M&T Bank Corp Grows Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

M&T Bank Corp grew its position in Marathon Petroleum Co. (NYSE:MPC) by 4.4% during the 4th quarter, HoldingsChannel reports. The fund owned 34,809 shares of the oil and gas company’s stock after purchasing an additional 1,460 shares during the period. M&T Bank Corp’s holdings in Marathon Petroleum were worth $4,855,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Gladius Capital Management LP purchased a new stake in shares of Marathon Petroleum in the third quarter valued at $26,000. MeadowBrook Investment Advisors LLC raised its stake in shares of Marathon Petroleum by 88.9% in the third quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 80 shares during the period. True Wealth Design LLC raised its stake in shares of Marathon Petroleum by 672.7% in the third quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 148 shares during the period. Harbor Capital Advisors Inc. bought a new position in shares of Marathon Petroleum in the third quarter worth about $30,000. Finally, Kohmann Bosshard Financial Services LLC bought a new position in shares of Marathon Petroleum in the fourth quarter worth about $27,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Mizuho cut their price target on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Raymond James upped their price target on shares of Marathon Petroleum from $190.00 to $192.00 and gave the stock a “strong-buy” rating in a report on Friday, January 17th. Tudor Pickering upgraded shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 4th. Barclays cut their price target on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Finally, Piper Sandler dropped their target price on shares of Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating on the stock in a report on Friday. One investment analyst has rated the stock with a sell rating, seven 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.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $182.00.

Marathon Petroleum Stock Up 0.1 %

NYSE:MPC opened at $137.65 on Friday. Marathon Petroleum Co. has a fifty-two week low of $130.54 and a fifty-two week high of $221.11. The stock has a market capitalization of $43.03 billion, a P/E ratio of 13.86, a P/E/G ratio of 3.11 and a beta of 1.39. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. The company’s 50-day simple moving average is $148.61 and its 200-day simple moving average is $154.40.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, beating 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 business had revenue of $33.47 billion for the quarter, compared to analysts’ expectations of $31.94 billion. During the same period last year, the business earned $3.98 EPS. The company’s revenue was down 9.1% compared to the same quarter last year. On average, equities analysts anticipate that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 19th will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend is Wednesday, February 19th. Marathon Petroleum’s payout ratio is currently 36.66%.

Insider Activity at Marathon Petroleum

In related news, 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 cost of $133.70 per share, with a total value of $133,700.00. Following the transaction, the director now directly owns 69,305 shares of the company’s stock, valued at $9,266,078.50. This trade represents a 1.46 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.21% of the stock is currently owned by insiders.

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.