Fulton Bank N.A. Purchases 208 Shares of Marathon Petroleum Co. (NYSE:MPC)

Fulton Bank N.A. boosted its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 2.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,510 shares of the oil and gas company’s stock after acquiring an additional 208 shares during the quarter. Fulton Bank N.A.’s holdings in Marathon Petroleum were worth $1,549,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Scarborough Advisors LLC lifted its stake in shares of Marathon Petroleum by 10.7% in the 4th quarter. Scarborough Advisors LLC now owns 2,174 shares of the oil and gas company’s stock valued at $323,000 after purchasing an additional 210 shares during the last quarter. Global Assets Advisory LLC acquired a new position in shares of Marathon Petroleum during the 1st quarter valued at about $36,823,000. Founders Financial Securities LLC raised its stake in shares of Marathon Petroleum by 22.8% in the 2nd quarter. Founders Financial Securities LLC now owns 4,972 shares of the oil and gas company’s stock valued at $863,000 after acquiring an additional 924 shares in the last quarter. Fidelis Capital Partners LLC lifted its holdings in Marathon Petroleum by 3.2% in the 1st quarter. Fidelis Capital Partners LLC now owns 3,050 shares of the oil and gas company’s stock worth $615,000 after purchasing an additional 94 shares during the last quarter. Finally, LRI Investments LLC bought a new stake in Marathon Petroleum during the first quarter worth approximately $97,000. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Price Performance

NYSE:MPC opened at $173.24 on Tuesday. The company has a market capitalization of $61.04 billion, a price-to-earnings ratio of 8.65, a PEG ratio of 2.59 and a beta of 1.37. The company has a 50-day moving average of $169.69 and a 200-day moving average of $178.25. Marathon Petroleum Co. has a 52 week low of $140.98 and a 52 week high of $221.11. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 1.31.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $1.03. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The company had revenue of $38.36 billion for the quarter, compared to the consensus estimate of $36.66 billion. During the same period in the previous year, the business earned $5.32 earnings per share. The company’s quarterly revenue was up 4.2% on a year-over-year basis. As a group, equities research analysts anticipate that Marathon Petroleum Co. will post 10.56 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were paid a dividend of $0.825 per share. The ex-dividend date was Wednesday, August 21st. This represents a $3.30 annualized dividend and a yield of 1.90%. Marathon Petroleum’s dividend payout ratio is currently 16.48%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MPC shares. BMO Capital Markets reduced their price objective on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating for the company in a research note on Friday. Piper Sandler decreased their price target on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, September 20th. StockNews.com cut Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. Wolfe Research initiated coverage on Marathon Petroleum in a report on Thursday, July 18th. They issued an “outperform” rating and a $200.00 target price on the stock. Finally, JPMorgan Chase & Co. cut their price target on Marathon Petroleum from $186.00 to $172.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Marathon Petroleum has a consensus rating of “Moderate Buy” and a consensus target price of $196.14.

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.