Cullen Frost Bankers Inc. lowered its stake in shares of Marathon Petroleum Corp (NYSE:MPC) by 45.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,932 shares of the oil and gas company’s stock after selling 19,263 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Marathon Petroleum were worth $1,393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Fulcrum Capital LLC purchased a new stake in shares of Marathon Petroleum during the third quarter worth $6,313,000. Venturi Wealth Management LLC purchased a new stake in shares of Marathon Petroleum during the third quarter worth approximately $25,000. Mechanics Bank Trust Department purchased a new position in Marathon Petroleum in the third quarter valued at approximately $29,000. Old North State Trust LLC increased its stake in Marathon Petroleum by 209.1% in the third quarter. Old North State Trust LLC now owns 476 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 322 shares during the last quarter. Finally, Endurance Wealth Management Inc. increased its stake in Marathon Petroleum by 365.4% in the third quarter. Endurance Wealth Management Inc. now owns 484 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 380 shares during the last quarter. Institutional investors own 76.62% of the company’s stock.
Shares of NYSE MPC traded down $0.13 during trading on Friday, reaching $66.12. The stock had a trading volume of 133,313 shares, compared to its average volume of 6,600,017. Marathon Petroleum Corp has a one year low of $43.96 and a one year high of $69.76. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.63 and a current ratio of 1.25. The stock has a market cap of $43.14 billion, a PE ratio of 9.74, a P/E/G ratio of 1.58 and a beta of 1.70. The firm’s 50 day moving average price is $62.84 and its two-hundred day moving average price is $54.95.
Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Thursday, October 31st. The oil and gas company reported $1.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.33. Marathon Petroleum had a return on equity of 8.94% and a net margin of 2.50%. The business had revenue of $31.20 billion during the quarter, compared to the consensus estimate of $32.89 billion. During the same period in the previous year, the business earned $1.70 EPS. The business’s quarterly revenue was up 34.9% on a year-over-year basis. On average, research analysts expect that Marathon Petroleum Corp will post 4.21 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be issued a $0.53 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.21%. Marathon Petroleum’s dividend payout ratio (DPR) is 31.27%.
MPC has been the topic of several recent analyst reports. Cowen increased their price target on shares of Marathon Petroleum from $57.00 to $60.00 and gave the company a “market perform” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. decreased their price target on Marathon Petroleum from $74.00 to $62.00 and set an “overweight” rating for the company in a report on Tuesday, September 10th. Morgan Stanley raised their target price on Marathon Petroleum from $70.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Mizuho set a $90.00 price objective on Marathon Petroleum and gave the stock a “buy” rating in a research report on Thursday, September 26th. Finally, Wells Fargo & Co lifted their price target on Marathon Petroleum from $75.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $73.38.
Marathon Petroleum Company Profile
Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing; Retail; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals and trucks that the company owns or operates.
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