First American Bank Sells 8,087 Shares of Marathon Petroleum Corporation $MPC

First American Bank reduced its position in Marathon Petroleum Corporation (NYSE:MPC) by 25.4% during the third quarter, HoldingsChannel reports. The fund owned 23,801 shares of the oil and gas company’s stock after selling 8,087 shares during the quarter. First American Bank’s holdings in Marathon Petroleum were worth $4,587,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its holdings in Marathon Petroleum by 30.9% in the 4th quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock worth $696,000 after buying an additional 1,178 shares during the period. State of Wyoming purchased a new stake in shares of Marathon Petroleum during the first quarter worth $187,000. WPG Advisers LLC bought a new position in shares of Marathon Petroleum in the first quarter worth $32,000. Evergreen Capital Management LLC grew its position in shares of Marathon Petroleum by 8.0% in the first quarter. Evergreen Capital Management LLC now owns 3,365 shares of the oil and gas company’s stock valued at $490,000 after purchasing an additional 248 shares in the last quarter. Finally, Vident Advisory LLC raised its stake in shares of Marathon Petroleum by 0.7% during the 1st quarter. Vident Advisory LLC now owns 15,721 shares of the oil and gas company’s stock valued at $2,291,000 after purchasing an additional 115 shares during the period. Institutional investors own 76.77% of the company’s stock.

Wall Street Analysts Forecast Growth

MPC has been the subject of several analyst reports. Wells Fargo & Company cut their target price on Marathon Petroleum from $214.00 to $213.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Bank of America increased their target price on shares of Marathon Petroleum from $184.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 3rd. Piper Sandler boosted their price target on shares of Marathon Petroleum from $220.00 to $231.00 and gave the company a “neutral” rating in a research report on Friday, November 14th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Marathon Petroleum in a report on Tuesday, December 9th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Marathon Petroleum in a research note on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $203.07.

Marathon Petroleum Price Performance

MPC opened at $163.64 on Tuesday. The stock has a market capitalization of $49.19 billion, a P/E ratio of 17.45, a PEG ratio of 0.86 and a beta of 0.72. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 1.31. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $202.29. The stock has a 50-day moving average price of $187.41 and a 200-day moving average price of $180.29.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.00 by $0.01. The business had revenue of $34.81 billion during the quarter, compared to analyst estimates of $31.06 billion. Marathon Petroleum had a return on equity of 9.76% and a net margin of 2.13%. Equities analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Wednesday, November 19th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Wednesday, November 19th. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.91. Marathon Petroleum’s dividend payout ratio is 42.64%.

About Marathon Petroleum

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.