US Bancorp DE Has $330.56 Million Stock Position in Marathon Petroleum Co. (NYSE:MPC)

US Bancorp DE cut its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 12.5% in the fourth quarter, Holdings Channel reports. The firm owned 2,228,106 shares of the oil and gas company’s stock after selling 317,193 shares during the period. US Bancorp DE’s holdings in Marathon Petroleum were worth $330,562,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Marathon Petroleum in the fourth quarter worth about $25,000. Manchester Capital Management LLC raised its stake in shares of Marathon Petroleum by 97.2% in the 4th quarter. Manchester Capital Management LLC now owns 215 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 106 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new stake in Marathon Petroleum in the 4th quarter worth approximately $32,000. Bare Financial Services Inc acquired a new position in Marathon Petroleum during the fourth quarter valued at approximately $32,000. Finally, Pittenger & Anderson Inc. bought a new position in shares of Marathon Petroleum in the fourth quarter valued at approximately $36,000. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

NYSE MPC traded up $0.11 during trading on Thursday, reaching $176.13. 1,011,267 shares of the company traded hands, compared to its average volume of 2,707,297. The stock’s 50 day moving average price is $194.73 and its two-hundred day moving average price is $170.71. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.99 and a current ratio of 1.43. The company has a market cap of $62.06 billion, a price-to-earnings ratio of 8.79, a P/E/G ratio of 1.48 and a beta of 1.55. Marathon Petroleum Co. has a 1-year low of $104.32 and a 1-year high of $221.11.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.25. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The firm had revenue of $32.71 billion for the quarter, compared to analysts’ expectations of $32.07 billion. During the same period in the prior year, the firm earned $6.09 earnings per share. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. As a group, analysts anticipate that Marathon Petroleum Co. will post 19.88 EPS for the current 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 issued a $0.825 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.87%. Marathon Petroleum’s dividend payout ratio is 16.48%.

Marathon Petroleum declared that its board has initiated a stock repurchase plan on Tuesday, April 30th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to reacquire up to 7.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Citigroup initiated coverage on shares of Marathon Petroleum in a research note on Wednesday, January 24th. They issued a “neutral” rating on the stock. Bank of America increased their target price on Marathon Petroleum from $185.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Raymond James upped their price target on Marathon Petroleum from $175.00 to $185.00 and gave the stock a “strong-buy” rating in a report on Wednesday, January 31st. JPMorgan Chase & Co. boosted their target price on shares of Marathon Petroleum from $172.00 to $186.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. Finally, Piper Sandler decreased their price target on shares of Marathon Petroleum from $204.00 to $190.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 14th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Marathon Petroleum has a consensus rating of “Moderate Buy” and an average target price of $190.77.

Insider Buying and Selling

In other news, Director Kim K.W. Rucker sold 1,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 23,446 shares in the company, valued at $3,994,026.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is owned by corporate insiders.

Marathon Petroleum Company 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.