Central Pacific Bank Trust Division Purchases Shares of 500 Marathon Petroleum Co. (NYSE:MPC)

Central Pacific Bank Trust Division purchased a new stake in shares of Marathon Petroleum Co. (NYSE:MPCFree Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 500 shares of the oil and gas company’s stock, valued at approximately $102,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Integrated Advisors Network LLC acquired a new stake in shares of Marathon Petroleum during the 3rd quarter valued at $237,000. EP Wealth Advisors LLC lifted its position in shares of Marathon Petroleum by 605.5% during the 3rd quarter. EP Wealth Advisors LLC now owns 17,079 shares of the oil and gas company’s stock valued at $2,585,000 after acquiring an additional 14,658 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Marathon Petroleum by 13.2% during the 3rd quarter. American Century Companies Inc. now owns 637,218 shares of the oil and gas company’s stock valued at $96,437,000 after acquiring an additional 74,389 shares during the last quarter. Financial Insights Inc. acquired a new stake in shares of Marathon Petroleum during the 3rd quarter valued at $1,058,000. Finally, Sunbelt Securities Inc. lifted its position in shares of Marathon Petroleum by 10.5% during the 3rd quarter. Sunbelt Securities Inc. now owns 17,180 shares of the oil and gas company’s stock valued at $2,600,000 after acquiring an additional 1,631 shares during the last quarter. 76.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MPC has been the subject of a number of research analyst reports. Barclays reduced their target price on Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating for the company in a report on Monday, July 1st. Tudor Pickering upgraded Marathon Petroleum to a “strong-buy” rating in a report on Thursday, May 30th. Wells Fargo & Company cut their price objective on Marathon Petroleum from $227.00 to $223.00 and set an “overweight” rating for the company in a report on Thursday, June 6th. 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 report on Tuesday, July 2nd. Finally, The Goldman Sachs Group increased their price objective on Marathon Petroleum from $175.00 to $211.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Six analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and an average target price of $191.31.

View Our Latest Research Report on MPC

Marathon Petroleum Trading Down 0.4 %

Shares of NYSE:MPC opened at $162.20 on Thursday. The company has a market cap of $57.15 billion, a P/E ratio of 8.10, a P/E/G ratio of 1.65 and a beta of 1.40. The stock’s 50-day moving average is $174.83 and its 200-day moving average is $176.83. Marathon Petroleum Co. has a 52-week low of $117.28 and a 52-week high of $221.11. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.99 and a current ratio of 1.43.

Marathon Petroleum (NYSE:MPCGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.25. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The company had revenue of $32.71 billion for the quarter, compared to the consensus estimate of $32.07 billion. During the same period last year, the business posted $6.09 earnings per share. The firm’s revenue was down 6.2% compared to the same quarter last year. Equities research analysts predict that Marathon Petroleum Co. will post 16.9 earnings per share for the current year.

Marathon Petroleum announced that its board has authorized a share repurchase program on Tuesday, April 30th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to repurchase up to 7.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Thursday, May 16th were given a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend was Wednesday, May 15th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 16.48%.

Marathon Petroleum Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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