Cullen Frost Bankers Inc. Cuts Holdings in Marathon Petroleum Corporation $MPC

Cullen Frost Bankers Inc. cut its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 6.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,961 shares of the oil and gas company’s stock after selling 914 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Marathon Petroleum were worth $2,153,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Baker Tilly Wealth Management LLC boosted its holdings in 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 worth $370,000 after purchasing an additional 60 shares during the last quarter. CHICAGO TRUST Co NA boosted its stake in Marathon Petroleum by 3.9% in 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 acquiring an additional 63 shares during the last quarter. Werba Rubin Papier Wealth Management boosted its stake in Marathon Petroleum by 4.2% in 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 acquiring an additional 64 shares during the last quarter. Sunpointe LLC boosted its stake in Marathon Petroleum by 4.1% in the second quarter. Sunpointe LLC now owns 1,750 shares of the oil and gas company’s stock valued at $291,000 after acquiring an additional 69 shares during the last quarter. Finally, Wallace Advisory Group LLC boosted its stake in Marathon Petroleum by 3.4% in the second quarter. Wallace Advisory Group LLC now owns 2,258 shares of the oil and gas company’s stock valued at $375,000 after acquiring an additional 75 shares during the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $195.95 on Friday. The stock has a market capitalization of $59.57 billion, a P/E ratio of 29.07, a PEG ratio of 3.95 and a beta of 0.90. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. The firm’s 50 day moving average is $182.85 and its 200 day moving average is $166.38. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $201.61.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, beating analysts’ consensus estimates of $3.22 by $0.74. The company had revenue of $34.10 billion for 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%. Marathon Petroleum’s revenue was down 11.1% compared to the same quarter last year. During the same period in the prior year, the company posted $4.12 EPS. On average, sell-side analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th were issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Wednesday, August 20th. Marathon Petroleum’s dividend payout ratio is 54.01%.

Analyst Ratings Changes

MPC has been the topic of a number of research analyst reports. TD Cowen dropped their target price on shares of Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Wells Fargo & Company initiated coverage on shares of Marathon Petroleum in a research note on Friday, October 17th. They issued an “overweight” rating and a $214.00 target price on the stock. Morgan Stanley boosted their target price on shares of Marathon Petroleum from $182.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, October 3rd. Raymond James Financial reiterated an “outperform” rating and issued a $203.00 target price (up from $199.00) on shares of Marathon Petroleum in a research note on Friday, October 17th. Finally, Scotiabank reiterated an “outperform” rating on shares of Marathon Petroleum in a research note on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $200.31.

Insiders Place Their Bets

In related news, insider Molly R. Benson sold 10,879 shares of the company’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the sale, the insider owned 28,700 shares of the company’s stock, valued at approximately $4,678,100. This represents a 27.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.21% of the company’s stock.

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.