NewEdge Wealth LLC bought a new position in shares of Marathon Petroleum Corporation (NYSE:MPC – Free Report) during the 2nd quarter, HoldingsChannel reports. The firm bought 5,470 shares of the oil and gas company’s stock, valued at approximately $1,398,000.
A number of other large investors have also recently made changes to their positions in the stock. Bell Investment Advisors Inc bought a new stake in shares of Marathon Petroleum during the 2nd quarter valued at $27,000. Main Street Group LTD bought a new position in Marathon Petroleum in the 1st quarter worth about $35,000. Cedar Mountain Advisors LLC purchased a new position in Marathon Petroleum during the 1st quarter valued at about $40,000. Navalign LLC bought a new stake in shares of Marathon Petroleum during the fourth quarter valued at about $30,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Marathon Petroleum in the fourth quarter worth about $31,000. 76.77% of the stock is owned by institutional investors.
Marathon Petroleum Stock Up 1.1%
Shares of NYSE MPC opened at $362.18 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.89 and a debt-to-equity ratio of 1.19. The business has a 50-day moving average of $297.25 and a 200-day moving average of $254.23. The firm has a market capitalization of $105.73 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 0.23 and a beta of 0.52. Marathon Petroleum Corporation has a 12 month low of $161.93 and a 12 month high of $367.60.
Marathon Petroleum Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be issued a dividend of $1.00 per share. The ex-dividend date is Wednesday, August 19th. This represents a $4.00 annualized dividend and a yield of 1.1%. Marathon Petroleum’s dividend payout ratio is currently 13.75%.
Insider Activity at Marathon Petroleum
In other news, VP Michael A. Henschen II sold 6,336 shares of the stock in a transaction dated Thursday, June 4th. The shares were 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 directly owned 16,900 shares in the company, valued at approximately $4,543,058. This represents a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Shawn M. Lyon sold 2,500 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $350.00, for a total value of $875,000.00. Following the completion of the sale, the senior vice president owned 12,619 shares of the company’s stock, valued at approximately $4,416,650. This trade represents a 16.54% decrease in their position. The SEC filing for this sale provides additional information. 0.17% of the stock is owned by company insiders.
Analyst Ratings Changes
A number of research firms have recently commented on MPC. Bank of America raised their price objective on shares of Marathon Petroleum from $224.00 to $260.00 in a research report on Tuesday, May 26th. Evercore set a $330.00 target price on shares of Marathon Petroleum in a report on Wednesday, August 5th. Piper Sandler increased their target price on shares of Marathon Petroleum from $343.00 to $344.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. TD Cowen raised their price target on shares of Marathon Petroleum from $357.00 to $375.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Finally, Weiss Ratings raised shares of Marathon Petroleum from a “hold (c+)” rating to a “buy (b)” rating in a report on Wednesday, August 5th. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Marathon Petroleum has a consensus rating of “Moderate Buy” and a consensus target price of $312.50.
Get Our Latest Research Report 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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