Central Bank & Trust Co. Trims Stake in Marathon Petroleum Co. (NYSE:MPC)

Central Bank & Trust Co. cut its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 6.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,564 shares of the oil and gas company’s stock after selling 182 shares during the quarter. Central Bank & Trust Co.’s holdings in Marathon Petroleum were worth $445,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. NBC Securities Inc. increased its stake in Marathon Petroleum by 0.9% in the 1st quarter. NBC Securities Inc. now owns 6,333 shares of the oil and gas company’s stock valued at $1,276,000 after buying an additional 55 shares during the period. Guidance Capital Inc. boosted its holdings in shares of Marathon Petroleum by 1.1% in 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 in the last quarter. Bruce G. Allen Investments LLC increased its stake in shares of 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 worth $55,000 after acquiring an additional 59 shares during the period. First Financial Corp IN raised its holdings 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 worth $489,000 after purchasing an additional 59 shares in the last quarter. Finally, D Orazio & Associates Inc. boosted its holdings in Marathon Petroleum by 3.2% in the 1st quarter. D Orazio & Associates Inc. now owns 1,894 shares of the oil and gas company’s stock valued at $382,000 after purchasing an additional 59 shares in the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Trading Down 0.9 %

MPC traded down $1.63 during midday trading on Monday, hitting $178.40. The company’s stock had a trading volume of 583,501 shares, compared to its average volume of 2,630,245. The firm has a market cap of $62.86 billion, a P/E ratio of 8.93, a PEG ratio of 2.09 and a beta of 1.40. Marathon Petroleum Co. has a 52-week low of $139.32 and a 52-week high of $221.11. The company has a current ratio of 1.43, a quick ratio of 0.99 and a debt-to-equity ratio of 0.85. The firm has a 50-day moving average price of $171.27 and a two-hundred day moving average price of $180.02.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, topping the consensus estimate of $3.09 by $1.03. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The firm had revenue of $38.36 billion during the quarter, compared to analyst estimates of $36.66 billion. During the same quarter in the prior year, the business posted $5.32 earnings per share. Marathon Petroleum’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, research analysts anticipate that Marathon Petroleum Co. will post 13.84 earnings per share for the current year.

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

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be given a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date is Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio (DPR) is presently 16.48%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on MPC shares. JPMorgan Chase & Co. cut their target price on Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. TD Cowen raised their target price on Marathon Petroleum from $187.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Tudor Pickering upgraded shares of Marathon Petroleum to a “strong-buy” rating in a research note on Thursday, May 30th. Raymond James lowered their target price on shares of Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating on the stock in a research report on Thursday, May 30th. Finally, Wells Fargo & Company decreased their price target on Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $198.38.

About Marathon Petroleum

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.