2,149 Shares in Marathon Petroleum Corporation (NYSE:MPC) Purchased by Heritage Trust Co

Key Points

• Heritage Trust Co acquired 2,149 shares of Marathon Petroleum Corporation worth approximately $313,000 in the first quarter, reflecting continued interest from institutional investors in the oil and gas sector.
• Analysts have upgraded Marathon Petroleum's stock with price targets raised to as high as $182.00, suggesting a positive outlook for the company's future performance.
• The company recently declared a quarterly dividend of $0.91, resulting in an annualized dividend yield of 2.2%, demonstrating a commitment to returning value to shareholders.

Heritage Trust Co acquired a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,149 shares of the oil and gas company's stock, valued at approximately $313,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MPC. Beverly Hills Private Wealth LLC raised its holdings in Marathon Petroleum by 1.2% during the 4th quarter. Beverly Hills Private Wealth LLC now owns 6,655 shares of the oil and gas company's stock valued at $928,000 after buying an additional 76 shares during the period. Sunpointe LLC increased its position in Marathon Petroleum by 5.1% during the first quarter. Sunpointe LLC now owns 1,681 shares of the oil and gas company's stock valued at $245,000 after acquiring an additional 81 shares during the last quarter. Valmark Advisers Inc. raised its stake in shares of Marathon Petroleum by 2.3% in the first quarter. Valmark Advisers Inc. now owns 3,801 shares of the oil and gas company's stock valued at $554,000 after acquiring an additional 86 shares during the period. Southland Equity Partners LLC lifted its holdings in shares of Marathon Petroleum by 6.2% in the 1st quarter. Southland Equity Partners LLC now owns 1,549 shares of the oil and gas company's stock worth $226,000 after acquiring an additional 90 shares during the last quarter. Finally, Prudent Man Advisors LLC boosted its stake in shares of Marathon Petroleum by 2.3% during the 1st quarter. Prudent Man Advisors LLC now owns 4,056 shares of the oil and gas company's stock worth $591,000 after purchasing an additional 91 shares during the period. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Marathon Petroleum

In related news, Director Kim K.W. Rucker sold 7,392 shares of the firm's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the sale, the director owned 18,944 shares of the company's stock, valued at $3,315,200. This trade represents a 28.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.25% of the company's stock.

Analyst Upgrades and Downgrades

MPC has been the topic of a number of recent analyst reports. TD Cowen increased their price objective on shares of Marathon Petroleum from $152.00 to $163.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Piper Sandler raised their price target on Marathon Petroleum from $175.00 to $182.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Wall Street Zen raised Marathon Petroleum from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Morgan Stanley upped their price objective on Marathon Petroleum from $160.00 to $182.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Finally, Dbs Bank upgraded Marathon Petroleum to a "moderate buy" rating in a research report on Monday, July 28th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $183.93.

Marathon Petroleum Stock Down 2.8%

Shares of Marathon Petroleum stock opened at $165.47 on Monday. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $183.10. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.19 and a quick ratio of 0.73. The stock has a market cap of $50.83 billion, a price-to-earnings ratio of 23.27, a PEG ratio of 2.83 and a beta of 0.90. The firm's 50-day moving average is $168.81 and its two-hundred day moving average is $153.29.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.40) by $0.16. The firm had revenue of $31.85 billion for the quarter, compared to the consensus estimate of $28.91 billion. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. The company's quarterly revenue was down 4.1% on a year-over-year basis. During the same period last year, the firm earned $2.58 earnings per share. As a group, research analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, August 20th. Marathon Petroleum's payout ratio is presently 51.20%.

About Marathon Petroleum

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.

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