Marathon Petroleum Corporation $MPC Stock Sold by Capital City Trust Co. FL

Capital City Trust Co. FL reduced its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 7.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,539 shares of the oil and gas company’s stock after selling 2,166 shares during the quarter. Marathon Petroleum comprises 2.2% of Capital City Trust Co. FL’s investment portfolio, making the stock its 12th largest position. Capital City Trust Co. FL’s holdings in Marathon Petroleum were worth $10,494,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Solstein Capital LLC purchased a new position in Marathon Petroleum in the 2nd quarter worth approximately $26,000. Caitlin John LLC acquired a new stake in Marathon Petroleum in the 2nd quarter worth approximately $26,000. Bell Investment Advisors Inc purchased a new stake in Marathon Petroleum in the 2nd quarter worth approximately $27,000. Cetera Trust Company N.A purchased a new stake in shares of Marathon Petroleum during the second quarter worth about $35,000. Finally, Frazier Financial Advisors LLC acquired a new position in Marathon Petroleum during the second quarter worth $36,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

Shares of Marathon Petroleum stock opened at $457.00 on Friday. The firm’s 50-day moving average price is $410.05 and its two-hundred day moving average price is $316.79. Marathon Petroleum Corporation has a 1-year low of $161.93 and a 1-year high of $493.98. The stock has a market capitalization of $133.42 billion, a price-to-earnings ratio of 15.71, a P/E/G ratio of 0.12 and a beta of 0.54. The company has a current ratio of 1.25, a quick ratio of 0.89 and a debt-to-equity ratio of 1.19.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $14.27 by $3.46. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%. The business had revenue of $51.99 billion for the quarter, compared to analysts’ expectations of $40.87 billion. During the same quarter last year, the business earned $3.96 earnings per share. The firm’s quarterly revenue was up 53.5% compared to the same quarter last year. On average, equities analysts predict that Marathon Petroleum Corporation will post 63.58 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio is 13.75%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MPC shares. Mizuho increased their price objective on Marathon Petroleum from $304.00 to $457.00 and gave the company a “neutral” rating in a report on Thursday, October 8th. Zacks Research upgraded Marathon Petroleum from a “hold” rating to a “strong-buy” rating in a report on Friday, September 4th. Piper Sandler increased their price target on Marathon Petroleum from $344.00 to $462.00 and gave the company an “overweight” rating in a research note on Thursday, September 3rd. Raymond James Financial lifted their price target on Marathon Petroleum from $350.00 to $445.00 and gave the company an “outperform” rating in a report on Monday, September 14th. Finally, The Goldman Sachs Group increased their target price on shares of Marathon Petroleum from $376.00 to $472.00 and gave the stock a “buy” rating in a research report on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Marathon Petroleum has a consensus rating of “Moderate Buy” and an average target price of $424.31.

Insider Buying and Selling

In other news, insider Molly Benson sold 17,196 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $358.57, for a total transaction of $6,165,969.72. Following the transaction, the insider directly owned 30,334 shares of the company’s stock, valued at approximately $10,876,862.38. This trade represents a 36.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Erin M. Brzezinski sold 570 shares of the business’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $362.79, for a total value of $206,790.30. Following the transaction, the vice president directly owned 1,576 shares of the company’s stock, valued at $571,757.04. This trade represents a 26.56% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 21,691 shares of company stock valued at $7,780,127. Insiders own 0.17% of the company’s stock.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation (NYSE:MPC) is an American downstream energy company engaged in refining, marketing, and transporting petroleum products. Its operations include converting crude oil into gasoline, diesel, jet fuel, asphalt, propane, and other refined products used by transportation, industrial, and commercial customers.

The company markets fuel under the Marathon brand and supplies products to independent marketers, commercial businesses, and other wholesale customers. Marathon Petroleum also owns a general-partner interest and significant limited-partner interest in MPLX Inc, a midstream company that operates pipelines, storage facilities, terminals, and gathering and processing assets supporting the movement of crude oil and natural gas liquids.

Marathon Petroleum’s refining and midstream activities are concentrated in the United States, with assets serving regions across the Midwest, Gulf Coast, and West Coast.