Marathon Petroleum Corporation $MPC Stake Decreased by Bank of Montreal Can

Bank of Montreal Can lessened its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 6.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 452,289 shares of the oil and gas company’s stock after selling 31,866 shares during the quarter. Bank of Montreal Can’s holdings in Marathon Petroleum were worth $75,130,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Baker Tilly Wealth Management LLC raised its holdings in shares of Marathon Petroleum by 2.8% during the second quarter. Baker Tilly Wealth Management LLC now owns 2,226 shares of the oil and gas company’s stock valued at $370,000 after buying an additional 60 shares during the last quarter. CHICAGO TRUST Co NA raised its holdings in shares of Marathon Petroleum by 3.9% during the second quarter. CHICAGO TRUST Co NA now owns 1,684 shares of the oil and gas company’s stock valued at $280,000 after buying an additional 63 shares during the last quarter. Werba Rubin Papier Wealth Management raised its holdings in shares of Marathon Petroleum by 4.2% during the second quarter. Werba Rubin Papier Wealth Management now owns 1,577 shares of the oil and gas company’s stock valued at $262,000 after buying an additional 64 shares during the last quarter. AdvisorShares Investments LLC raised its holdings in shares of Marathon Petroleum by 2.4% during the second quarter. AdvisorShares Investments LLC now owns 2,828 shares of the oil and gas company’s stock valued at $470,000 after buying an additional 66 shares during the last quarter. Finally, Sunpointe LLC raised its holdings in shares of Marathon Petroleum by 4.1% during the second quarter. Sunpointe LLC now owns 1,750 shares of the oil and gas company’s stock valued at $291,000 after buying an additional 69 shares during the last quarter. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Trading Down 6.0%

Marathon Petroleum stock opened at $183.99 on Wednesday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23. The firm has a market cap of $55.94 billion, a price-to-earnings ratio of 27.30, a price-to-earnings-growth ratio of 4.10 and a beta of 0.90. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $201.61. The firm’s 50 day moving average price is $187.14 and its two-hundred day moving average price is $171.16.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.00 by $0.01. The firm had revenue of $35.85 billion for the quarter, compared to analyst estimates of $31.06 billion. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. On average, research analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 19th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.2%. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.91. The ex-dividend date is Wednesday, November 19th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 54.01%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MPC. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Marathon Petroleum in a report on Wednesday, October 8th. Piper Sandler raised their price objective on shares of Marathon Petroleum from $184.00 to $222.00 and gave the company a “neutral” rating in a research note on Thursday, September 11th. BMO Capital Markets raised their price objective on shares of Marathon Petroleum from $195.00 to $208.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Wolfe Research lowered shares of Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 14th. Finally, Wells Fargo & Company initiated coverage on shares of Marathon Petroleum in a research note on Friday, October 17th. They set an “overweight” rating and a $214.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $200.08.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock in a transaction that occurred 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 transaction, the insider owned 28,700 shares in the company, valued at approximately $4,678,100. The trade was a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.25% of the company’s stock.

Marathon Petroleum Company 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.