Fiduciary Trust Co Has $456,000 Position in Marathon Petroleum Co. (NYSE:MPC)

Fiduciary Trust Co lowered its stake in Marathon Petroleum Co. (NYSE:MPC) by 58.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,269 shares of the oil and gas company’s stock after selling 4,641 shares during the period. Fiduciary Trust Co’s holdings in Marathon Petroleum were worth $456,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Family Management Corp increased its holdings in shares of Marathon Petroleum by 66.2% in the fourth quarter. Family Management Corp now owns 19,950 shares of the oil and gas company’s stock valued at $2,783,000 after purchasing an additional 7,945 shares in the last quarter. Clark Capital Management Group Inc. grew its holdings in Marathon Petroleum by 14.8% during the 4th quarter. Clark Capital Management Group Inc. now owns 4,627 shares of the oil and gas company’s stock worth $645,000 after acquiring an additional 595 shares during the period. Deutsche Bank AG grew its holdings in Marathon Petroleum by 7.9% during the 4th quarter. Deutsche Bank AG now owns 1,187,518 shares of the oil and gas company’s stock worth $165,659,000 after acquiring an additional 87,410 shares during the period. EP Wealth Advisors LLC grew its holdings in Marathon Petroleum by 11.2% during the 4th quarter. EP Wealth Advisors LLC now owns 21,314 shares of the oil and gas company’s stock worth $2,973,000 after acquiring an additional 2,143 shares during the period. Finally, Colonial Trust Co SC grew its holdings in Marathon Petroleum by 14.0% during the 4th quarter. Colonial Trust Co SC now owns 1,568 shares of the oil and gas company’s stock worth $219,000 after acquiring an additional 192 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

NYSE MPC opened at $150.90 on Monday. 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 company has a market capitalization of $46.36 billion, a P/E ratio of 15.20, a P/E/G ratio of 3.11 and a beta of 0.87. Marathon Petroleum Co. has a 12-month low of $115.10 and a 12-month high of $183.31. The firm has a 50-day moving average price of $137.10 and a two-hundred day moving average price of $145.04.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.16. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The company had revenue of $31.85 billion during the quarter, compared to the consensus estimate of $28.91 billion. During the same quarter in the prior year, the firm posted $2.58 EPS. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. Analysts anticipate that Marathon Petroleum Co. will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date is Wednesday, May 21st. Marathon Petroleum’s payout ratio is 51.20%.

Insider Activity

In related news, insider Ricky D. Hessling acquired 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average cost of $134.72 per share, for a total transaction of $269,440.00. Following the completion of the acquisition, the insider now directly owns 12,162 shares of the company’s stock, valued at approximately $1,638,464.64. This trade represents a 19.68% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 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 bought 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 trade 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 owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have commented on the stock. TD Cowen lifted their target price on shares of Marathon Petroleum from $142.00 to $152.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. Raymond James reduced their price target on shares of Marathon Petroleum from $193.00 to $183.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, April 9th. Piper Sandler reduced their price target on shares of Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Tudor Pickering raised shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Finally, Morgan Stanley reduced their price target on shares of Marathon Petroleum from $175.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Marathon Petroleum currently has an average rating of “Moderate Buy” and a consensus price target of $172.93.

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.