Central Pacific Bank Trust Division Has $103,000 Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

Central Pacific Bank Trust Division increased its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 27.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 635 shares of the oil and gas company’s stock after acquiring an additional 135 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Marathon Petroleum were worth $103,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Granite Bay Wealth Management LLC acquired a new position in shares of Marathon Petroleum in the 2nd quarter worth approximately $219,537,000. Capital Wealth Planning LLC lifted its position in shares of Marathon Petroleum by 10,902.9% during the 1st quarter. Capital Wealth Planning LLC now owns 1,110,630 shares of the oil and gas company’s stock valued at $223,792,000 after acquiring an additional 1,100,536 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Marathon Petroleum by 980.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 684,718 shares of the oil and gas company’s stock valued at $118,785,000 after acquiring an additional 621,336 shares during the period. Schroder Investment Management Group lifted its position in shares of Marathon Petroleum by 309.9% during the 4th quarter. Schroder Investment Management Group now owns 643,590 shares of the oil and gas company’s stock valued at $95,483,000 after acquiring an additional 486,573 shares during the period. Finally, Panagora Asset Management Inc. increased its stake in Marathon Petroleum by 64.1% during the 2nd quarter. Panagora Asset Management Inc. now owns 619,049 shares of the oil and gas company’s stock valued at $107,393,000 after purchasing an additional 241,746 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Stock Performance

NYSE MPC traded down $2.86 during trading on Friday, hitting $171.98. 2,241,691 shares of the company’s stock traded hands, compared to its average volume of 2,697,056. The stock has a market capitalization of $60.59 billion, a price-to-earnings ratio of 8.59, a PEG ratio of 2.59 and a beta of 1.37. Marathon Petroleum Co. has a 12-month low of $139.93 and a 12-month high of $221.11. 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 business has a 50 day moving average of $169.69 and a 200-day moving average of $178.52.

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, beating analysts’ consensus estimates of $3.09 by $1.03. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The company had revenue of $38.36 billion during the quarter, compared to analyst estimates of $36.66 billion. During the same period last year, the business earned $5.32 earnings per share. Marathon Petroleum’s revenue was up 4.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Marathon Petroleum Co. will post 10.56 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were given a $0.825 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.92%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 16.48%.

Wall Street Analyst Weigh In

MPC has been the subject of a number of recent research reports. Jefferies Financial Group boosted their price target on shares of Marathon Petroleum from $222.00 to $231.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Wells Fargo & Company decreased their price target on shares of Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Morgan Stanley decreased their price target on shares of Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Wolfe Research assumed coverage on shares of Marathon Petroleum in a research note on Thursday, July 18th. They issued an “outperform” rating and a $200.00 target price for the company. Finally, Scotiabank reduced their target price 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. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $196.14.

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.