First American Bank Has $5.30 Million Stock Holdings in Marathon Petroleum Corporation $MPC

Key Points

• First American Bank increased its holdings in Marathon Petroleum by 4.4%, bringing its total shares to 31,888, valued at approximately $5.30 million.
• Despite a decrease in quarterly revenue, Marathon Petroleum reported strong earnings, with $3.96 earnings per share, exceeding analyst expectations of $3.22.
• An average rating of "Moderate Buy" has been assigned to Marathon Petroleum by analysts, with a current average target price of $193.71.

First American Bank raised its position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 4.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,888 shares of the oil and gas company's stock after buying an additional 1,347 shares during the quarter. First American Bank's holdings in Marathon Petroleum were worth $5,297,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Marathon Petroleum by 12.3% in the first quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company's stock valued at $5,090,611,000 after buying an additional 3,834,501 shares in the last quarter. Boston Partners lifted its position in shares of Marathon Petroleum by 58.5% during the 1st quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company's stock valued at $791,274,000 after acquiring an additional 2,011,810 shares during the period. Wellington Management Group LLP lifted its position in shares of Marathon Petroleum by 18.7% during the 1st quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company's stock valued at $1,722,664,000 after acquiring an additional 1,862,674 shares during the period. GAMMA Investing LLC lifted its position in shares of Marathon Petroleum by 14,969.1% during the 1st quarter. GAMMA Investing LLC now owns 1,540,963 shares of the oil and gas company's stock valued at $224,503,000 after acquiring an additional 1,530,737 shares during the period. Finally, Nuveen LLC acquired a new stake in Marathon Petroleum during the first quarter worth about $147,122,000. 76.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MPC has been the topic of a number of analyst reports. Dbs Bank upgraded shares of Marathon Petroleum to a "moderate buy" rating in a research note on Monday, July 28th. Scotiabank reissued an "outperform" rating on shares of Marathon Petroleum in a research note on Friday, July 11th. Wolfe Research cut Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a report on Monday, July 14th. Barclays boosted their price target on Marathon Petroleum from $159.00 to $189.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Finally, Mizuho boosted their price target on Marathon Petroleum from $184.00 to $188.00 and gave the stock a "neutral" rating in a report on Monday, September 15th. Eight equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $193.71.

Insider Activity at Marathon Petroleum

In other news, Director Kim K.W. Rucker sold 7,392 shares of the firm's stock in a transaction on Thursday, July 3rd. The shares were 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $163.00, for a total value of $1,773,277.00. Following the transaction, the insider directly owned 28,700 shares in the company, valued at $4,678,100. The trade was a 27.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company's stock.

Marathon Petroleum Trading Up 1.2%

Shares of MPC stock opened at $198.85 on Friday. The firm has a market capitalization of $60.45 billion, a P/E ratio of 29.50, a P/E/G ratio of 3.41 and a beta of 0.97. Marathon Petroleum Corporation has a twelve month low of $115.10 and a twelve month high of $201.61. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. The stock's fifty day simple moving average is $175.09 and its 200 day simple moving average is $160.37.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share for the quarter, topping analysts' consensus estimates of $3.22 by $0.74. The business had revenue of $34.10 billion for the quarter, compared to analyst estimates of $31.70 billion. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.Marathon Petroleum's quarterly revenue was down 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.12 EPS. As a group, sell-side analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th were paid a $0.91 dividend. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $3.64 annualized dividend and a dividend yield of 1.8%. Marathon Petroleum's dividend payout ratio is currently 54.01%.

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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