Heartland Bank & Trust Co purchased a new position in shares of Marathon Petroleum Corporation (NYSE:MPC – Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 3,551 shares of the oil and gas company’s stock, valued at approximately $908,000.
A number of other institutional investors also recently modified their holdings of MPC. MassMutual Private Wealth & Trust FSB boosted its holdings in Marathon Petroleum by 3.2% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,288 shares of the oil and gas company’s stock valued at $329,000 after acquiring an additional 40 shares in the last quarter. Equitable Trust Co. boosted its position in shares of Marathon Petroleum by 1.6% in the 1st quarter. Equitable Trust Co. now owns 2,637 shares of the oil and gas company’s stock worth $644,000 after purchasing an additional 42 shares in the last quarter. Bartlett & CO. Wealth Management LLC grew its stake in shares of Marathon Petroleum by 0.4% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 9,548 shares of the oil and gas company’s stock worth $2,411,000 after acquiring an additional 42 shares during the last quarter. Wellington Grp LLC grew its position in Marathon Petroleum by 9.6% during the 1st quarter. Wellington Grp LLC now owns 516 shares of the oil and gas company’s stock valued at $126,000 after purchasing an additional 45 shares during the last quarter. Finally, Avior Wealth Management LLC increased its position in shares of Marathon Petroleum by 2.2% during the second quarter. Avior Wealth Management LLC now owns 2,108 shares of the oil and gas company’s stock valued at $539,000 after acquiring an additional 46 shares in the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.
Marathon Petroleum Trading Up 1.1%
Shares of NYSE MPC opened at $362.18 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19. The business has a fifty day simple moving average of $297.25 and a two-hundred day simple moving average of $254.23. The firm has a market cap of $105.73 billion, a PE ratio of 12.45, a price-to-earnings-growth ratio of 0.23 and a beta of 0.52. Marathon Petroleum Corporation has a twelve month low of $161.93 and a twelve month high of $367.60.
Marathon Petroleum Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, August 19th. Marathon Petroleum’s payout ratio is presently 13.75%.
Insider Activity
In related news, SVP Shawn M. Lyon sold 2,500 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $350.00, for a total transaction of $875,000.00. Following the sale, the senior vice president directly owned 12,619 shares of the company’s stock, valued at $4,416,650. This trade represents a 16.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president directly owned 16,900 shares in the company, valued at $4,543,058. The trade was a 27.27% decrease in their position. The SEC filing for this sale provides additional information. 0.17% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the company. The Goldman Sachs Group boosted their target price on Marathon Petroleum from $291.00 to $376.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Raymond James Financial lifted their target price on Marathon Petroleum from $300.00 to $335.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Evercore set a $330.00 price target on shares of Marathon Petroleum in a research report on Wednesday, August 5th. Piper Sandler increased their target price on Marathon Petroleum from $343.00 to $344.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Finally, Bank of America boosted their price target on shares of Marathon Petroleum from $224.00 to $260.00 in a research note on Tuesday, May 26th. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and an average target price of $312.50.
View Our Latest Report on Marathon Petroleum
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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