Fulton Bank N.A. Trims Holdings in Marathon Petroleum Co. (NYSE:MPC)

Fulton Bank N.A. lowered its position in Marathon Petroleum Co. (NYSE:MPC) by 2.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,288 shares of the oil and gas company’s stock after selling 222 shares during the period. Fulton Bank N.A.’s holdings in Marathon Petroleum were worth $1,296,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its holdings in shares of Marathon Petroleum by 0.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 7,165 shares of the oil and gas company’s stock valued at $1,268,000 after acquiring an additional 61 shares during the last quarter. Paragon Capital Management Inc. boosted its holdings in Marathon Petroleum by 0.6% in the second quarter. Paragon Capital Management Inc. now owns 10,196 shares of the oil and gas company’s stock valued at $1,769,000 after purchasing an additional 65 shares during the last quarter. Main Street Financial Solutions LLC grew its position in Marathon Petroleum by 2.9% during the 2nd quarter. Main Street Financial Solutions LLC now owns 2,417 shares of the oil and gas company’s stock worth $419,000 after purchasing an additional 67 shares during the period. Catalyst Financial Partners LLC raised its stake in shares of Marathon Petroleum by 1.6% during the 3rd quarter. Catalyst Financial Partners LLC now owns 4,285 shares of the oil and gas company’s stock valued at $698,000 after buying an additional 67 shares during the last quarter. Finally, American Trust lifted its holdings in shares of Marathon Petroleum by 5.3% in the 3rd quarter. American Trust now owns 1,397 shares of the oil and gas company’s stock valued at $228,000 after buying an additional 70 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Piper Sandler dropped their target price on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, September 20th. TD Cowen reaffirmed a “buy” rating and set a $170.00 price objective on shares of Marathon Petroleum in a research note on Tuesday, December 10th. BMO Capital Markets decreased their target price 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, October 4th. Wells Fargo & Company raised their price target on shares of Marathon Petroleum from $183.00 to $186.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Finally, Scotiabank decreased their price objective on shares of Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Marathon Petroleum has a consensus rating of “Moderate Buy” and an average target price of $184.00.

Marathon Petroleum Stock Up 0.5 %

Shares of MPC opened at $142.36 on Thursday. The stock has a 50 day moving average price of $147.92 and a 200 day moving average price of $160.47. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. The stock has a market capitalization of $45.75 billion, a price-to-earnings ratio of 11.28, a PEG ratio of 2.56 and a beta of 1.42. Marathon Petroleum Co. has a one year low of $130.54 and a one year high of $221.11.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.90. The business had revenue of $35.37 billion during the quarter, compared to analysts’ expectations of $34.34 billion. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The company’s quarterly revenue was down 14.9% compared to the same quarter last year. During the same period in the prior year, the business earned $8.14 earnings per share. Equities research analysts forecast that Marathon Petroleum Co. will post 9.47 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th were issued a dividend of $0.91 per share. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. This represents a $3.64 annualized dividend and a dividend yield of 2.56%. The ex-dividend date was Wednesday, November 20th. Marathon Petroleum’s payout ratio is currently 28.84%.

Marathon Petroleum announced that its Board of Directors has initiated a share buyback program on Tuesday, November 5th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the oil and gas company to reacquire up to 10% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, Director Jeffrey C. Campbell acquired 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was purchased at an average cost of $149.61 per share, for a total transaction of $897,660.00. Following the completion of the transaction, the director now owns 6,090 shares in the company, valued at approximately $911,124.90. This trade represents a 6,666.67 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.21% of the company’s stock.

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.