TIAA Trust National Association Decreases Position in Marathon Petroleum Corporation $MPC

TIAA Trust National Association lowered its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 4.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,892 shares of the oil and gas company’s stock after selling 513 shares during the period. TIAA Trust National Association’s holdings in Marathon Petroleum were worth $1,643,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in MPC. Vanguard Group Inc. grew its holdings in shares of Marathon Petroleum by 12.3% during the 1st quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company’s stock worth $5,090,611,000 after acquiring an additional 3,834,501 shares during the period. Wellington Management Group LLP lifted its holdings 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 valued at $1,722,664,000 after purchasing an additional 1,862,674 shares during the last quarter. Raymond James Financial Inc. grew its stake in shares of 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 buying an additional 355,215 shares during the last quarter. Boston Partners grew its stake in shares of Marathon Petroleum by 58.5% in the 1st quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company’s stock worth $791,274,000 after buying an additional 2,011,810 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Marathon Petroleum by 26.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,675,362 shares of the oil and gas company’s stock valued at $535,465,000 after buying an additional 769,015 shares during the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. UBS Group increased their target price on Marathon Petroleum from $203.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. BMO Capital Markets increased their price objective on shares of Marathon Petroleum from $195.00 to $208.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Mizuho increased their price objective on shares of Marathon Petroleum from $184.00 to $188.00 and gave the company a “neutral” rating in a research report on Monday, September 15th. Wolfe Research cut shares of Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a report on Monday, July 14th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Marathon Petroleum in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, Marathon Petroleum has a consensus rating of “Moderate Buy” and a consensus target price of $200.31.

Marathon Petroleum Price Performance

Shares of NYSE:MPC opened at $195.93 on Tuesday. The business has a 50-day simple moving average of $186.93 and a two-hundred day simple moving average of $170.76. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23. The firm has a market cap of $59.57 billion, a price-to-earnings ratio of 29.07, a price-to-earnings-growth ratio of 4.08 and a beta of 0.90. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $201.61.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share for the quarter, beating the consensus estimate of $3.22 by $0.74. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The firm had revenue of $34.10 billion during the quarter, compared to analysts’ expectations of $31.70 billion. During the same period in the previous year, the company earned $4.12 earnings per share. The firm’s quarterly revenue was down 11.1% on a year-over-year basis. On average, analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Increases Dividend

The business 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 $1.00 dividend. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.91. This represents a $4.00 annualized dividend and a yield of 2.0%. The ex-dividend date is Wednesday, November 19th. Marathon Petroleum’s dividend payout ratio is 54.01%.

Insiders Place Their Bets

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the business’s stock in a transaction 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 completion of the sale, the insider directly owned 28,700 shares in the company, valued at approximately $4,678,100. The trade was a 27.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

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.