PNC Financial Services Group Inc. Trims Stock Position in Marathon Petroleum Corporation $MPC

PNC Financial Services Group Inc. trimmed its stake in shares of Marathon Petroleum Corporation (NYSE:MPC — Free Report) by 2.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 339,570 shares of the oil and gas company’s stock after selling 8,063 shares during the period. PNC Financial Services Group Inc. owned about 0.11% of Marathon Petroleum worth $65,449,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of MPC. Vanguard Group Inc. increased its holdings in Marathon Petroleum by 11.2% in the 2nd quarter. Vanguard Group Inc. now owns 38,866,104 shares of the oil and gas company’s stock worth $6,456,049,000 after acquiring an additional 3,924,713 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Marathon Petroleum by 14.8% during the second quarter. Geode Capital Management LLC now owns 8,013,213 shares of the oil and gas company’s stock worth $1,325,598,000 after purchasing an additional 1,033,645 shares in the last quarter. Boston Partners raised its position in shares of Marathon Petroleum by 13.1% during the 2nd quarter. Boston Partners now owns 6,163,737 shares of the oil and gas company’s stock worth $1,024,395,000 after purchasing an additional 715,223 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Marathon Petroleum by 12.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,619,398 shares of the oil and gas company’s stock valued at $933,438,000 after buying an additional 637,050 shares in the last quarter. Finally, Norges Bank acquired a new stake in Marathon Petroleum in the 2nd quarter worth about $527,197,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Barclays decreased their price target on shares of Marathon Petroleum from $202.00 to $194.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 13th. Raymond James Financial raised their target price on shares of Marathon Petroleum from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Wall Street Zen lowered Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Piper Sandler cut their price target on Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. Finally, TD Cowen boosted their price objective on Marathon Petroleum from $183.00 to $198.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Ten investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, Marathon Petroleum presently has an average rating of “Moderate Buy” and an average target price of $202.19.

Check Out Our Latest Stock Report on Marathon Petroleum

Marathon Petroleum Stock Performance

NYSE MPC opened at $203.33 on Tuesday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.32 and a quick ratio of 0.79. The company has a market cap of $61.12 billion, a P/E ratio of 15.23, a P/E/G ratio of 1.32 and a beta of 0.74. The stock has a 50-day moving average of $179.12 and a two-hundred day moving average of $182.49. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $210.32.

Marathon Petroleum (NYSE:MPC — Get Free Report) last released its earnings results on Tuesday, February 3rd. The oil and gas company reported $4.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.73 by $0.34. The company had revenue of $35.10 billion for the quarter, compared to analyst estimates of $30.89 billion. Marathon Petroleum had a net margin of 2.99% and a return on equity of 14.00%. The firm’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the prior year, the business earned $0.77 EPS. As a group, analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 18th will be issued a $1.00 dividend. The ex-dividend date is Wednesday, February 18th. This represents a $4.00 annualized dividend and a dividend yield of 2.0%. Marathon Petroleum’s dividend payout ratio is presently 29.96%.

About Marathon Petroleum

(Free Report)

Marathon Petroleum Corporation NYSE: MPC is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.

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