FineMark National Bank & Trust Purchases 154 Shares of Marathon Petroleum Co. (NYSE:MPC)

FineMark National Bank & Trust lifted its holdings in Marathon Petroleum Co. (NYSE:MPC) by 1.8% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,650 shares of the oil and gas company’s stock after buying an additional 154 shares during the period. FineMark National Bank & Trust’s holdings in Marathon Petroleum were worth $1,501,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MPC. Scarborough Advisors LLC boosted its position in Marathon Petroleum by 10.7% in the fourth quarter. Scarborough Advisors LLC now owns 2,174 shares of the oil and gas company’s stock worth $323,000 after purchasing an additional 210 shares during the last quarter. Global Assets Advisory LLC purchased a new position in shares of Marathon Petroleum in the 1st quarter worth about $36,823,000. Founders Financial Securities LLC grew its position in Marathon Petroleum by 22.8% during the second quarter. Founders Financial Securities LLC now owns 4,972 shares of the oil and gas company’s stock valued at $863,000 after buying an additional 924 shares during the period. Canoe Financial LP purchased a new stake in Marathon Petroleum during the fourth quarter worth about $33,604,000. Finally, Fidelis Capital Partners LLC raised its position in Marathon Petroleum by 3.2% in the first quarter. Fidelis Capital Partners LLC now owns 3,050 shares of the oil and gas company’s stock worth $615,000 after acquiring an additional 94 shares during the period. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

Shares of NYSE:MPC opened at $168.46 on Friday. The company has a 50 day moving average of $171.36 and a 200 day moving average of $180.24. The company has a current ratio of 1.31, a quick ratio of 0.90 and a debt-to-equity ratio of 0.86. The stock has a market cap of $59.35 billion, a P/E ratio of 8.41, a P/E/G ratio of 2.33 and a beta of 1.40. Marathon Petroleum Co. has a 12 month low of $139.32 and a 12 month high of $221.11.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $1.03. The firm had revenue of $38.36 billion during the quarter, compared to analyst estimates of $36.66 billion. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the previous year, the business earned $5.32 EPS. As a group, sell-side analysts forecast that Marathon Petroleum Co. will post 12.68 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be given a dividend of $0.825 per share. The ex-dividend date is Wednesday, August 21st. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.96%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 16.48%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Jefferies Financial Group increased their target price on shares of Marathon Petroleum from $222.00 to $231.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Piper Sandler decreased their target price on Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating for the company in a research report on Friday, June 14th. Barclays dropped their price target on Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating on the stock in a research report on Monday, July 1st. Wells Fargo & Company decreased their price objective on Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Finally, Mizuho dropped their price objective on shares of Marathon Petroleum from $203.00 to $201.00 and set a “neutral” rating on the stock in a report on Thursday, June 20th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $198.38.

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.