AMG National Trust Bank Purchases Shares of 15,584 Marathon Petroleum Corporation $MPC

Key Points

• AMG National Trust Bank acquired 15,584 Marathon Petroleum shares worth approximately $3.98 million, while institutional investors collectively own 76.77% of the company.
• Analysts maintain a positive outlook, with 12 Buy ratings and six Holds producing a consensus “Moderate Buy” rating and a $312.50 price target.
• Marathon Petroleum exceeded quarterly expectations with $17.73 in EPS and $51.99 billion in revenue, while announcing a quarterly dividend of $1.00 per share, or $4.00 annually.

AMG National Trust Bank acquired a new position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 15,584 shares of the oil and gas company's stock, valued at approximately $3,984,000.

Several other hedge funds have also modified their holdings of the company. State Street Corp lifted its position in Marathon Petroleum by 0.3% during the fourth quarter. State Street Corp now owns 17,934,327 shares of the oil and gas company's stock valued at $2,916,660,000 after purchasing an additional 47,896 shares during the last quarter. Boston Partners increased its holdings in shares of Marathon Petroleum by 2.3% in the 3rd quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company's stock worth $1,214,522,000 after buying an additional 141,691 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Marathon Petroleum in the 2nd quarter worth about $1,029,611,000. Norges Bank purchased a new stake in shares of Marathon Petroleum during the 4th quarter valued at about $472,312,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Marathon Petroleum by 0.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,818,361 shares of the oil and gas company's stock valued at $458,350,000 after acquiring an additional 11,693 shares during the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. UBS Group reiterated a "buy" rating and issued a $321.00 price target on shares of Marathon Petroleum in a research report on Friday, July 10th. Wall Street Zen raised Marathon Petroleum from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 10th. Evercore set a $330.00 target price on Marathon Petroleum in a report on Wednesday, August 5th. The Goldman Sachs Group boosted their target price on Marathon Petroleum from $291.00 to $376.00 and gave the company a "buy" rating in a research report on Wednesday, July 22nd. Finally, Morgan Stanley increased their price target on Marathon Petroleum from $233.00 to $265.00 and gave the company an "overweight" rating in a report on Friday, June 12th. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $312.50.

Insider Buying and Selling

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the company's stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total value of $1,703,243.52. Following the transaction, the vice president owned 16,900 shares of the company's stock, valued at $4,543,058. This represents a 27.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.17% of the stock is owned by company insiders.

Marathon Petroleum Stock Performance

Shares of NYSE:MPC opened at $355.61 on Monday. The company has a market capitalization 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 Corporation has a 12 month low of $160.87 and a 12 month high of $360.10. The firm's 50-day moving average is $287.31 and its 200 day moving average is $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 (NYSE:MPC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.27 by $3.46. The business had revenue of $51.99 billion during the quarter, compared to the consensus estimate of $40.87 billion. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The firm's quarterly revenue was up 53.5% compared to the same quarter last year. During the same quarter last year, the firm earned $3.96 earnings per share. Research analysts predict that Marathon Petroleum Corporation will post 46.66 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 1.1%. Marathon Petroleum's payout ratio is presently 13.75%.

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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