Heartland Bank & Trust Co Purchases 1,377 Shares of Marathon Petroleum Corporation $MPC

Heartland Bank & Trust Co increased its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 64.1% during the 2nd quarter, Holdings Channel reports. The firm owned 3,526 shares of the oil and gas company’s stock after acquiring an additional 1,377 shares during the period. Heartland Bank & Trust Co’s holdings in Marathon Petroleum were worth $586,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Baker Tilly Wealth Management LLC raised its position in shares of Marathon Petroleum by 2.8% during the 2nd quarter. Baker Tilly Wealth Management LLC now owns 2,226 shares of the oil and gas company’s stock valued at $370,000 after purchasing an additional 60 shares during the period. CHICAGO TRUST Co NA increased its holdings in Marathon Petroleum by 3.9% in the 2nd quarter. CHICAGO TRUST Co NA now owns 1,684 shares of the oil and gas company’s stock valued at $280,000 after acquiring an additional 63 shares during the last quarter. Sunpointe LLC increased its holdings in Marathon Petroleum by 4.1% in the 2nd quarter. Sunpointe LLC now owns 1,750 shares of the oil and gas company’s stock valued at $291,000 after acquiring an additional 69 shares during the last quarter. Beverly Hills Private Wealth LLC increased its holdings in Marathon Petroleum by 1.3% in the 1st quarter. Beverly Hills Private Wealth LLC now owns 6,739 shares of the oil and gas company’s stock valued at $982,000 after acquiring an additional 84 shares during the last quarter. Finally, Valmark Advisers Inc. increased its holdings in Marathon Petroleum by 2.3% in the 1st quarter. Valmark Advisers Inc. now owns 3,801 shares of the oil and gas company’s stock valued at $554,000 after acquiring an additional 86 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors.

Insider Transactions at Marathon Petroleum

In related news, insider Molly R. Benson sold 10,879 shares of the business’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the completion of the transaction, the insider directly owned 28,700 shares in the company, valued at $4,678,100. The trade was a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.25% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have issued reports on MPC shares. Wolfe Research downgraded shares of Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a report on Monday, July 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Marathon Petroleum in a report on Wednesday, October 8th. Piper Sandler lifted their price target on shares of Marathon Petroleum from $184.00 to $222.00 and gave the company a “neutral” rating in a report on Thursday, September 11th. UBS Group lifted their price objective on shares of Marathon Petroleum from $203.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. Finally, Dbs Bank raised shares of Marathon Petroleum to a “moderate buy” rating in a research note on Monday, July 28th. Eight analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $199.31.

Marathon Petroleum Stock Up 1.4%

Shares of NYSE:MPC opened at $183.36 on Tuesday. The firm has a market capitalization of $55.75 billion, a PE ratio of 27.20, a price-to-earnings-growth ratio of 3.04 and a beta of 0.90. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $201.61. The business has a 50 day simple moving average of $179.03 and a two-hundred day simple moving average of $163.99.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.74. The company had revenue of $34.10 billion during the quarter, compared to analysts’ expectations of $31.70 billion. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The firm’s quarterly revenue was down 11.1% on a year-over-year basis. During the same period in the previous year, the company earned $4.12 EPS. On average, equities analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th were issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Wednesday, August 20th. Marathon Petroleum’s dividend payout ratio (DPR) is 54.01%.

Marathon Petroleum 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.