Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Coastline Trust Co

Coastline Trust Co lessened its position in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 36.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,354 shares of the oil and gas company's stock after selling 3,571 shares during the period. Coastline Trust Co's holdings in Marathon Petroleum were worth $1,035,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of MPC. International Assets Investment Management LLC increased its stake in shares of Marathon Petroleum by 19,153.8% during the 3rd quarter. International Assets Investment Management LLC now owns 1,311,182 shares of the oil and gas company's stock valued at $213,605,000 after acquiring an additional 1,304,372 shares during the last quarter. Granite Bay Wealth Management LLC acquired a new position in Marathon Petroleum during the second quarter worth approximately $219,537,000. ING Groep NV purchased a new position in Marathon Petroleum during the third quarter worth approximately $114,107,000. Assenagon Asset Management S.A. boosted its holdings in shares of Marathon Petroleum by 980.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 684,718 shares of the oil and gas company's stock valued at $118,785,000 after purchasing an additional 621,336 shares during the last quarter. Finally, Panagora Asset Management Inc. grew its stake in shares of Marathon Petroleum by 64.1% during the 2nd quarter. Panagora Asset Management Inc. now owns 619,049 shares of the oil and gas company's stock valued at $107,393,000 after buying an additional 241,746 shares during the period. Institutional investors and hedge funds own 76.77% of the company's stock.

Analysts Set New Price Targets

MPC has been the topic of several research reports. Morgan Stanley cut their target price on Marathon Petroleum from $196.00 to $182.00 and set an "overweight" rating on the stock in a research report on Monday, September 16th. Bank of America assumed coverage on Marathon Petroleum in a research note on Thursday, October 17th. They issued a "neutral" rating and a $174.00 price objective on the stock. Citigroup dropped their target price on shares of Marathon Petroleum from $172.00 to $167.00 and set a "neutral" rating for the company in a research report on Thursday, October 10th. Mizuho reduced their price target on shares of Marathon Petroleum from $198.00 to $193.00 and set a "neutral" rating on the stock in a research report on Monday, September 16th. Finally, Tudor Pickering downgraded shares of Marathon Petroleum from a "strong-buy" rating to a "strong sell" rating in a research note on Monday, September 9th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $185.07.

Marathon Petroleum Stock Down 0.4 %

Shares of NYSE:MPC traded down $0.62 during trading on Friday, hitting $157.52. The company's stock had a trading volume of 2,258,883 shares, compared to its average volume of 2,653,613. Marathon Petroleum Co. has a fifty-two week low of $140.98 and a fifty-two week high of $221.11. The stock's 50-day moving average price is $159.06 and its two-hundred day moving average price is $168.43. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. The company has a market capitalization of $50.63 billion, a PE ratio of 12.48, a PEG ratio of 2.82 and a beta of 1.38.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 EPS for the quarter, beating the consensus estimate of $0.97 by $0.90. The company 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 business's revenue was down 14.9% on a year-over-year basis. During the same period in the prior year, the business posted $8.14 EPS. As a group, sell-side analysts expect that Marathon Petroleum Co. will post 9.41 EPS for the current year.

Marathon Petroleum announced that its Board of Directors has authorized a stock 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 repurchase up to 10% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Marathon Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.91 per share. This is a boost from Marathon Petroleum's previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, November 20th. This represents a $3.64 annualized dividend and a dividend yield of 2.31%. Marathon Petroleum's dividend payout ratio (DPR) is presently 28.84%.

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.