Fulton Bank N.A. Lowers Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

Fulton Bank N.A. lowered its holdings in Marathon Petroleum Co. (NYSE:MPC) by 9.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,302 shares of the oil and gas company’s stock after selling 965 shares during the period. Fulton Bank N.A.’s holdings in Marathon Petroleum were worth $1,614,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. NBC Securities Inc. grew its position in shares of Marathon Petroleum by 0.9% in the first quarter. NBC Securities Inc. now owns 6,333 shares of the oil and gas company’s stock valued at $1,276,000 after purchasing an additional 55 shares during the period. Guidance Capital Inc. grew its position in Marathon Petroleum by 1.1% during the first quarter. Guidance Capital Inc. now owns 5,483 shares of the oil and gas company’s stock valued at $1,135,000 after acquiring an additional 57 shares during the period. Bruce G. Allen Investments LLC grew its position in Marathon Petroleum by 27.3% during the first quarter. Bruce G. Allen Investments LLC now owns 275 shares of the oil and gas company’s stock valued at $55,000 after acquiring an additional 59 shares during the period. First Financial Corp IN grew its position in Marathon Petroleum by 2.5% during the first quarter. First Financial Corp IN now owns 2,429 shares of the oil and gas company’s stock valued at $489,000 after acquiring an additional 59 shares during the period. Finally, D Orazio & Associates Inc. grew its position in Marathon Petroleum by 3.2% during the first quarter. D Orazio & Associates Inc. now owns 1,894 shares of the oil and gas company’s stock valued at $382,000 after acquiring an additional 59 shares during the period. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on MPC. Jefferies Financial Group boosted their price target on Marathon Petroleum from $222.00 to $231.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Raymond James lowered their price target on Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating for the company in a research report on Thursday, May 30th. Wells Fargo & Company lowered their price target on Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Mizuho decreased their target price on Marathon Petroleum from $203.00 to $201.00 and set a “neutral” rating for the company in a research report on Thursday, June 20th. Finally, Wolfe Research initiated coverage on Marathon Petroleum in a research report on Thursday, July 18th. They issued an “outperform” rating and a $200.00 target price for the company. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $196.85.

Marathon Petroleum Stock Performance

MPC stock traded up $8.71 on Tuesday, reaching $170.76. The company’s stock had a trading volume of 2,467,823 shares, compared to its average volume of 2,655,353. Marathon Petroleum Co. has a 52 week low of $137.57 and a 52 week high of $221.11. The company has a market capitalization of $60.16 billion, a P/E ratio of 8.53, a price-to-earnings-growth ratio of 2.09 and a beta of 1.40. The firm has a fifty day moving average of $171.13 and a two-hundred day moving average of $178.95. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.43 and a quick ratio of 0.99.

Marathon Petroleum declared that its Board of Directors has initiated a share repurchase program on Tuesday, April 30th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the oil and gas company to repurchase up to 7.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be issued a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio (DPR) is 16.48%.

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.