Hancock Whitney Corp Has $3.31 Million Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

Hancock Whitney Corp grew its stake in Marathon Petroleum Co. (NYSE:MPC) by 0.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 20,301 shares of the oil and gas company’s stock after acquiring an additional 126 shares during the quarter. Hancock Whitney Corp’s holdings in Marathon Petroleum were worth $3,307,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Oppenheimer Asset Management Inc. grew its position in Marathon Petroleum by 27.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 43,174 shares of the oil and gas company’s stock valued at $7,033,000 after acquiring an additional 9,355 shares during the period. Founders Financial Securities LLC grew its holdings in shares of Marathon Petroleum by 22.8% during the second quarter. Founders Financial Securities LLC now owns 4,972 shares of the oil and gas company’s stock worth $863,000 after purchasing an additional 924 shares during the last quarter. Holistic Planning LLC acquired a new stake in shares of Marathon Petroleum in the third quarter valued at $912,000. Magnolia Capital Advisors LLC raised its holdings in shares of Marathon Petroleum by 353.4% in the second quarter. Magnolia Capital Advisors LLC now owns 55,989 shares of the oil and gas company’s stock valued at $9,713,000 after buying an additional 43,639 shares during the last quarter. Finally, Granite Bay Wealth Management LLC acquired a new position in Marathon Petroleum during the 2nd quarter worth about $4,075,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Stock Performance

Shares of NYSE MPC opened at $156.47 on Tuesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. The firm has a market cap of $50.29 billion, a price-to-earnings ratio of 12.40, a P/E/G ratio of 2.75 and a beta of 1.38. The stock’s fifty day moving average price is $158.69 and its two-hundred day moving average price is $167.27. Marathon Petroleum Co. has a one year low of $140.98 and a one year high of $221.11.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.90. The firm 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 company’s quarterly revenue was down 14.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $8.14 EPS. On average, equities analysts forecast that Marathon Petroleum Co. will post 9.59 EPS for the current year.

Marathon Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 2.33%. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, November 20th. Marathon Petroleum’s dividend payout ratio is presently 28.84%.

Marathon Petroleum announced that its Board of Directors has authorized a share buyback program on Tuesday, November 5th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the oil and gas company to reacquire up to 10% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

MPC has been the subject of a number of research analyst reports. BMO Capital Markets dropped their target price on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Bank of America initiated coverage on shares of Marathon Petroleum in a research report on Thursday, October 17th. They issued a “neutral” rating and a $174.00 price objective for the company. JPMorgan Chase & Co. dropped their target price on Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Piper Sandler cut their price target on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. Finally, Tudor Pickering lowered Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $185.07.

Marathon Petroleum Company Profile

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.