Heartland Bank & Trust Co Purchases 1,377 Shares of Marathon Petroleum Corporation $MPC

Key Points

• Heartland Bank & Trust Co increased its stake in Marathon Petroleum by 64.1% during the second quarter, now holding a total of 3,526 shares valued at $586,000.
• Marathon Petroleum's recent quarterly earnings surpassed expectations, reporting $3.96 earnings per share, comparing favorably to analyst forecasts of $3.22.
• The company has a dividend yield of 2.0%, with a recent quarterly payout of $0.91 per share and a dividend payout ratio of 54.01%.

Heartland Bank & Trust Co grew its position in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 64.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,526 shares of the oil and gas company's stock after buying an additional 1,377 shares during the quarter. Heartland Bank & Trust Co's holdings in Marathon Petroleum were worth $586,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of MPC. Brighton Jones LLC raised its holdings in shares of Marathon Petroleum by 30.9% in the 4th quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company's stock worth $696,000 after purchasing an additional 1,178 shares during the period. GAMMA Investing LLC raised its holdings in shares of Marathon Petroleum by 3.4% in the 1st quarter. GAMMA Investing LLC now owns 10,577 shares of the oil and gas company's stock worth $1,541,000 after purchasing an additional 351 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Marathon Petroleum by 2.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 110,599 shares of the oil and gas company's stock worth $16,113,000 after purchasing an additional 2,539 shares during the period. Brown Miller Wealth Management LLC bought a new stake in shares of Marathon Petroleum in the 1st quarter worth approximately $382,000. Finally, Northstar Group Inc. bought a new stake in shares of Marathon Petroleum in the 1st quarter worth approximately $221,000. Institutional investors own 76.77% of the company's stock.

Insider Activity at Marathon Petroleum

In other news, insider Molly R. Benson sold 10,879 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the sale, the insider owned 28,700 shares in the company, valued at $4,678,100. This represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.25% of the stock is currently owned by insiders.

Marathon Petroleum Stock Performance

Shares of NYSE:MPC opened at $183.36 on Tuesday. The company has a market cap of $55.75 billion, a price-to-earnings ratio of 27.20, a price-to-earnings-growth ratio of 3.04 and a beta of 0.90. The company has a 50-day moving average price of $179.03 and a 200-day moving average price of $163.99. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $201.61.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.22 by $0.74. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The company had revenue of $34.10 billion during the quarter, compared to the consensus estimate of $31.70 billion. During the same period in the prior year, the firm earned $4.12 earnings per share. Marathon Petroleum's revenue was down 11.1% on a year-over-year basis. As a group, equities analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were paid a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.0%. Marathon Petroleum's dividend payout ratio (DPR) is currently 54.01%.

Analyst Ratings Changes

MPC has been the subject of a number of recent research reports. Scotiabank reiterated an "outperform" rating on shares of Marathon Petroleum in a research note on Thursday. Mizuho lifted their price objective on shares of Marathon Petroleum from $184.00 to $188.00 and gave the company a "neutral" rating in a research note on Monday, September 15th. Evercore ISI lifted their price objective on shares of Marathon Petroleum from $170.00 to $210.00 and gave the company an "in-line" rating in a research note on Friday, September 19th. BMO Capital Markets lifted their price objective on shares of Marathon Petroleum from $195.00 to $208.00 and gave the company an "outperform" rating in a research note on Monday, September 22nd. Finally, Citigroup upped their price target on shares of Marathon Petroleum from $144.00 to $182.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Eight research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $199.31.

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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