Smithfield Trust Co Acquires 350 Shares of Marathon Petroleum Co. (NYSE:MPC)

Smithfield Trust Co raised its holdings in Marathon Petroleum Co. (NYSE:MPC) by 17.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,329 shares of the oil and gas company’s stock after buying an additional 350 shares during the quarter. Smithfield Trust Co’s holdings in Marathon Petroleum were worth $379,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in MPC. Natixis increased its position in Marathon Petroleum by 1,191.3% during the first quarter. Natixis now owns 2,983 shares of the oil and gas company’s stock worth $601,000 after acquiring an additional 2,752 shares during the period. Crewe Advisors LLC bought a new stake in shares of Marathon Petroleum in the first quarter valued at about $29,000. Shell Asset Management Co. grew its position in Marathon Petroleum by 65.9% during the first quarter. Shell Asset Management Co. now owns 5,067 shares of the oil and gas company’s stock worth $1,021,000 after buying an additional 2,012 shares in the last quarter. Advisors Asset Management Inc. increased its stake in Marathon Petroleum by 6.3% during the first quarter. Advisors Asset Management Inc. now owns 15,158 shares of the oil and gas company’s stock valued at $3,054,000 after acquiring an additional 895 shares during the period. Finally, Stonebridge Capital Advisors LLC bought a new stake in Marathon Petroleum in the 1st quarter valued at $226,000. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Stock Up 0.1 %

Shares of Marathon Petroleum stock opened at $159.49 on Friday. Marathon Petroleum Co. has a 12 month low of $140.98 and a 12 month high of $221.11. The business has a fifty day simple moving average of $158.88 and a 200 day simple moving average of $167.81. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. The stock has a market cap of $51.26 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 2.76 and a beta of 1.38.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.90. The business had revenue of $35.37 billion for the quarter, compared to analyst estimates of $34.34 billion. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The firm’s quarterly revenue was down 14.9% on a year-over-year basis. During the same period last year, the business posted $8.14 earnings per share. Research analysts predict that Marathon Petroleum Co. will post 9.59 EPS for the current year.

Marathon Petroleum declared that its board has authorized a share repurchase plan on Tuesday, November 5th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the oil and gas company to reacquire up to 10% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Marathon Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be paid a $0.91 dividend. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, November 20th. This represents a $3.64 annualized dividend and a yield of 2.28%. Marathon Petroleum’s payout ratio is presently 26.15%.

Wall Street Analysts Forecast Growth

MPC has been the subject of several recent research reports. TD Cowen dropped their price target on shares of Marathon Petroleum from $174.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Tudor Pickering cut Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, September 9th. Scotiabank dropped their price objective on Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Bank of America began coverage on shares of Marathon Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $174.00 target price on the stock. Finally, Piper Sandler dropped their target price on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. Two analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $185.07.

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.