FineMark National Bank & Trust Sells 820 Shares of Marathon Petroleum Corporation $MPC

FineMark National Bank & Trust reduced its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 10.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,308 shares of the oil and gas company’s stock after selling 820 shares during the quarter. FineMark National Bank & Trust’s holdings in Marathon Petroleum were worth $1,214,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of MPC. Vanguard Group Inc. raised its holdings in Marathon Petroleum by 11.2% during the 2nd quarter. Vanguard Group Inc. now owns 38,866,104 shares of the oil and gas company’s stock worth $6,456,049,000 after buying an additional 3,924,713 shares during the period. Wellington Management Group LLP increased its position in shares of Marathon Petroleum by 18.7% during the first quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company’s stock worth $1,722,664,000 after acquiring an additional 1,862,674 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Marathon Petroleum by 14.8% during the second quarter. Geode Capital Management LLC now owns 8,013,213 shares of the oil and gas company’s stock worth $1,325,598,000 after acquiring an additional 1,033,645 shares during the period. Boston Partners lifted its position in Marathon Petroleum by 13.0% in the 2nd quarter. Boston Partners now owns 6,155,996 shares of the oil and gas company’s stock valued at $1,023,110,000 after acquiring an additional 707,482 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its stake in Marathon Petroleum by 6.3% in the 1st quarter. Raymond James Financial Inc. now owns 6,037,532 shares of the oil and gas company’s stock worth $879,608,000 after purchasing an additional 355,215 shares during the period. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Scotiabank reissued an “outperform” rating on shares of Marathon Petroleum in a research note on Thursday, October 9th. Evercore ISI boosted their price objective on shares of Marathon Petroleum from $170.00 to $210.00 and gave the stock an “in-line” rating in a research report on Friday, September 19th. Raymond James Financial set a $200.00 target price on shares of Marathon Petroleum in a research report on Tuesday, November 4th. Piper Sandler boosted their price target on shares of Marathon Petroleum from $220.00 to $231.00 and gave the stock a “neutral” rating in a research report on Friday, November 14th. Finally, Bank of America raised their price objective on Marathon Petroleum from $184.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, September 3rd. Eight investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, Marathon Petroleum has a consensus rating of “Hold” and a consensus price target of $202.14.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $195.56 on Thursday. The company has a fifty day moving average price of $190.56 and a two-hundred day moving average price of $175.49. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $202.29. The stock has a market cap of $58.79 billion, a P/E ratio of 20.85, a P/E/G ratio of 4.82 and a beta of 0.90. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.32 and a quick ratio of 0.79.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.00 by $0.01. Marathon Petroleum had a net margin of 2.13% and a return on equity of 9.76%. The company had revenue of $34.81 billion for the quarter, compared to analysts’ expectations of $31.06 billion. As a group, equities analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Wednesday, November 19th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Wednesday, November 19th. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.91. Marathon Petroleum’s payout ratio is presently 38.81%.

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.