Trustmark National Bank Trust Department Has $1.39 Million Stake in Marathon Petroleum Co. (NYSE:MPC)

Trustmark National Bank Trust Department trimmed its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 3.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,518 shares of the oil and gas company’s stock after selling 268 shares during the period. Trustmark National Bank Trust Department’s holdings in Marathon Petroleum were worth $1,388,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Crewe Advisors LLC acquired a new stake in shares of Marathon Petroleum in the 1st quarter valued at $29,000. Gladius Capital Management LP acquired a new stake in shares of Marathon Petroleum during the third quarter worth $26,000. MeadowBrook Investment Advisors LLC lifted its holdings in Marathon Petroleum by 88.9% during the third quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 80 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in Marathon Petroleum during the third quarter worth about $30,000. Finally, Wellington Shields & Co. LLC bought a new stake in shares of Marathon Petroleum in the first quarter valued at about $40,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on MPC. Wells Fargo & Company cut their price target on Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. BMO Capital Markets lowered their target price on Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. TD Cowen lowered their target price on Marathon Petroleum from $174.00 to $170.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Bank of America assumed coverage on Marathon Petroleum in a research report on Thursday, October 17th. They issued a “neutral” rating and a $174.00 target price on the stock. Finally, Citigroup lowered their target price on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. Two research 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $185.07.

Marathon Petroleum Trading Up 0.1 %

Shares of MPC stock opened at $159.49 on Friday. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. The stock has a market cap of $51.26 billion, a P/E ratio of 12.64, a price-to-earnings-growth ratio of 2.76 and a beta of 1.38. The stock has a 50 day simple moving average of $158.88 and a 200 day simple moving average of $167.81. Marathon Petroleum Co. has a 1 year low of $140.98 and a 1 year high of $221.11.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.90. The business had revenue of $35.37 billion during the quarter, compared to analysts’ expectations of $34.34 billion. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The firm’s revenue for the quarter was down 14.9% compared to the same quarter last year. During the same period in the previous year, the company posted $8.14 earnings per share. On average, research analysts predict that Marathon Petroleum Co. will post 9.59 earnings per share for the current fiscal year.

Marathon Petroleum declared that its Board of Directors has approved a share buyback plan on Tuesday, November 5th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the oil and gas company to purchase up to 10% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Marathon Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be paid a dividend of $0.91 per share. The ex-dividend date is Wednesday, November 20th. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. This represents a $3.64 annualized dividend and a yield of 2.28%. Marathon Petroleum’s dividend payout ratio is presently 26.15%.

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.