1,043 Shares in Marathon Petroleum Co. (NYSE:MPC) Bought by Amarillo National Bank

Amarillo National Bank purchased a new stake in shares of Marathon Petroleum Co. (NYSE:MPC) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,043 shares of the oil and gas company’s stock, valued at approximately $210,000.

Several other large investors have also made changes to their positions in the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Marathon Petroleum during the fourth quarter valued at $25,000. ICA Group Wealth Management LLC purchased a new stake in shares of Marathon Petroleum during the 4th quarter valued at about $30,000. Vima LLC bought a new position in shares of Marathon Petroleum in the 4th quarter valued at about $30,000. Bruce G. Allen Investments LLC purchased a new position in Marathon Petroleum in the fourth quarter worth about $32,000. Finally, Bare Financial Services Inc acquired a new position in shares of Marathon Petroleum during the fourth quarter valued at about $32,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Trading Up 0.5 %

NYSE:MPC traded up $0.85 during trading hours on Thursday, hitting $174.99. The company had a trading volume of 1,344,597 shares, compared to its average volume of 2,601,003. Marathon Petroleum Co. has a 1 year low of $112.82 and a 1 year high of $221.11. The company has a current ratio of 1.43, a quick ratio of 0.99 and a debt-to-equity ratio of 0.85. The company has a 50-day moving average of $177.24 and a 200 day moving average of $176.30. The company has a market cap of $61.65 billion, a P/E ratio of 8.74, a P/E/G ratio of 1.63 and a beta of 1.40.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.25. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The firm had revenue of $32.71 billion during the quarter, compared to analyst estimates of $32.07 billion. During the same quarter in the prior year, the firm posted $6.09 earnings per share. Marathon Petroleum’s quarterly revenue was down 6.2% on a year-over-year basis. Sell-side analysts expect that Marathon Petroleum Co. will post 17.85 earnings per share for the current year.

Marathon Petroleum announced that its Board of Directors has initiated a stock buyback program on Tuesday, April 30th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to buy up to 7.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Thursday, May 16th were given a $0.825 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $3.30 dividend on an annualized basis and a yield of 1.89%. Marathon Petroleum’s payout ratio is currently 16.48%.

Wall Street Analyst Weigh In

Several analysts have weighed in on MPC shares. Bank of America boosted their target price on shares of Marathon Petroleum from $185.00 to $230.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Barclays cut their target price on Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating on the stock in a research report on Monday. Tudor Pickering upgraded Marathon Petroleum to a “strong-buy” rating in a research note 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 on the stock in a report on Thursday, June 6th. Finally, Mizuho dropped their target price on Marathon Petroleum from $203.00 to $201.00 and set a “neutral” rating on the stock in a research report on Thursday, June 20th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Marathon Petroleum presently has an average rating of “Moderate Buy” and a consensus price target of $191.31.

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.