Whittier Trust Co. Increases Stake in Marathon Petroleum Corporation $MPC

Whittier Trust Co. grew its stake in Marathon Petroleum Corporation (NYSE:MPC) by 14.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 9,274 shares of the oil and gas company’s stock after buying an additional 1,150 shares during the quarter. Whittier Trust Co.’s holdings in Marathon Petroleum were worth $1,541,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Activest Wealth Management boosted its stake in shares of Marathon Petroleum by 290.2% in the 2nd quarter. Activest Wealth Management now owns 160 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 119 shares during the period. CBIZ Investment Advisory Services LLC boosted its stake in shares of Marathon Petroleum by 1,546.2% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 201 shares during the period. Hughes Financial Services LLC purchased a new position in shares of Marathon Petroleum in the 1st quarter valued at about $32,000. WPG Advisers LLC purchased a new position in shares of Marathon Petroleum in the 1st quarter valued at about $32,000. Finally, Decker Retirement Planning Inc. lifted its stake in Marathon Petroleum by 1,621.4% during the first quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 227 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. BMO Capital Markets boosted their target price on Marathon Petroleum from $195.00 to $208.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Piper Sandler boosted their target price on Marathon Petroleum from $184.00 to $222.00 and gave the stock a “neutral” rating in a research note on Thursday, September 11th. Raymond James Financial restated an “outperform” rating and set a $203.00 target price (up previously from $199.00) on shares of Marathon Petroleum in a research note on Friday, October 17th. Mizuho boosted their target price on Marathon Petroleum from $184.00 to $188.00 and gave the stock a “neutral” rating in a research note on Monday, September 15th. Finally, Citigroup boosted their target price on Marathon Petroleum from $144.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.31.

Marathon Petroleum Trading Up 3.1%

MPC opened at $188.52 on Thursday. The firm has a market cap of $57.31 billion, a price-to-earnings ratio of 27.97, a price-to-earnings-growth ratio of 2.85 and a beta of 0.90. Marathon Petroleum Corporation has a 52 week low of $115.10 and a 52 week high of $201.61. The business’s 50 day moving average is $182.18 and its two-hundred day moving average is $165.87. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15.

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

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th were issued a $0.91 dividend. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.9%. Marathon Petroleum’s payout ratio is presently 54.01%.

Insider Activity

In other news, insider Molly R. Benson sold 10,879 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $163.00, for a total value of $1,773,277.00. Following the transaction, the insider owned 28,700 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. Insiders own 0.21% of the company’s stock.

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.