Haverford Trust Co acquired a new position in Marathon Petroleum Corporation (NYSE:MPC – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,500 shares of the oil and gas company’s stock, valued at approximately $384,000.
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 bought a new position in shares of Marathon Petroleum during the 2nd quarter valued at approximately $27,000. Navalign LLC bought a new stake in shares of Marathon Petroleum in the 4th quarter worth approximately $30,000. Kohmann Bosshard Financial Services LLC purchased a new position in Marathon Petroleum in the fourth quarter valued at approximately $31,000. Berbice Capital Management LLC grew its holdings in Marathon Petroleum by 100.0% during the fourth quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 100 shares during the period. Finally, WFA of San Diego LLC purchased a new stake in Marathon Petroleum in the second quarter worth $33,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.
Marathon Petroleum Trading Up 0.4%
NYSE:MPC opened at $362.18 on Monday. Marathon Petroleum Corporation has a 1 year low of $161.93 and a 1 year high of $367.60. The stock’s fifty day moving average price is $297.25 and its two-hundred day moving average price is $254.78. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89. The company has a market cap of $105.73 billion, a P/E ratio of 12.45, a P/E/G ratio of 0.23 and a beta of 0.52.
Marathon Petroleum Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders 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 yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 19th. Marathon Petroleum’s payout ratio is presently 13.75%.
Insider Transactions at Marathon Petroleum
In other news, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total value of $1,703,243.52. Following the completion of the transaction, the vice president directly owned 16,900 shares in the company, valued at approximately $4,543,058. This trade represents a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Shawn M. Lyon sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $350.00, for a total transaction of $875,000.00. Following the completion of the transaction, the senior vice president 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 SEC filing for this sale provides additional information. 0.17% of the stock is owned by insiders.
Analyst Ratings Changes
Several analysts have issued reports on MPC shares. Piper Sandler boosted their target price on Marathon Petroleum from $343.00 to $344.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Weiss Ratings upgraded Marathon Petroleum from a “hold (c+)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. Wells Fargo & Company lifted their price objective on Marathon Petroleum from $344.00 to $359.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Zacks Research cut Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 17th. Finally, The Goldman Sachs Group upped their price objective on shares of Marathon Petroleum from $291.00 to $376.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and an average target price of $312.50.
View Our Latest Stock Report on MPC
Marathon Petroleum 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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