Heartland Bank & Trust Co Invests $908,000 in Marathon Petroleum Corporation $MPC

Key Points

• Heartland Bank & Trust Co. purchased 3,551 Marathon Petroleum shares worth approximately $908,000 in the second quarter. Institutional investors and hedge funds collectively own 76.77% of MPC.
• Analysts maintain a favorable outlook, with a consensus “Moderate Buy” rating and an average price target of $312.50; recent targets range as high as $375.
• Marathon Petroleum reported quarterly EPS of $17.73, surpassing estimates by $3.46, while revenue rose 53.5% year over year to $51.99 billion. The company also declared a $1.00 quarterly dividend, equivalent to a 1.1% annualized yield.

Heartland Bank & Trust Co purchased a new stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,551 shares of the oil and gas company's stock, valued at approximately $908,000.

Several other institutional investors have also made changes to their positions in the business. BlackRock Inc. acquired a new position in Marathon Petroleum during the second quarter worth $6,648,958,000. State Street Corp grew its stake in shares of 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 raised its position in shares of Marathon Petroleum by 2.3% during the third quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company's stock worth $1,214,522,000 after acquiring an additional 141,691 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Marathon Petroleum in the 2nd quarter valued at about $1,029,611,000. Finally, Norges Bank acquired a new stake in Marathon Petroleum during the 4th quarter worth $472,312,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. UBS Group reaffirmed a "buy" rating and issued a $321.00 price target on shares of Marathon Petroleum in a research note on Friday, July 10th. Wells Fargo & Company increased their price objective on Marathon Petroleum from $344.00 to $359.00 and gave the stock an "overweight" rating in a report on Wednesday, August 5th. Citigroup boosted their price target on shares of Marathon Petroleum from $303.00 to $318.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 5th. Barclays increased their price objective on Marathon Petroleum from $289.00 to $321.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. Finally, TD Cowen boosted their price target on Marathon Petroleum from $357.00 to $375.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Twelve research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $312.50.

Marathon Petroleum Trading Up 1.1%

Shares of MPC stock opened at $362.18 on Friday. 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 Corporation has a 1-year low of $161.93 and a 1-year high of $367.60. The stock has a 50-day moving average of $297.25 and a 200-day moving average of $254.23. The stock has a market cap of $105.73 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 0.23 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, beating the consensus estimate of $14.27 by $3.46. The company had revenue of $51.99 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.96 EPS. On average, equities research analysts forecast that Marathon Petroleum Corporation will post 46.66 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 19th. Marathon Petroleum's payout ratio is currently 13.75%.

Insider Transactions at Marathon Petroleum

In related news, VP Michael A. Henschen II sold 6,336 shares of the stock in a transaction dated 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 transaction, the vice president owned 16,900 shares in the company, valued at approximately $4,543,058. This represents a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Shawn M. Lyon sold 2,500 shares of the firm's stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $350.00, for a total value of $875,000.00. Following the completion of the sale, the senior vice president directly owned 12,619 shares of the company's stock, valued at $4,416,650. This represents a 16.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.17% of the company's stock.

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.

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