Bank of Montreal Can Sells 96,219 Shares of Marathon Petroleum Co. (NYSE:MPC)

Bank of Montreal Can decreased its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 9.5% during the second quarter, HoldingsChannel reports. The fund owned 914,054 shares of the oil and gas company’s stock after selling 96,219 shares during the quarter. Bank of Montreal Can’s holdings in Marathon Petroleum were worth $160,234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in MPC. FinTrust Capital Advisors LLC raised its stake in shares of Marathon Petroleum by 400.0% during the 1st quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 100 shares during the period. Crewe Advisors LLC purchased a new position in Marathon Petroleum during the 1st quarter valued at about $29,000. ICA Group Wealth Management LLC bought a new stake in shares of Marathon Petroleum during the fourth quarter valued at 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 purchased a new position in Marathon Petroleum during the second quarter valued at approximately $35,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

MPC stock opened at $164.21 on Tuesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 1.31. The firm has a market cap of $57.86 billion, a P/E ratio of 8.20, a P/E/G ratio of 2.09 and a beta of 1.38. The firm’s fifty day moving average is $169.94 and its 200 day moving average is $179.73. Marathon Petroleum Co. has a 52 week low of $139.32 and a 52 week high of $221.11.

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

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were paid a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend was Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio (DPR) is presently 16.48%.

Analyst Ratings Changes

Several research firms have issued reports on MPC. Morgan Stanley lowered their target price on shares of Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Barclays dropped their price objective on Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating for the company in a research note on Monday, July 1st. Tudor Pickering lowered Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, September 9th. Jefferies Financial Group lifted their price target on Marathon Petroleum from $222.00 to $231.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Finally, Tudor, Pickering, Holt & Co. cut shares of Marathon Petroleum from a “buy” rating to a “sell” rating in a research report on Monday, September 9th. Two investment 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 company. Based on data from MarketBeat, Marathon Petroleum presently has an average rating of “Hold” and an average price target of $197.69.

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.