period. Pacer Advisors Inc. grew its position in Marathon Petroleum by 8.8% in the 3rd quarter. Pacer Advisors Inc. now owns 2,905,610 shares of the oil and gas company’s stock valued at $473,353,000 after buying an additional 235,795 shares during the last quarter. Boston Partners increased its stake in Marathon Petroleum by 0.3% in the 1st quarter. Boston Partners now owns 2,773,050 shares of the oil and gas company’s stock valued at $558,390,000 after buying an additional 8,476 shares during the period. Finally, International Assets Investment Management LLC raised its position in Marathon Petroleum by 19,153.8% during the 3rd quarter. International Assets Investment Management LLC now owns 1,311,182 shares of the oil and gas company’s stock worth $213,605,000 after buying an additional 1,304,372 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

NYSE MPC opened at $159.49 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. Marathon Petroleum Co. has a 1-year low of $140.98 and a 1-year high of $221.11. The firm has a market capitalization of $51.26 billion, a P/E ratio of 12.64, a P/E/G ratio of 2.76 and a beta of 1.38. The business’s 50-day simple moving average is $158.88 and its 200-day simple moving average is $167.81.

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

Marathon Petroleum announced that its board has initiated a stock buyback 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 buy up to 10% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Marathon Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be given a $0.91 dividend. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, November 20th. This represents a $3.64 annualized dividend and a yield of 2.28%. Marathon Petroleum’s dividend payout ratio (DPR) is 26.15%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Citigroup cut their price target 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. Tudor Pickering cut Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a report on Monday, September 9th. Piper Sandler dropped their target price on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, September 20th. Barclays cut their price target on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Finally, Bank of America began coverage on Marathon Petroleum in a research report on Thursday, October 17th. They set a “neutral” rating and a $174.00 price objective for the company. Two analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Marathon Petroleum presently has an average rating of “Moderate Buy” and an average target price of $185.07.

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.