Whittier Trust Co. of Nevada Inc. Sells 335 Shares of Marathon Petroleum Co. (NYSE:MPC)

Whittier Trust Co. of Nevada Inc. trimmed its stake in Marathon Petroleum Co. (NYSE:MPC) by 2.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,284 shares of the oil and gas company’s stock after selling 335 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Marathon Petroleum were worth $2,825,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of MPC. FinTrust Capital Advisors LLC raised its holdings in shares of Marathon Petroleum by 400.0% in 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 during the period. Crewe Advisors LLC purchased a new stake in shares of Marathon Petroleum in the first quarter worth approximately $29,000. ICA Group Wealth Management LLC purchased a new stake in shares of Marathon Petroleum in the fourth quarter worth approximately $30,000. Vima LLC purchased a new stake in shares of Marathon Petroleum in the fourth quarter worth approximately $30,000. Finally, Bare Financial Services Inc purchased a new stake in shares of Marathon Petroleum in the fourth quarter worth approximately $32,000. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Stock Up 0.3 %

Shares of NYSE:MPC traded up $0.52 on Thursday, reaching $170.45. The company had a trading volume of 1,015,489 shares, compared to its average volume of 2,607,094. Marathon Petroleum Co. has a 52-week low of $139.32 and a 52-week high of $221.11. The firm’s 50 day simple moving average is $171.48 and its 200-day simple moving average is $180.25. The firm has a market capitalization of $60.05 billion, a PE ratio of 8.50, a PEG ratio of 2.09 and a beta of 1.40. The company has a current ratio of 1.43, a quick ratio of 0.99 and a debt-to-equity ratio of 0.85.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $1.03. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The business had revenue of $38.36 billion for the quarter, compared to the consensus estimate of $36.66 billion. During the same period last year, the business posted $5.32 EPS. The business’s revenue was up 4.2% compared to the same quarter last year. As a group, analysts expect that Marathon Petroleum Co. will post 13.84 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be issued a $0.825 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.94%. Marathon Petroleum’s dividend payout ratio is presently 16.48%.

Analyst Upgrades and Downgrades

MPC has been the topic of several recent analyst reports. TD Cowen increased their price target on Marathon Petroleum from $187.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Wells Fargo & Company reduced their price target on Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Tudor Pickering upgraded Marathon Petroleum to a “strong-buy” rating in a report on Thursday, May 30th. JPMorgan Chase & Co. reduced their price objective on Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. Finally, Jefferies Financial Group raised their price objective on Marathon Petroleum from $222.00 to $231.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $198.38.

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.