Marathon Petroleum Corporation $MPC Stake Increased by Capital City Trust Co. FL

Capital City Trust Co. FL increased its stake in Marathon Petroleum Corporation (NYSE:MPC) by 0.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,502 shares of the oil and gas company’s stock after buying an additional 157 shares during the period. Marathon Petroleum comprises about 1.4% of Capital City Trust Co. FL’s investment portfolio, making the stock its 22nd largest position. Capital City Trust Co. FL’s holdings in Marathon Petroleum were worth $5,233,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in MPC. Vanguard Group Inc. increased its stake in shares of Marathon Petroleum by 12.3% in the first quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company’s stock worth $5,090,611,000 after buying an additional 3,834,501 shares during the last quarter. Boston Partners boosted its holdings in Marathon Petroleum by 58.5% in the first quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company’s stock worth $791,274,000 after purchasing an additional 2,011,810 shares during the period. Wellington Management Group LLP boosted its holdings in Marathon Petroleum by 18.7% in 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 purchasing an additional 1,862,674 shares during the period. Nuveen LLC acquired a new position in Marathon Petroleum in the first quarter worth $147,122,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Marathon Petroleum by 26.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,675,362 shares of the oil and gas company’s stock worth $535,465,000 after purchasing an additional 769,015 shares during the period. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

MPC stock opened at $193.31 on Friday. The company has a market capitalization of $58.77 billion, a P/E ratio of 28.68, a PEG ratio of 3.35 and a beta of 0.90. The company has a 50-day simple moving average of $177.02 and a 200 day simple moving average of $162.25. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $201.61. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share for the quarter, topping the consensus estimate of $3.22 by $0.74. The business had revenue of $34.10 billion during the quarter, compared to the consensus estimate of $31.70 billion. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The company’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.12 earnings per share. Sell-side analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

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

Insiders Place Their Bets

In related news, insider Molly R. Benson sold 10,879 shares of the company’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $163.00, for a total value of $1,773,277.00. Following the completion of the sale, the insider owned 28,700 shares of the company’s stock, valued at $4,678,100. This represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.21% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MPC. Bank of America lifted their price objective on shares of Marathon Petroleum from $184.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, September 3rd. Wolfe Research downgraded shares of Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a report on Monday, July 14th. Evercore ISI lifted their price objective on shares of Marathon Petroleum from $170.00 to $210.00 and gave the stock an “in-line” rating in a report on Friday, September 19th. Mizuho lifted their price objective on shares of Marathon Petroleum from $184.00 to $188.00 and gave the stock a “neutral” rating in a report on Monday, September 15th. Finally, Dbs Bank raised shares of Marathon Petroleum to a “moderate buy” rating in a report on Monday, July 28th. Eight research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $196.29.

Marathon Petroleum Company 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.