Rockland Trust Co. Has $217,000 Holdings in Marathon Petroleum Co. (NYSE:MPC)

Rockland Trust Co. lessened its stake in Marathon Petroleum Co. (NYSE:MPCFree Report) by 29.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,077 shares of the oil and gas company’s stock after selling 447 shares during the quarter. Rockland Trust Co.’s holdings in Marathon Petroleum were worth $217,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rathbones Group PLC acquired a new position in Marathon Petroleum during the third quarter worth $548,000. Visionary Wealth Advisors boosted its holdings in Marathon Petroleum by 4.0% during the third quarter. Visionary Wealth Advisors now owns 1,965 shares of the oil and gas company’s stock worth $297,000 after purchasing an additional 76 shares during the last quarter. Stifel Financial Corp boosted its holdings in Marathon Petroleum by 0.6% during the third quarter. Stifel Financial Corp now owns 201,855 shares of the oil and gas company’s stock worth $30,549,000 after purchasing an additional 1,303 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Marathon Petroleum by 65.5% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 922 shares of the oil and gas company’s stock worth $140,000 after purchasing an additional 365 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC boosted its holdings in Marathon Petroleum by 3.9% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 6,259 shares of the oil and gas company’s stock worth $947,000 after purchasing an additional 237 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Analyst Ratings Changes

MPC has been the subject of several recent research reports. Wells Fargo & Company reduced their target price on shares of Marathon Petroleum from $227.00 to $223.00 and set an “overweight” rating for the company in a report on Thursday, June 6th. JPMorgan Chase & Co. increased their price target on shares of Marathon Petroleum from $172.00 to $186.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. Tudor Pickering upgraded shares of Marathon Petroleum to a “strong-buy” rating in a research note on Thursday, May 30th. Mizuho cut their price target on shares of Marathon Petroleum from $203.00 to $201.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, Raymond James cut their price target on shares of Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating for the company in a research note on Thursday, May 30th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $192.08.

View Our Latest Stock Analysis on Marathon Petroleum

Marathon Petroleum Trading Down 0.6 %

NYSE:MPC traded down $0.99 during mid-day trading on Friday, hitting $172.67. 7,346,460 shares of the company’s stock were exchanged, compared to its average volume of 2,355,093. The company has a 50 day simple moving average of $181.41 and a 200-day simple moving average of $174.68. The company has a current ratio of 1.43, a quick ratio of 0.99 and a debt-to-equity ratio of 0.85. Marathon Petroleum Co. has a fifty-two week low of $108.88 and a fifty-two week high of $221.11. The firm has a market capitalization of $60.84 billion, a P/E ratio of 8.62, a PEG ratio of 1.55 and a beta of 1.45.

Marathon Petroleum (NYSE:MPCGet Free Report) last posted its earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 EPS for the quarter, topping the consensus estimate of $2.53 by $0.25. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The business had revenue of $32.71 billion for the quarter, compared to the consensus estimate of $32.07 billion. During the same period last year, the company earned $6.09 EPS. The firm’s revenue was down 6.2% compared to the same quarter last year. As a group, research analysts expect that Marathon Petroleum Co. will post 18.65 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Thursday, May 16th were issued a dividend of $0.825 per share. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $3.30 annualized dividend and a yield of 1.91%. Marathon Petroleum’s payout ratio is 16.48%.

Marathon Petroleum announced that its board has authorized a stock repurchase plan on Tuesday, April 30th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the oil and gas company to buy up to 7.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

About Marathon Petroleum

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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