Oakworth Capital Inc. Boosts Stake in Marathon Petroleum Co. (NYSE:MPC)

Oakworth Capital Inc. raised its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 9.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,960 shares of the oil and gas company’s stock after buying an additional 578 shares during the quarter. Oakworth Capital Inc.’s holdings in Marathon Petroleum were worth $1,134,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MPC. FinTrust Capital Advisors LLC grew its position in Marathon Petroleum by 400.0% during the first quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock worth $25,000 after buying an additional 100 shares in the last quarter. Crewe Advisors LLC purchased a new position in Marathon Petroleum during the first quarter worth about $29,000. TruNorth Capital Management LLC purchased a new position in shares of Marathon Petroleum in the 2nd quarter worth about $35,000. Industrial Alliance Investment Management Inc. purchased a new position in shares of Marathon Petroleum in the 2nd quarter worth about $35,000. Finally, Wellington Shields & Co. LLC purchased a new position in shares of Marathon Petroleum in the 1st quarter worth about $40,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Scotiabank cut their price objective on Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Wells Fargo & Company cut their price objective on Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. BMO Capital Markets cut their price objective on Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Piper Sandler cut their price objective on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, September 20th. Finally, JPMorgan Chase & Co. cut their price objective on Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $187.00.

Marathon Petroleum Trading Up 0.2 %

MPC opened at $157.22 on Tuesday. The business has a 50 day simple moving average of $167.33 and a two-hundred day simple moving average of $174.96. The firm has a market capitalization of $55.39 billion, a price-to-earnings ratio of 7.84, a PEG ratio of 2.65 and a beta of 1.37. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.31 and a quick ratio of 0.90. Marathon Petroleum Co. has a one year low of $140.98 and a one year high of $221.11.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $1.03. The business had revenue of $38.36 billion during the quarter, compared to analyst estimates of $36.66 billion. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. Marathon Petroleum’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.32 EPS. Analysts predict that Marathon Petroleum Co. will post 10.22 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were given a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend was Wednesday, August 21st. Marathon Petroleum’s payout ratio is 16.48%.

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.