Marathon Petroleum Corporation $MPC Stock Position Reduced by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB cut its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 2.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,143 shares of the oil and gas company’s stock after selling 500 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Marathon Petroleum were worth $3,014,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in MPC. CBIZ Investment Advisory Services LLC lifted its stake in Marathon Petroleum by 1,546.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 201 shares during the last quarter. Hughes Financial Services LLC acquired a new stake in Marathon Petroleum in the first quarter valued at approximately $32,000. WPG Advisers LLC acquired a new stake in Marathon Petroleum in the first quarter valued at approximately $32,000. Decker Retirement Planning Inc. lifted its stake in Marathon Petroleum by 1,621.4% in the first quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 227 shares during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Marathon Petroleum in the first quarter worth $35,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of Marathon Petroleum from $176.00 to $194.00 and gave the stock an “overweight” rating in a research note on Monday. Morgan Stanley boosted their price objective on shares of Marathon Petroleum from $182.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, October 3rd. Bank of America boosted their price objective on shares of Marathon Petroleum from $184.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 3rd. Piper Sandler boosted their price objective on shares of Marathon Petroleum from $184.00 to $222.00 and gave the stock a “neutral” rating in a research note on Thursday, September 11th. Finally, Wolfe Research cut shares of Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 14th. Eight investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $199.31.

Marathon Petroleum Price Performance

NYSE:MPC opened at $183.23 on Wednesday. The stock has a market cap of $55.71 billion, a P/E ratio of 27.19, a PEG ratio of 3.11 and a beta of 0.90. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $201.61. The company has a fifty day moving average price of $179.32 and a 200 day moving average price of $164.12. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, beating the consensus estimate of $3.22 by $0.74. The firm had revenue of $34.10 billion during the quarter, compared to analysts’ expectations of $31.70 billion. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The business’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same period in the prior year, the company earned $4.12 EPS. Analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th were paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 2.0%. The ex-dividend date was Wednesday, August 20th. Marathon Petroleum’s dividend payout ratio is presently 54.01%.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the business’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $163.00, for a total value of $1,773,277.00. Following the sale, the insider owned 28,700 shares of the company’s stock, valued at $4,678,100. The trade was a 27.49% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.25% of the stock is owned by company 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.