Marathon Petroleum Corporation $MPC Shares Purchased by Truist Financial Corp

Key Points

• Truist Financial Corp increased its stake in Marathon Petroleum Corporation by 6.6% during the 2nd quarter, owning 56,973 shares valued at $9.46 million at the end of the reporting period.
• Insider Molly R. Benson sold 10,879 shares of Marathon Petroleum at an average price of $163.00, representing a 27.49% decrease in her holdings.
• Marathon Petroleum reported earnings per share of $3.96 for the last quarter, exceeding estimates by $0.74, despite a revenue decline of 11.1% year-over-year.

Truist Financial Corp raised its position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 6.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 56,973 shares of the oil and gas company's stock after acquiring an additional 3,524 shares during the period. Truist Financial Corp's holdings in Marathon Petroleum were worth $9,464,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Baker Tilly Wealth Management LLC lifted its stake in shares of Marathon Petroleum by 2.8% in the 2nd quarter. Baker Tilly Wealth Management LLC now owns 2,226 shares of the oil and gas company's stock worth $370,000 after acquiring an additional 60 shares during the period. CHICAGO TRUST Co NA lifted its stake in shares of Marathon Petroleum by 3.9% in the 2nd quarter. CHICAGO TRUST Co NA now owns 1,684 shares of the oil and gas company's stock worth $280,000 after acquiring an additional 63 shares during the period. Sunpointe LLC lifted its stake in shares of Marathon Petroleum by 4.1% in the 2nd quarter. Sunpointe LLC now owns 1,750 shares of the oil and gas company's stock worth $291,000 after acquiring an additional 69 shares during the period. Beverly Hills Private Wealth LLC lifted its stake in shares of Marathon Petroleum by 1.3% in the 1st quarter. Beverly Hills Private Wealth LLC now owns 6,739 shares of the oil and gas company's stock worth $982,000 after acquiring an additional 84 shares during the period. Finally, Valmark Advisers Inc. lifted its stake in shares of Marathon Petroleum by 2.3% in the 1st quarter. Valmark Advisers Inc. now owns 3,801 shares of the oil and gas company's stock worth $554,000 after acquiring an additional 86 shares during the period. Institutional investors and hedge funds own 76.77% of the company's stock.

Insider Activity

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the firm's stock in a transaction dated 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 directly owned 28,700 shares of the company's stock, valued at $4,678,100. This trade represents a 27.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.21% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Wolfe Research downgraded shares of Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a report on Monday, July 14th. Weiss Ratings reiterated a "hold (c)" rating on shares of Marathon Petroleum in a report on Saturday, September 27th. Scotiabank reiterated an "outperform" rating on shares of Marathon Petroleum in a report on Friday, July 11th. Piper Sandler increased their price target on shares of Marathon Petroleum from $184.00 to $222.00 and gave the company a "neutral" rating in a report on Thursday, September 11th. Finally, Wells Fargo & Company increased their price target on shares of Marathon Petroleum from $182.00 to $205.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Eight investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, Marathon Petroleum has an average rating of "Hold" and a consensus price target of $196.29.

Marathon Petroleum Stock Performance

NYSE:MPC opened at $193.31 on Monday. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. The firm has a 50-day moving average price of $177.02 and a two-hundred day moving average price of $162.33. Marathon Petroleum Corporation has a twelve month low of $115.10 and a twelve month high of $201.61. The company has a market capitalization of $58.77 billion, a P/E ratio of 28.68, a price-to-earnings-growth ratio of 3.35 and a beta of 0.90.

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

Marathon Petroleum Announces Dividend

The company also recently declared 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. This represents a $3.64 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Wednesday, August 20th. Marathon Petroleum's dividend payout ratio (DPR) 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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