Parkside Financial Bank & Trust Buys 672 Shares of Marathon Petroleum Corporation $MPC

Parkside Financial Bank & Trust lifted its stake in Marathon Petroleum Corporation (NYSE:MPC) by 16.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,704 shares of the oil and gas company’s stock after buying an additional 672 shares during the period. Parkside Financial Bank & Trust’s holdings in Marathon Petroleum were worth $781,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Jump Financial LLC lifted its position in shares of Marathon Petroleum by 128.0% in the 1st quarter. Jump Financial LLC now owns 8,663 shares of the oil and gas company’s stock worth $1,262,000 after purchasing an additional 4,863 shares during the period. Weatherly Asset Management L. P. bought a new position in Marathon Petroleum in the first quarter worth about $216,000. Journey Strategic Wealth LLC lifted its holdings in Marathon Petroleum by 105.0% in the first quarter. Journey Strategic Wealth LLC now owns 8,582 shares of the oil and gas company’s stock worth $1,250,000 after buying an additional 4,396 shares during the period. FSM Wealth Advisors LLC bought a new stake in Marathon Petroleum during the 2nd quarter valued at approximately $685,000. Finally, Brown Advisory Inc. boosted its position in Marathon Petroleum by 2.3% during the 1st quarter. Brown Advisory Inc. now owns 6,102 shares of the oil and gas company’s stock valued at $889,000 after acquiring an additional 137 shares in the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Morgan Stanley increased their target price on Marathon Petroleum from $182.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, October 3rd. Raymond James Financial set a $200.00 price objective on Marathon Petroleum in a report on Tuesday. Wells Fargo & Company dropped their target price on shares of Marathon Petroleum from $214.00 to $213.00 and set an “overweight” rating on the stock in a report on Wednesday. Citigroup upped their target price on shares of Marathon Petroleum from $144.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 16th. Finally, Wall Street Zen upgraded shares of Marathon Petroleum from a “hold” rating to a “buy” rating in a research note on Saturday. Eight equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $200.00.

Insider Activity at Marathon Petroleum

In other news, insider Molly R. Benson sold 10,879 shares of the stock in a transaction that occurred 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 sale, the insider owned 28,700 shares in the company, valued at $4,678,100. This represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.21% of the stock is currently owned by insiders.

Marathon Petroleum Trading Up 0.6%

NYSE MPC opened at $193.78 on Friday. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $201.61. The company has a current ratio of 1.32, a quick ratio of 0.71 and a debt-to-equity ratio of 1.31. The stock’s fifty day moving average price is $187.86 and its 200-day moving average price is $172.16. The stock has a market cap of $58.25 billion, a P/E ratio of 20.66, a P/E/G ratio of 3.80 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.00 by $0.01. The firm had revenue of $34.81 billion during the quarter, compared to analyst estimates of $31.06 billion. Marathon Petroleum had a return on equity of 9.76% and a net margin of 2.13%. As a group, equities analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 19th will be paid a $1.00 dividend. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.91. This represents a $4.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Wednesday, November 19th. Marathon Petroleum’s payout ratio is currently 38.81%.

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.