Equitable Trust Co. Sells 2,022 Shares of Marathon Petroleum Co. (NYSE:MPC)

Equitable Trust Co. cut its stake in Marathon Petroleum Co. (NYSE:MPC) by 39.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,123 shares of the oil and gas company’s stock after selling 2,022 shares during the period. Equitable Trust Co.’s holdings in Marathon Petroleum were worth $436,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Exchange Traded Concepts LLC lifted its stake in shares of Marathon Petroleum by 191.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 6,489 shares of the oil and gas company’s stock valued at $1,057,000 after purchasing an additional 4,265 shares during the period. ORG Wealth Partners LLC acquired a new position in Marathon Petroleum in the third quarter valued at approximately $76,000. Empirical Asset Management LLC boosted its holdings in shares of Marathon Petroleum by 4.1% during the 3rd quarter. Empirical Asset Management LLC now owns 4,522 shares of the oil and gas company’s stock worth $737,000 after buying an additional 180 shares in the last quarter. Grove Bank & Trust grew its position in shares of Marathon Petroleum by 33.9% during the 3rd quarter. Grove Bank & Trust now owns 2,538 shares of the oil and gas company’s stock worth $413,000 after buying an additional 643 shares during the period. Finally, CX Institutional increased its stake in shares of Marathon Petroleum by 25.3% in the 3rd quarter. CX Institutional now owns 33,182 shares of the oil and gas company’s stock valued at $5,406,000 after acquiring an additional 6,705 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on MPC shares. TD Cowen reissued a “buy” rating and set a $170.00 target price on shares of Marathon Petroleum in a research note on Tuesday, December 10th. Bank of America assumed coverage on shares of Marathon Petroleum in a report on Thursday, October 17th. They issued a “neutral” rating and a $174.00 target price on the stock. Raymond James raised 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. Barclays dropped their target price on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Finally, Tudor Pickering raised Marathon Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $181.27.

Insider Buying and Selling at Marathon Petroleum

In related news, Director Jeffrey C. Campbell bought 6,000 shares of Marathon Petroleum stock in a transaction on Wednesday, December 4th. The stock was acquired at an average price of $149.61 per share, with a total value of $897,660.00. Following the acquisition, the director now directly owns 6,090 shares of the company’s stock, valued at $911,124.90. This represents a 6,666.67 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.21% of the company’s stock.

Marathon Petroleum Stock Up 1.0 %

MPC stock opened at $155.31 on Wednesday. The stock has a fifty day moving average of $145.84 and a 200-day moving average of $157.39. Marathon Petroleum Co. has a fifty-two week low of $130.54 and a fifty-two week high of $221.11. The company has a market capitalization of $49.91 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 2.91 and a beta of 1.41. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.71. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The firm had revenue of $33.47 billion during the quarter, compared to analyst estimates of $31.94 billion. During the same quarter last year, the business earned $3.98 earnings per share. The company’s quarterly revenue was down 9.1% on a year-over-year basis. As a group, equities research analysts predict that Marathon Petroleum Co. will post 8.7 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 19th will be paid a $0.91 dividend. The ex-dividend date is Wednesday, February 19th. This represents a $3.64 dividend on an annualized basis and a yield of 2.34%. Marathon Petroleum’s dividend payout ratio is 36.66%.

Marathon Petroleum declared that its board has approved a share repurchase plan on Tuesday, November 5th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the oil and gas company to purchase up to 10% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.