Chevy Chase Trust Holdings LLC Has $34.06 Million Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

Chevy Chase Trust Holdings LLC cut its stake in Marathon Petroleum Co. (NYSE:MPC) by 5.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 196,322 shares of the oil and gas company’s stock after selling 11,469 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Marathon Petroleum were worth $34,058,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Marathon Petroleum in the 4th quarter valued at about $25,000. FinTrust Capital Advisors LLC grew its stake in shares of Marathon Petroleum by 400.0% during the first quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock worth $25,000 after buying an additional 100 shares during the last quarter. Crewe Advisors LLC acquired a new position in Marathon Petroleum in the 1st quarter worth about $29,000. ICA Group Wealth Management LLC bought a new position in Marathon Petroleum in the 4th quarter valued at approximately $30,000. Finally, Vima LLC bought a new stake in shares of Marathon Petroleum in the fourth quarter worth $30,000. 76.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on MPC. Barclays dropped their price target on Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating on the stock in a research note on Monday, July 1st. JPMorgan Chase & Co. reduced their target price on shares of Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. TD Cowen increased their price target on Marathon Petroleum from $187.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Wolfe Research assumed coverage on shares of Marathon Petroleum in a research note on Thursday, July 18th. They set an “outperform” rating and a $200.00 price target for the company. Finally, Wells Fargo & Company reduced their target price on shares of Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $198.38.

Marathon Petroleum Price Performance

Shares of MPC stock traded up $0.90 during mid-day trading on Wednesday, hitting $172.51. The company had a trading volume of 669,723 shares, compared to its average volume of 2,627,781. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.43 and a quick ratio of 0.99. Marathon Petroleum Co. has a 52-week low of $139.32 and a 52-week high of $221.11. The stock’s 50 day moving average price is $171.31 and its 200-day moving average price is $180.14. The company has a market capitalization of $60.78 billion, a P/E ratio of 8.67, a P/E/G ratio of 2.09 and a beta of 1.40.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, beating the consensus estimate of $3.09 by $1.03. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The company had revenue of $38.36 billion for the quarter, compared to the consensus estimate of $36.66 billion. During the same quarter in the prior year, the company posted $5.32 EPS. Marathon Petroleum’s quarterly revenue was up 4.2% on a year-over-year basis. Equities research analysts forecast that Marathon Petroleum Co. will post 13.84 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be given a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 1.91%. The ex-dividend date is Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio is currently 16.48%.

Marathon Petroleum announced that its board has approved a stock repurchase program on Tuesday, April 30th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to purchase up to 7.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

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.