TIAA Trust National Association Sells 99 Shares of Marathon Petroleum Co. (NYSE:MPC)

TIAA Trust National Association cut its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 0.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,701 shares of the oil and gas company’s stock after selling 99 shares during the quarter. TIAA Trust National Association’s holdings in Marathon Petroleum were worth $1,856,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MPC. Fisher Asset Management LLC increased its stake in shares of Marathon Petroleum by 23.1% in the fourth quarter. Fisher Asset Management LLC now owns 7,469 shares of the oil and gas company’s stock worth $1,108,000 after purchasing an additional 1,404 shares in the last quarter. Private Advisor Group LLC increased its stake in Marathon Petroleum by 5.3% in the 4th quarter. Private Advisor Group LLC now owns 51,695 shares of the oil and gas company’s stock worth $7,670,000 after buying an additional 2,583 shares in the last quarter. Apollon Wealth Management LLC raised its holdings in Marathon Petroleum by 50.0% during the fourth quarter. Apollon Wealth Management LLC now owns 12,120 shares of the oil and gas company’s stock valued at $1,798,000 after acquiring an additional 4,038 shares during the period. Simmons Bank lifted its position in shares of Marathon Petroleum by 3.9% in the fourth quarter. Simmons Bank now owns 5,494 shares of the oil and gas company’s stock valued at $815,000 after acquiring an additional 205 shares in the last quarter. Finally, Gryphon Financial Partners LLC grew its position in shares of Marathon Petroleum by 81.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 4,226 shares of the oil and gas company’s stock worth $627,000 after purchasing an additional 1,895 shares in the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Price Performance

Marathon Petroleum stock opened at $171.75 on Thursday. The firm has a market capitalization of $60.51 billion, a PE ratio of 8.58, a price-to-earnings-growth ratio of 2.33 and a beta of 1.40. Marathon Petroleum Co. has a 12-month low of $139.32 and a 12-month high of $221.11. The firm has a 50-day moving average price of $171.45 and a 200-day moving average price of $180.32. The company has a current ratio of 1.31, a quick ratio of 0.90 and a debt-to-equity ratio of 0.86.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, beating 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 business had revenue of $38.36 billion during the quarter, compared to analyst estimates of $36.66 billion. During the same quarter in the previous year, the business earned $5.32 earnings per share. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, equities research analysts forecast that Marathon Petroleum Co. will post 12.68 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be given a dividend of $0.825 per share. The ex-dividend date is Wednesday, August 21st. This represents a $3.30 annualized dividend and a dividend yield of 1.92%. Marathon Petroleum’s dividend payout ratio (DPR) is 16.48%.

Analyst Ratings Changes

MPC has been the subject of several recent analyst reports. Jefferies Financial Group upped their price target on Marathon Petroleum from $222.00 to $231.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Barclays cut their target price on shares of Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating for the company in a research note on Monday, July 1st. StockNews.com downgraded shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a report on Friday, June 14th. JPMorgan Chase & Co. cut their price objective 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. Finally, Raymond James decreased their target price on Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating on the stock in a research report on Thursday, May 30th. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Marathon Petroleum has a consensus rating of “Moderate Buy” and a consensus target price of $198.38.

Marathon Petroleum 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.