Zions Bancorporation N.A. Decreases Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Zions Bancorporation N.A. decreased its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 13.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,571 shares of the oil and gas company’s stock after selling 251 shares during the period. Zions Bancorporation N.A.’s holdings in Marathon Petroleum were worth $219,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. TIAA Trust National Association grew its position in Marathon Petroleum by 1.0% during the 4th quarter. TIAA Trust National Association now owns 11,588 shares of the oil and gas company’s stock worth $1,617,000 after purchasing an additional 118 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Marathon Petroleum during the fourth quarter valued at $238,000. CoreFirst Bank & Trust acquired a new position in shares of Marathon Petroleum in the 4th quarter valued at $519,000. Congress Wealth Management LLC DE purchased a new position in Marathon Petroleum in the 4th quarter worth $360,000. Finally, Stevens Capital Management LP acquired a new stake in Marathon Petroleum during the 4th quarter worth about $473,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Insider Buying and Selling

In other news, Director Evan Bayh acquired 1,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were bought at an average price of $133.70 per share, for a total transaction of $133,700.00. Following the acquisition, the director now owns 69,305 shares of the company’s stock, valued at approximately $9,266,078.50. This trade represents a 1.46 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Ricky D. Hessling bought 2,000 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average cost of $134.72 per share, with a total value of $269,440.00. Following the acquisition, the insider now directly owns 12,162 shares of the company’s stock, valued at approximately $1,638,464.64. This represents a 19.68 % 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 insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on MPC. Mizuho reduced their price objective on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Piper Sandler reduced their price target on shares of Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Raymond James lifted their price objective on shares of Marathon Petroleum from $190.00 to $192.00 and gave the company a “strong-buy” rating in a research note on Friday, January 17th. Tudor Pickering upgraded shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 4th. Finally, Wells Fargo & Company boosted their target price on shares of Marathon Petroleum from $183.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $180.21.

Marathon Petroleum Price Performance

Shares of Marathon Petroleum stock opened at $149.63 on Thursday. The firm has a market cap of $46.62 billion, a PE ratio of 15.07, a P/E/G ratio of 3.11 and a beta of 1.39. The business has a 50-day moving average price of $149.01 and a 200 day moving average price of $151.76. 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 Co. has a twelve month low of $130.54 and a twelve month high of $221.11.

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

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th were given a $0.91 dividend. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $3.64 annualized dividend and a dividend yield of 2.43%. Marathon Petroleum’s dividend payout ratio (DPR) is 36.66%.

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.