Trust Co. of Virginia VA Decreases Holdings in Marathon Petroleum Corp (MPC)

Trust Co. of Virginia VA cut its stake in Marathon Petroleum Corp (NYSE:MPC) by 87.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,254 shares of the oil and gas company’s stock after selling 95,105 shares during the quarter. Trust Co. of Virginia VA’s holdings in Marathon Petroleum were worth $1,000,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of MPC. Advisors Preferred LLC purchased a new stake in shares of Marathon Petroleum in the 1st quarter worth about $101,000. Bruderman Asset Management LLC purchased a new stake in shares of Marathon Petroleum in the 1st quarter worth about $102,000. Bedel Financial Consulting Inc. purchased a new stake in shares of Marathon Petroleum in the 1st quarter worth about $106,000. Legacy Financial Advisors Inc. purchased a new stake in shares of Marathon Petroleum in the 2nd quarter worth about $113,000. Finally, Northwest Wealth Management LLC purchased a new stake in shares of Marathon Petroleum in the 2nd quarter worth about $116,000. Institutional investors and hedge funds own 81.25% of the company’s stock.

In related news, insider Thomas M. Kelley sold 24,818 shares of the stock in a transaction dated Wednesday, May 30th. The shares were sold at an average price of $79.47, for a total transaction of $1,972,286.46. Following the sale, the insider now directly owns 51,869 shares of the company’s stock, valued at approximately $4,122,029.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.09% of the company’s stock.

A number of analysts have recently weighed in on the stock. Mizuho assumed coverage on shares of Marathon Petroleum in a research report on Wednesday, August 1st. They issued a “buy” rating and a $95.00 target price on the stock. JPMorgan Chase & Co. upped their target price on shares of Marathon Petroleum from $98.00 to $102.00 and gave the stock an “overweight” rating in a research report on Friday, July 27th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $87.00 target price on shares of Marathon Petroleum in a research report on Friday, July 27th. Zacks Investment Research downgraded shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Monday, July 16th. Finally, ValuEngine downgraded shares of Marathon Petroleum from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 6th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $85.00.

Shares of MPC stock opened at $80.11 on Wednesday. Marathon Petroleum Corp has a one year low of $49.30 and a one year high of $83.33. The stock has a market cap of $36.50 billion, a P/E ratio of 21.08, a PEG ratio of 1.34 and a beta of 1.40. The company has a current ratio of 1.60, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Thursday, July 26th. The oil and gas company reported $2.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.98 by $0.29. Marathon Petroleum had a net margin of 4.89% and a return on equity of 12.83%. The company had revenue of $22.45 billion for the quarter, compared to the consensus estimate of $22.14 billion. During the same period in the prior year, the firm posted $0.93 EPS. Marathon Petroleum’s revenue for the quarter was up 22.3% on a year-over-year basis. analysts forecast that Marathon Petroleum Corp will post 5.12 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 10th. Investors of record on Thursday, August 16th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Wednesday, August 15th. Marathon Petroleum’s dividend payout ratio (DPR) is 48.42%.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.

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

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