OLD Point Trust & Financial Services N A Lowers Holdings in Marathon Petroleum Co. (NYSE:MPC)

OLD Point Trust & Financial Services N A lowered its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 3.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 6,225 shares of the oil and gas company’s stock after selling 200 shares during the period. OLD Point Trust & Financial Services N A’s holdings in Marathon Petroleum were worth $868,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in shares of Marathon Petroleum by 342.1% during the third quarter. Wellington Management Group LLP now owns 5,593,729 shares of the oil and gas company’s stock worth $911,274,000 after acquiring an additional 4,328,470 shares during the last quarter. Boston Partners lifted its stake in Marathon Petroleum by 37.4% in the 4th quarter. Boston Partners now owns 3,436,704 shares of the oil and gas company’s stock worth $480,501,000 after purchasing an additional 935,042 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Marathon Petroleum by 22.3% during the 4th quarter. Pacer Advisors Inc. now owns 3,552,655 shares of the oil and gas company’s stock valued at $495,595,000 after purchasing an additional 647,045 shares during the last quarter. National Bank of Canada FI grew its position in shares of Marathon Petroleum by 212.9% during the third quarter. National Bank of Canada FI now owns 846,756 shares of the oil and gas company’s stock valued at $137,945,000 after purchasing an additional 576,119 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Marathon Petroleum by 1,204.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 543,062 shares of the oil and gas company’s stock worth $75,757,000 after purchasing an additional 501,441 shares during the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on MPC shares. Barclays raised their price target on Marathon Petroleum from $159.00 to $161.00 and gave the company an “overweight” rating in a report on Friday, March 14th. TD Cowen restated a “buy” rating and issued a $170.00 price target on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Tudor Pickering upgraded shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Wells Fargo & Company boosted their target price on shares of Marathon Petroleum from $182.00 to $183.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Finally, Piper Sandler lowered their price target on shares of Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a report on Friday, March 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $182.13.

Marathon Petroleum Stock Performance

Shares of Marathon Petroleum stock opened at $149.37 on Thursday. Marathon Petroleum Co. has a 52 week low of $130.54 and a 52 week high of $221.11. The company has a market capitalization of $46.53 billion, a PE ratio of 15.04, a price-to-earnings-growth ratio of 3.11 and a beta of 1.39. The stock’s fifty day moving average is $148.70 and its two-hundred day moving average is $152.52. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.06 by $0.71. The company had revenue of $33.47 billion for the quarter, compared to the consensus estimate of $31.94 billion. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The firm’s revenue was down 9.1% compared to the same quarter last year. During the same quarter last year, the firm posted $3.98 EPS. As a group, analysts expect that Marathon Petroleum Co. will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Wednesday, February 19th were issued a $0.91 dividend. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.44%. Marathon Petroleum’s payout ratio is 36.66%.

Insiders Place Their Bets

In other news, insider Ricky D. Hessling purchased 2,000 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average price of $134.72 per share, with a total value of $269,440.00. Following the transaction, the insider now owns 12,162 shares of the company’s stock, valued at $1,638,464.64. This represents a 19.68 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Evan Bayh acquired 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average price of $133.70 per share, with a total value of $133,700.00. Following the completion of the acquisition, the director now directly owns 69,305 shares of the company’s stock, valued at $9,266,078.50. This represents a 1.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.21% of the stock is currently owned by company insiders.

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.