Crossmark Global Holdings Inc. Has $11.30 Million Stake in Marathon Petroleum Co. (NYSE:MPC)

Crossmark Global Holdings Inc. decreased its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 48.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,197 shares of the oil and gas company’s stock after selling 71,037 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Marathon Petroleum were worth $11,304,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of MPC. Marino Stram & Associates LLC grew its holdings in Marathon Petroleum by 0.5% during the fourth quarter. Marino Stram & Associates LLC now owns 11,424 shares of the oil and gas company’s stock valued at $1,695,000 after purchasing an additional 60 shares during the period. SteelPeak Wealth LLC grew its holdings in Marathon Petroleum by 0.3% during the fourth quarter. SteelPeak Wealth LLC now owns 20,408 shares of the oil and gas company’s stock valued at $3,028,000 after purchasing an additional 67 shares during the period. Aaron Wealth Advisors LLC grew its holdings in Marathon Petroleum by 4.5% during the fourth quarter. Aaron Wealth Advisors LLC now owns 1,559 shares of the oil and gas company’s stock valued at $231,000 after purchasing an additional 67 shares during the period. Mission Wealth Management LP grew its holdings in Marathon Petroleum by 0.8% during the fourth quarter. Mission Wealth Management LP now owns 8,756 shares of the oil and gas company’s stock valued at $1,299,000 after purchasing an additional 67 shares during the period. Finally, Pine Valley Investments Ltd Liability Co grew its holdings in Marathon Petroleum by 1.9% during the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 4,102 shares of the oil and gas company’s stock valued at $609,000 after purchasing an additional 75 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on MPC shares. Scotiabank upped their price target on shares of Marathon Petroleum from $175.00 to $207.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Bank of America upped their price target on shares of Marathon Petroleum from $185.00 to $230.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Mizuho upped their price target on shares of Marathon Petroleum from $200.00 to $203.00 and gave the company a “neutral” rating in a report on Monday, May 13th. The Goldman Sachs Group upped their price target on shares of Marathon Petroleum from $175.00 to $211.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, Tudor Pickering upgraded shares of Marathon Petroleum to a “strong-buy” rating in a report on Thursday, May 30th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Marathon Petroleum presently has an average rating of “Moderate Buy” and an average price target of $194.23.

Marathon Petroleum Stock Performance

NYSE MPC traded down $1.34 on Wednesday, hitting $173.92. 2,148,254 shares of the stock were exchanged, compared to its average volume of 2,711,213. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.43 and a quick ratio of 0.99. The business’s fifty day moving average is $191.04 and its 200 day moving average is $172.72. Marathon Petroleum Co. has a 52 week low of $106.95 and a 52 week high of $221.11. The company has a market capitalization of $61.28 billion, a PE ratio of 8.75, a P/E/G ratio of 1.51 and a beta of 1.45.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.25. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The firm had revenue of $32.71 billion for the quarter, compared to analyst estimates of $32.07 billion. During the same period in the prior year, the firm posted $6.09 earnings per share. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. Research analysts anticipate that Marathon Petroleum Co. will post 19.3 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 16th will be given a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Wednesday, May 15th. Marathon Petroleum’s dividend payout ratio (DPR) is currently 16.48%.

Marathon Petroleum declared that its Board of Directors has authorized a stock buyback plan on Tuesday, April 30th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to purchase up to 7.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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.