Glenview Trust Co bought a new position in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,188 shares of the oil and gas company's stock, valued at approximately $1,326,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Marathon Petroleum during the 2nd quarter valued at about $6,648,958,000. Bank of New York Mellon Corp bought a new position in shares of Marathon Petroleum in the second quarter valued at about $1,029,611,000. Norges Bank acquired a new position in shares of Marathon Petroleum during the fourth quarter worth approximately $472,312,000. Bank of America Corp DE bought a new position in Marathon Petroleum in the 2nd quarter valued at $621,832,000. Finally, Capital Wealth Planning LLC boosted its holdings in Marathon Petroleum by 49,392.0% in the fourth quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company's stock valued at $245,157,000 after acquiring an additional 1,495,097 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors.
Marathon Petroleum Price Performance
Shares of NYSE MPC opened at $369.00 on Friday. Marathon Petroleum Corporation has a twelve month low of $161.93 and a twelve month high of $369.12. The company has a market cap of $107.73 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 0.24 and a beta of 0.52. The business's 50 day moving average price is $308.87 and its two-hundred day moving average price is $260.20. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19.
Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, beating analysts' consensus estimates of $14.27 by $3.46. The business had revenue of $51.99 billion for the quarter, compared to analysts' expectations of $40.87 billion. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The firm's revenue for the quarter was up 53.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.96 EPS. On average, analysts predict that Marathon Petroleum Corporation will post 46.66 EPS for the current year.
Marathon Petroleum Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.1%. Marathon Petroleum's dividend payout ratio (DPR) is currently 13.75%.
Insider Activity at Marathon Petroleum
In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the business's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $268.82, for a total value 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Shawn M. Lyon sold 2,500 shares of the business's stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $350.00, for a total value of $875,000.00. Following the completion of the transaction, the senior vice president directly owned 12,619 shares of the company's stock, valued at approximately $4,416,650. This trade represents a 16.54% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 26,032 shares of company stock worth $8,744,213. Corporate insiders own 0.17% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on MPC. Jefferies Financial Group set a $335.00 price target on shares of Marathon Petroleum and gave the stock a "buy" rating in a research note on Sunday, July 12th. Wall Street Zen raised Marathon Petroleum from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 10th. The Goldman Sachs Group lifted their price objective on Marathon Petroleum from $291.00 to $376.00 and gave the stock a "buy" rating in a research note on Wednesday, July 22nd. Mizuho increased their target price on Marathon Petroleum from $284.00 to $304.00 and gave the company a "neutral" rating in a research note on Tuesday, August 11th. Finally, Bank of America increased their price target on shares of Marathon Petroleum from $224.00 to $260.00 in a research report on Tuesday, May 26th. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $312.50.
Check Out Our Latest Stock Report on Marathon Petroleum
Marathon Petroleum Company Profile
(
Free Report)
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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