Adirondack Trust Co. Sells 200 Shares of Marathon Petroleum Co. (NYSE:MPC)

Adirondack Trust Co. cut its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 15.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,070 shares of the oil and gas company’s stock after selling 200 shares during the quarter. Adirondack Trust Co.’s holdings in Marathon Petroleum were worth $149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Paragon Capital Management Inc. boosted its holdings in shares of Marathon Petroleum by 0.6% during the second quarter. Paragon Capital Management Inc. now owns 10,196 shares of the oil and gas company’s stock worth $1,769,000 after purchasing an additional 65 shares during the period. Catalyst Financial Partners LLC lifted its holdings in Marathon Petroleum by 1.6% in the 3rd quarter. Catalyst Financial Partners LLC now owns 4,285 shares of the oil and gas company’s stock worth $698,000 after buying an additional 67 shares during the period. American Trust grew its position 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 worth $228,000 after buying an additional 70 shares during the last quarter. Financial Partners Group LLC increased its stake in shares of Marathon Petroleum by 3.3% during the third quarter. Financial Partners Group LLC now owns 2,220 shares of the oil and gas company’s stock valued at $362,000 after buying an additional 71 shares during the period. Finally, Oak Harbor Wealth Partners LLC increased its stake in shares of Marathon Petroleum by 0.6% during the third quarter. Oak Harbor Wealth Partners LLC now owns 12,775 shares of the oil and gas company’s stock valued at $2,081,000 after buying an additional 73 shares during the period. 76.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on MPC shares. JPMorgan Chase & Co. cut their price target on shares of Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. TD Cowen reaffirmed a “buy” rating and set a $170.00 target price on shares of Marathon Petroleum in a research note on Tuesday, December 10th. Scotiabank decreased their price target on shares of Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Citigroup lowered their price objective on shares of Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Finally, Barclays reduced their target price on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Marathon Petroleum has a consensus rating of “Moderate Buy” and a consensus price target of $181.20.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, Director Jeffrey C. Campbell bought 6,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was acquired at an average price of $149.61 per share, with a total value of $897,660.00. Following the transaction, the director now owns 6,090 shares in the company, valued at $911,124.90. This represents a 6,666.67 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.21% of the company’s stock.

Marathon Petroleum Trading Down 2.2 %

NYSE MPC opened at $147.51 on Thursday. The stock’s fifty day moving average price is $147.38 and its 200-day moving average price is $158.72. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. The stock has a market cap of $47.41 billion, a P/E ratio of 11.69, a P/E/G ratio of 2.94 and a beta of 1.42. Marathon Petroleum Co. has a 12 month low of $130.54 and a 12 month high of $221.11.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share 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 analyst estimates of $34.34 billion. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. Marathon Petroleum’s revenue was down 14.9% compared to the same quarter last year. During the same period last year, the business earned $8.14 EPS. As a group, equities analysts forecast that Marathon Petroleum Co. will post 8.88 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th were issued a $0.91 dividend. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. This represents a $3.64 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend was Wednesday, November 20th. Marathon Petroleum’s payout ratio is presently 28.84%.

Marathon Petroleum declared that its board has authorized a stock repurchase plan on Tuesday, November 5th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the oil and gas company to repurchase up to 10% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.

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.