M&T Bank Corp Has $4.97 Million Stock Position in Marathon Petroleum Co. (NYSE:MPC)

M&T Bank Corp lessened its holdings in Marathon Petroleum Co. (NYSE:MPC) by 4.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,510 shares of the oil and gas company’s stock after selling 1,708 shares during the period. M&T Bank Corp’s holdings in Marathon Petroleum were worth $4,971,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Marino Stram & Associates LLC raised its holdings in Marathon Petroleum by 0.5% during the fourth quarter. Marino Stram & Associates LLC now owns 11,424 shares of the oil and gas company’s stock valued at $1,695,000 after buying an additional 60 shares in the last quarter. SteelPeak Wealth LLC lifted its stake in shares of Marathon Petroleum by 0.3% in the fourth quarter. SteelPeak Wealth LLC now owns 20,408 shares of the oil and gas company’s stock worth $3,028,000 after buying an additional 67 shares during the last quarter. Aaron Wealth Advisors LLC grew its stake in Marathon Petroleum by 4.5% in the 4th quarter. Aaron Wealth Advisors LLC now owns 1,559 shares of the oil and gas company’s stock valued at $231,000 after buying an additional 67 shares during the last quarter. Mission Wealth Management LP raised its holdings in Marathon Petroleum by 0.8% in the 4th quarter. Mission Wealth Management LP now owns 8,756 shares of the oil and gas company’s stock worth $1,299,000 after acquiring an additional 67 shares during the period. Finally, Empower Advisory Group LLC boosted its holdings in Marathon Petroleum by 1.6% during the third quarter. Empower Advisory Group LLC now owns 4,465 shares of the oil and gas company’s stock valued at $676,000 after acquiring an additional 72 shares during the period. 76.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on MPC shares. Wells Fargo & Company upped their price target on Marathon Petroleum from $214.00 to $227.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Raymond James upped their price target on Marathon Petroleum from $175.00 to $185.00 and gave the company a “strong-buy” rating in a report on Wednesday, January 31st. The Goldman Sachs Group boosted their price objective on Marathon Petroleum from $175.00 to $211.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. StockNews.com raised Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 1st. Finally, Bank of America lifted their target price on shares of Marathon Petroleum from $185.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Marathon Petroleum currently has an average rating of “Moderate Buy” and a consensus price target of $191.62.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 1,000 shares of Marathon Petroleum stock in a transaction on Friday, March 1st. The shares were sold at an average price of $170.35, for a total transaction of $170,350.00. Following the completion of the sale, the director now owns 23,446 shares of the company’s stock, valued at approximately $3,994,026.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.21% of the stock is currently owned by company insiders.

Marathon Petroleum Trading Up 0.1 %

Shares of NYSE MPC opened at $182.78 on Tuesday. The company has a current ratio of 1.43, a quick ratio of 0.99 and a debt-to-equity ratio of 0.85. The company has a market cap of $64.40 billion, a PE ratio of 9.13, a P/E/G ratio of 1.52 and a beta of 1.55. The company has a 50-day moving average of $194.38 and a two-hundred day moving average of $168.51. Marathon Petroleum Co. has a 1-year low of $104.32 and a 1-year high of $221.11.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.25. The company had revenue of $32.71 billion during the quarter, compared to the consensus estimate of $32.07 billion. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The firm’s quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.09 earnings per share. As a group, equities analysts expect that Marathon Petroleum Co. will post 19.96 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 16th will be paid a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date is Wednesday, May 15th. Marathon Petroleum’s dividend payout ratio (DPR) is 16.48%.

Marathon Petroleum announced that its board has initiated a share repurchase program on Tuesday, April 30th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the oil and gas company to repurchase up to 7.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

About Marathon Petroleum

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.