Trust Co. of Oklahoma bought a new stake in Marathon Petroleum Corporation (NYSE:MPC – Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,062 shares of the oil and gas company’s stock, valued at approximately $503,000.
Several other hedge funds also recently made changes to their positions in the company. Diversified Trust Co. raised its position in Marathon Petroleum by 39.3% in the 4th quarter. Diversified Trust Co. now owns 15,675 shares of the oil and gas company’s stock worth $2,549,000 after buying an additional 4,419 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of Marathon Petroleum during the 3rd quarter valued at about $1,004,000. North Dakota State Investment Board bought a new stake in shares of Marathon Petroleum in the fourth quarter worth approximately $1,714,000. USA Financial Formulas bought a new stake in shares of Marathon Petroleum in the fourth quarter worth approximately $791,000. Finally, KBC Group NV raised its holdings in shares of Marathon Petroleum by 22.4% during the fourth quarter. KBC Group NV now owns 225,837 shares of the oil and gas company’s stock valued at $36,728,000 after purchasing an additional 41,259 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors.
Marathon Petroleum Stock Performance
Shares of NYSE MPC opened at $246.42 on Thursday. Marathon Petroleum Corporation has a 12-month low of $158.00 and a 12-month high of $272.46. The firm has a market capitalization of $71.94 billion, a price-to-earnings ratio of 16.08, a price-to-earnings-growth ratio of 0.38 and a beta of 0.52. The company has a current ratio of 1.18, a quick ratio of 0.73 and a debt-to-equity ratio of 1.31. The firm has a 50 day moving average of $246.61 and a 200 day moving average of $215.65.
Marathon Petroleum Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Wednesday, May 20th. Marathon Petroleum’s dividend payout ratio (DPR) is currently 26.11%.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on MPC. Barclays increased their price objective on shares of Marathon Petroleum from $230.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Piper Sandler boosted their target price on shares of Marathon Petroleum from $197.00 to $228.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. The Goldman Sachs Group increased their price target on Marathon Petroleum from $264.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, May 7th. JPMorgan Chase & Co. raised their price target on Marathon Petroleum from $235.00 to $257.00 in a research note on Wednesday, May 6th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Marathon Petroleum in a report on Friday, June 12th. Ten equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $272.94.
Read Our Latest Analysis on Marathon Petroleum
Insiders Place Their Bets
In related news, VP Michael A. Henschen II sold 6,336 shares of Marathon Petroleum stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the transaction, the vice president directly owned 16,900 shares in the company, valued at approximately $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.17% of the company’s stock.
Marathon Petroleum Company Profile
Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.
Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.
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