Bank of New York Mellon Corp Buys 178,397 Shares of Marathon Petroleum Corporation (NYSE:MPC)

Bank of New York Mellon Corp grew its position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 3.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,982,348 shares of the oil and gas company's stock after buying an additional 178,397 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.60% of Marathon Petroleum worth $725,878,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in MPC. Fourth Dimension Wealth LLC purchased a new stake in shares of Marathon Petroleum in the fourth quarter worth approximately $26,000. Decker Retirement Planning Inc. raised its position in Marathon Petroleum by 1,621.4% during the first quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company's stock valued at $35,000 after acquiring an additional 227 shares in the last quarter. Barnes Dennig Private Wealth Management LLC bought a new position in Marathon Petroleum during the first quarter valued at approximately $35,000. OFI Invest Asset Management bought a new position in Marathon Petroleum during the fourth quarter valued at approximately $44,000. Finally, Capital A Wealth Management LLC bought a new position in Marathon Petroleum during the fourth quarter valued at approximately $52,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on MPC shares. Scotiabank cut their price objective on shares of Marathon Petroleum from $169.00 to $147.00 and set a "sector outperform" rating on the stock in a research report on Friday, April 11th. Mizuho raised their price objective on shares of Marathon Petroleum from $168.00 to $184.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. Evercore ISI assumed coverage on shares of Marathon Petroleum in a research report on Wednesday, June 18th. They set an "in-line" rating and a $170.00 price objective on the stock. Barclays lifted their price target on shares of Marathon Petroleum from $141.00 to $159.00 and gave the company an "overweight" rating in a research report on Monday, May 12th. Finally, Wells Fargo & Company lifted their price target on shares of Marathon Petroleum from $180.00 to $182.00 and gave the company an "overweight" rating in a research report on Wednesday, June 11th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $176.13.

Insider Activity

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 7,392 shares of Marathon Petroleum stock in a transaction on 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 completion of the transaction, the director directly owned 18,944 shares of the company's stock, valued at approximately $3,315,200. This trade represents a 28.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.21% of the company's stock.

Marathon Petroleum Stock Performance

MPC traded up $2.73 during trading on Tuesday, reaching $179.18. 1,078,950 shares of the company's stock were exchanged, compared to its average volume of 2,788,124. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $183.31. The company has a quick ratio of 0.73, a current ratio of 1.19 and a debt-to-equity ratio of 1.16. The business has a 50 day moving average price of $160.42 and a 200 day moving average price of $148.83. The company has a market capitalization of $55.05 billion, a P/E ratio of 25.20, a PEG ratio of 3.46 and a beta of 0.88.

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

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st were issued a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.03%. Marathon Petroleum's payout ratio is presently 51.20%.

Marathon Petroleum Company Profile

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.