Argent Trust Co Cuts Stake in Marathon Petroleum Co. (NYSE:MPC)

Argent Trust Co decreased its stake in Marathon Petroleum Co. (NYSE:MPC) by 0.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,507 shares of the oil and gas company’s stock after selling 96 shares during the period. Argent Trust Co’s holdings in Marathon Petroleum were worth $3,037,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. NBC Securities Inc. grew its position in Marathon Petroleum by 0.9% in the first quarter. NBC Securities Inc. now owns 6,333 shares of the oil and gas company’s stock valued at $1,276,000 after acquiring an additional 55 shares in the last quarter. Guidance Capital Inc. increased its stake in Marathon Petroleum by 1.1% during the 1st quarter. Guidance Capital Inc. now owns 5,483 shares of the oil and gas company’s stock worth $1,135,000 after buying an additional 57 shares during the period. WR Wealth Planners LLC lifted its holdings in Marathon Petroleum by 15.2% in the 2nd quarter. WR Wealth Planners LLC now owns 431 shares of the oil and gas company’s stock worth $75,000 after buying an additional 57 shares in the last quarter. Bruce G. Allen Investments LLC boosted its position in Marathon Petroleum by 27.3% in the 1st quarter. Bruce G. Allen Investments LLC now owns 275 shares of the oil and gas company’s stock valued at $55,000 after buying an additional 59 shares during the last quarter. Finally, First Financial Corp IN increased its position in shares of Marathon Petroleum by 2.5% during the first quarter. First Financial Corp IN now owns 2,429 shares of the oil and gas company’s stock worth $489,000 after acquiring an additional 59 shares during the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Price Performance

Shares of MPC opened at $164.67 on Thursday. Marathon Petroleum Co. has a 12 month low of $139.32 and a 12 month high of $221.11. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.31 and a quick ratio of 0.90. The stock has a fifty day moving average price of $169.97 and a 200 day moving average price of $179.93. The company has a market cap of $58.02 billion, a P/E ratio of 8.23, a PEG ratio of 2.09 and a beta of 1.38.

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, topping analysts’ consensus estimates of $3.09 by $1.03. The business had revenue of $38.36 billion for the quarter, compared to analysts’ expectations of $36.66 billion. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter last year, the company earned $5.32 EPS. On average, research analysts forecast that Marathon Petroleum Co. will post 12.68 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were issued a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date was Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio (DPR) is 16.48%.

Analyst Upgrades and Downgrades

MPC has been the subject of a number of analyst reports. Morgan Stanley reduced their price target on Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a report on Monday. JPMorgan Chase & Co. dropped their price target on shares of Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. Mizuho reduced their price objective on shares of Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating on the stock in a research note on Monday. Scotiabank dropped their target price on shares of Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Finally, Wells Fargo & Company reduced their price target on shares of Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Two analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $199.46.

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.