WASHINGTON TRUST Co Has $310,000 Stock Position in Marathon Petroleum Co. (NYSE:MPC)

WASHINGTON TRUST Co reduced its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 10.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,225 shares of the oil and gas company’s stock after selling 250 shares during the period. WASHINGTON TRUST Co’s holdings in Marathon Petroleum were worth $310,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Valeo Financial Advisors LLC increased its holdings in Marathon Petroleum by 3.2% during the 4th quarter. Valeo Financial Advisors LLC now owns 9,399 shares of the oil and gas company’s stock worth $1,311,000 after purchasing an additional 292 shares in the last quarter. AustralianSuper Pty Ltd increased its holdings in Marathon Petroleum by 1.9% during the 4th quarter. AustralianSuper Pty Ltd now owns 918,361 shares of the oil and gas company’s stock worth $128,111,000 after purchasing an additional 16,825 shares in the last quarter. Asset Planning Inc bought a new stake in Marathon Petroleum during the 4th quarter worth approximately $28,000. V Square Quantitative Management LLC increased its holdings in Marathon Petroleum by 6.0% during the 4th quarter. V Square Quantitative Management LLC now owns 5,521 shares of the oil and gas company’s stock worth $770,000 after purchasing an additional 313 shares in the last quarter. Finally, DT Investment Partners LLC increased its holdings in Marathon Petroleum by 21.5% during the 4th quarter. DT Investment Partners LLC now owns 395 shares of the oil and gas company’s stock worth $55,000 after purchasing an additional 70 shares in the last quarter. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Trading Up 1.3 %

NYSE:MPC opened at $156.11 on Friday. The company has a market cap of $50.17 billion, a P/E ratio of 15.72, a P/E/G ratio of 2.91 and a beta of 1.41. The stock’s fifty day moving average price is $146.00 and its two-hundred day moving average price is $157.08. Marathon Petroleum Co. has a 1 year low of $130.54 and a 1 year high of $221.11. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.71. The firm had revenue of $33.47 billion for the quarter, compared to the consensus estimate of $31.94 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The business’s quarterly revenue was down 9.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.98 earnings per share. As a group, analysts expect that Marathon Petroleum Co. will post 8.7 EPS for the current year.

Marathon Petroleum announced that its Board of Directors has initiated a share buyback program on Tuesday, November 5th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to buy up to 10% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Wednesday, February 19th will be given a dividend of $0.91 per share. The ex-dividend date is Wednesday, February 19th. This represents a $3.64 annualized dividend and a dividend yield of 2.33%. Marathon Petroleum’s dividend payout ratio is currently 36.66%.

Insiders Place Their Bets

In other Marathon Petroleum news, Director Jeffrey C. Campbell acquired 6,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were bought at an average price of $149.61 per share, for a total transaction of $897,660.00. Following the completion of the transaction, the director now owns 6,090 shares of the company’s stock, valued at approximately $911,124.90. This represents a 6,666.67 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. TD Cowen reissued a “buy” rating and set a $170.00 price objective on shares of Marathon Petroleum in a report on Tuesday, December 10th. Mizuho reduced their target price on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Tudor Pickering raised Marathon Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 4th. Raymond James upped their target price on Marathon Petroleum from $190.00 to $192.00 and gave the company a “strong-buy” rating in a report on Friday, January 17th. Finally, Wells Fargo & Company upped their target price on Marathon Petroleum from $182.00 to $183.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $181.27.

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.