1ST Source Bank Takes $1.10 Million Position in Marathon Petroleum Corporation $MPC

Key Points

• 1ST Source Bank purchased 4,299 Marathon Petroleum shares in the second quarter, valued at approximately $1.10 million. Institutional investors and hedge funds collectively own 76.77% of MPC.
• Marathon Petroleum reported quarterly EPS of $17.73, beating estimates of $14.27, while revenue rose 53.5% year over year to $51.99 billion.
• MPC declared a quarterly dividend of $1.00, or $4.00 annualized, representing a 1.1% yield. Analysts maintain a “Moderate Buy” consensus, with an average price target of $312.50.

1ST Source Bank bought a new stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,299 shares of the oil and gas company's stock, valued at approximately $1,099,000.

Other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new position in shares of Marathon Petroleum in the second quarter worth about $1,029,611,000. Norges Bank purchased a new position in Marathon Petroleum during the 4th quarter worth approximately $472,312,000. Capital Wealth Planning LLC grew its position in Marathon Petroleum by 49,392.0% during the 4th quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company's stock worth $245,157,000 after purchasing an additional 1,495,097 shares in the last quarter. Pacer Advisors Inc. raised its stake in Marathon Petroleum by 3,816.8% during the 4th quarter. Pacer Advisors Inc. now owns 1,306,749 shares of the oil and gas company's stock valued at $212,517,000 after purchasing an additional 1,273,386 shares during the period. Finally, GHE LLC raised its stake in Marathon Petroleum by 1,939.8% during the 1st quarter. GHE LLC now owns 649,542 shares of the oil and gas company's stock valued at $158,605,000 after purchasing an additional 617,699 shares during the period. Institutional investors and hedge funds own 76.77% of the company's stock.

Marathon Petroleum Price Performance

MPC opened at $355.61 on Monday. The stock has a fifty day moving average price of $287.31 and a 200 day moving average price of $248.19. The company has a current ratio of 1.25, a quick ratio of 0.89 and a debt-to-equity ratio of 1.19. Marathon Petroleum Corporation has a 1 year low of $160.87 and a 1 year high of $360.10. The stock has a market cap of $103.82 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 0.23 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, topping analysts' consensus estimates of $14.27 by $3.46. The firm had revenue of $51.99 billion for the quarter, compared to the consensus estimate of $40.87 billion. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The firm's revenue was up 53.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.96 earnings per share. Analysts forecast that Marathon Petroleum Corporation will post 46.66 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

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 paid a $1.00 dividend. 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 payout ratio is presently 13.75%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Raymond James Financial raised their target price on Marathon Petroleum from $300.00 to $335.00 and gave the stock an "outperform" rating in a research report on Monday, July 13th. Citigroup increased their price objective on Marathon Petroleum from $303.00 to $318.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 5th. Jefferies Financial Group set a $335.00 price objective on Marathon Petroleum and gave the stock a "buy" rating in a research report on Sunday, July 12th. Wall Street Zen raised Marathon Petroleum from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 10th. Finally, Piper Sandler upped their target price on Marathon Petroleum from $343.00 to $344.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Marathon Petroleum presently has an average rating of "Moderate Buy" and a consensus price target of $312.50.

Insider Buying and Selling at Marathon Petroleum

In related news, VP Michael A. Henschen II sold 6,336 shares of the company's stock in a transaction on 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 of the company's stock, valued at approximately $4,543,058. This represents a 27.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.17% of the company's stock.

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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