Amalgamated Bank Sells 4,925 Shares of Marathon Petroleum Co. (NYSE:MPC)

Amalgamated Bank trimmed its holdings in Marathon Petroleum Co. (NYSE:MPC) by 6.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 71,043 shares of the oil and gas company’s stock after selling 4,925 shares during the quarter. Amalgamated Bank’s holdings in Marathon Petroleum were worth $12,325,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. FinTrust Capital Advisors LLC grew its stake in Marathon Petroleum by 400.0% during the first quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 100 shares in the last quarter. Crewe Advisors LLC purchased a new position in shares of Marathon Petroleum during the first quarter valued at about $29,000. ICA Group Wealth Management LLC bought a new stake in shares of Marathon Petroleum in the fourth quarter worth about $30,000. Vima LLC purchased a new stake in shares of Marathon Petroleum in the fourth quarter worth about $30,000. Finally, TruNorth Capital Management LLC bought a new position in Marathon Petroleum during the second quarter valued at approximately $35,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Trading Up 0.5 %

MPC opened at $164.67 on Thursday. Marathon Petroleum Co. has a 52 week low of $139.32 and a 52 week high of $221.11. The company has a market capitalization of $58.02 billion, a P/E ratio of 8.23, a PEG ratio of 2.09 and a beta of 1.38. The stock’s fifty day moving average is $169.97 and its two-hundred day moving average is $179.93. The company has a quick ratio of 0.90, a current ratio of 1.31 and a debt-to-equity ratio of 0.86.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $1.03. The company had revenue of $38.36 billion during the quarter, compared to analyst estimates of $36.66 billion. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.32 earnings per share. Analysts forecast that Marathon Petroleum Co. will post 12.68 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were issued a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend was Wednesday, August 21st. Marathon Petroleum’s payout ratio is 16.48%.

Wall Street Analyst Weigh In

MPC has been the topic of a number of research reports. Wolfe Research began coverage on Marathon Petroleum in a research note on Thursday, July 18th. They issued an “outperform” rating and a $200.00 price objective on the stock. Barclays decreased their price target on shares of Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating on the stock in a research note on Monday, July 1st. Scotiabank dropped their price objective on shares of Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. StockNews.com cut shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. Finally, JPMorgan Chase & Co. dropped their price target on Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating for the company in a research report on Tuesday, July 2nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $199.46.

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.