OLD Point Trust & Financial Services N A Has $918,000 Stock Position in Marathon Petroleum Corporation $MPC

OLD Point Trust & Financial Services N A trimmed its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 11.2% during the second quarter, Holdings Channel reports. The firm owned 5,525 shares of the oil and gas company’s stock after selling 700 shares during the period. OLD Point Trust & Financial Services N A’s holdings in Marathon Petroleum were worth $918,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of MPC. Brighton Jones LLC boosted its holdings in shares of Marathon Petroleum by 30.9% in the 4th quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock worth $696,000 after acquiring an additional 1,178 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of Marathon Petroleum by 44.0% in the 1st quarter. Versant Capital Management Inc now owns 1,064 shares of the oil and gas company’s stock worth $155,000 after acquiring an additional 325 shares in the last quarter. 180 Wealth Advisors LLC boosted its holdings in shares of Marathon Petroleum by 5.1% in the 1st quarter. 180 Wealth Advisors LLC now owns 2,373 shares of the oil and gas company’s stock worth $346,000 after acquiring an additional 116 shares in the last quarter. Baker Tilly Wealth Management LLC boosted its holdings in shares of Marathon Petroleum by 14.7% in the 1st quarter. Baker Tilly Wealth Management LLC now owns 2,166 shares of the oil and gas company’s stock worth $316,000 after acquiring an additional 278 shares in the last quarter. Finally, NBC Securities Inc. boosted its holdings in shares of Marathon Petroleum by 47,033.3% in the 1st quarter. NBC Securities Inc. now owns 1,414 shares of the oil and gas company’s stock worth $206,000 after acquiring an additional 1,411 shares in the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Stock Performance

MPC stock opened at $192.75 on Wednesday. The business’s fifty day moving average is $175.87 and its 200-day moving average is $161.31. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. The company has a market cap of $58.60 billion, a P/E ratio of 28.60, a price-to-earnings-growth ratio of 3.41 and a beta of 0.97. Marathon Petroleum Corporation has a twelve month low of $115.10 and a twelve month high of $201.61.

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

Marathon Petroleum Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Kim K.W. Rucker sold 7,392 shares of the company’s stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total value of $1,293,600.00. Following the completion of the sale, the director owned 18,944 shares in the company, valued at $3,315,200. This represents a 28.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Molly R. Benson sold 10,879 shares of the company’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 owned 28,700 shares of the company’s stock, valued at approximately $4,678,100. This represents a 27.49% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on MPC shares. Dbs Bank raised Marathon Petroleum to a “moderate buy” rating in a report on Monday, July 28th. Bank of America upped their price objective on Marathon Petroleum from $184.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, September 3rd. Scotiabank reissued an “outperform” rating on shares of Marathon Petroleum in a research note on Friday, July 11th. Wolfe Research lowered Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 14th. Finally, TD Cowen cut their price target on Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Eight analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $195.00.

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.