First Nebraska Trust Co Takes $4.41 Million Position in Marathon Petroleum Corporation $MPC

Key Points

• First Nebraska Trust Co acquired 18,069 Marathon Petroleum shares worth approximately $4.41 million, while institutional investors collectively own 76.77% of MPC.
• Analysts remain broadly positive, with 11 Buy ratings and seven Holds; MPC has a consensus “Moderate Buy” rating and an average price target of $298.69.
• Marathon Petroleum exceeded first-quarter earnings expectations, reporting $1.65 in EPS versus $0.74 forecast and $34.20 billion in revenue. The company also declared a quarterly dividend of $1.00 per share, yielding about 1.3% annually.

First Nebraska Trust Co purchased a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 18,069 shares of the oil and gas company's stock, valued at approximately $4,412,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MPC. Navalign LLC bought a new stake in shares of Marathon Petroleum in the 4th quarter worth $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in Marathon Petroleum in the 4th quarter worth about $31,000. Berbice Capital Management LLC raised its position in Marathon Petroleum by 100.0% in the 4th quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company's stock worth $33,000 after buying an additional 100 shares during the last quarter. WFA of San Diego LLC purchased a new position in Marathon Petroleum in the 2nd quarter worth about $33,000. Finally, Ares Financial Consulting LLC bought a new position in Marathon Petroleum during the 4th quarter valued at about $34,000. 76.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MPC shares. JPMorgan Chase & Co. raised their price target on shares of Marathon Petroleum from $235.00 to $257.00 in a report on Wednesday, May 6th. Morgan Stanley increased their price objective on shares of Marathon Petroleum from $233.00 to $265.00 and gave the company an "overweight" rating in a research report on Friday, June 12th. Piper Sandler restated an "overweight" rating and issued a $343.00 target price on shares of Marathon Petroleum in a report on Thursday, July 23rd. Barclays lifted their target price on shares of Marathon Petroleum from $270.00 to $289.00 and gave the stock an "overweight" rating in a research report on Monday, July 13th. Finally, Weiss Ratings upgraded shares of Marathon Petroleum from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, July 6th. Eleven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $298.69.

Marathon Petroleum Price Performance

NYSE MPC opened at $316.25 on Friday. The company has a 50-day moving average price of $274.13 and a 200-day moving average price of $237.42. Marathon Petroleum Corporation has a 52 week low of $158.00 and a 52 week high of $326.92. The company has a quick ratio of 0.73, a current ratio of 1.18 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $92.33 billion, a P/E ratio of 20.64, a PEG ratio of 0.20 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.91. The company had revenue of $34.20 billion for the quarter, compared to the consensus estimate of $33.42 billion. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The firm's revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.24) earnings per share. Equities research analysts anticipate that Marathon Petroleum Corporation will post 43.19 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Wednesday, August 19th. Marathon Petroleum's dividend payout ratio (DPR) is currently 26.11%.

Insider Buying and Selling at Marathon Petroleum

In other news, VP Michael A. Henschen II sold 6,336 shares of the business'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 owned 16,900 shares of the company's stock, valued at $4,543,058. The trade was a 27.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.17% of the stock is owned by corporate insiders.

About Marathon Petroleum

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.