First Nebraska Trust Co acquired a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 18,039 shares of the oil and gas company’s stock, valued at approximately $4,612,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MPC. Bell Investment Advisors Inc purchased a new position in Marathon Petroleum in the 2nd quarter valued at about $27,000. Navalign LLC purchased a new stake in shares of Marathon Petroleum during the fourth quarter worth about $30,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Marathon Petroleum in the fourth quarter valued at approximately $31,000. Berbice Capital Management LLC raised its position in shares of Marathon Petroleum by 100.0% in the fourth quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock valued at $33,000 after buying an additional 100 shares during the last quarter. Finally, WFA of San Diego LLC purchased a new position in shares of Marathon Petroleum during the second quarter valued at approximately $33,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.
Marathon Petroleum Price Performance
MPC opened at $362.18 on Friday. Marathon Petroleum Corporation has a 1 year low of $161.93 and a 1 year high of $367.60. The company’s 50 day simple moving average is $297.25 and its 200 day simple moving average is $254.23. The stock has a market capitalization of $105.73 billion, a PE ratio of 12.45, a P/E/G ratio of 0.23 and a beta of 0.52. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.89 and a current ratio of 1.25.
Marathon Petroleum Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio is presently 13.75%.
Insider Buying and Selling at Marathon Petroleum
In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the business’s stock in a transaction dated 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 completion of the sale, the vice president owned 16,900 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Shawn M. Lyon sold 2,500 shares of the company’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $350.00, for a total value of $875,000.00. Following the sale, the senior vice president owned 12,619 shares of the company’s stock, valued at $4,416,650. This represents a 16.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.17% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages recently issued reports on MPC. Piper Sandler raised their target price on shares of Marathon Petroleum from $343.00 to $344.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. The Goldman Sachs Group boosted their price target on Marathon Petroleum from $291.00 to $376.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Mizuho increased their price target on Marathon Petroleum from $284.00 to $304.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Jefferies Financial Group set a $335.00 price objective on Marathon Petroleum and gave the stock a “buy” rating in a report on Sunday, July 12th. Finally, Evercore set a $330.00 target price on Marathon Petroleum in a research note on Wednesday, August 5th. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $312.50.
View Our Latest Stock Analysis on MPC
About Marathon Petroleum
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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