Silver Oak Securities Incorporated Purchases New Holdings in Marathon Petroleum Corporation (NYSE:MPC)

Silver Oak Securities Incorporated bought a new position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,355 shares of the oil and gas company's stock, valued at approximately $339,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Greatmark Investment Partners Inc. raised its position in Marathon Petroleum by 3.5% in the fourth quarter. Greatmark Investment Partners Inc. now owns 161,171 shares of the oil and gas company's stock worth $22,483,000 after acquiring an additional 5,476 shares during the period. TCTC Holdings LLC raised its position in shares of Marathon Petroleum by 3.3% during the 4th quarter. TCTC Holdings LLC now owns 91,256 shares of the oil and gas company's stock valued at $12,730,000 after purchasing an additional 2,892 shares during the period. Cambridge Financial Group Inc. bought a new stake in shares of Marathon Petroleum during the 4th quarter valued at $5,624,000. Good Steward Wealth Advisors LLC bought a new stake in shares of Marathon Petroleum during the 1st quarter valued at $346,000. Finally, New Age Alpha Advisors LLC bought a new stake in shares of Marathon Petroleum during the 4th quarter valued at $1,192,000. Institutional investors own 76.77% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Evercore ISI assumed coverage on shares of Marathon Petroleum in a research report on Wednesday, June 18th. They set an "in-line" rating and a $170.00 price objective on the stock. Scotiabank decreased their price objective on shares of Marathon Petroleum from $169.00 to $147.00 and set a "sector outperform" rating on the stock in a research report on Friday, April 11th. Raymond James Financial restated a "strong-buy" rating on shares of Marathon Petroleum in a research report on Monday, June 30th. Morgan Stanley decreased their price objective on shares of Marathon Petroleum from $175.00 to $160.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Finally, TD Cowen raised their price objective on shares of Marathon Petroleum from $152.00 to $163.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Marathon Petroleum has a consensus rating of "Moderate Buy" and an average price target of $176.13.

Insider Buying and Selling at Marathon Petroleum

In related news, Director Kim K.W. Rucker sold 7,392 shares of the company's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the transaction, the director directly owned 18,944 shares in the company, valued at approximately $3,315,200. This represents a 28.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.25% of the stock is currently owned by company insiders.

Marathon Petroleum Price Performance

Shares of Marathon Petroleum stock traded up $0.39 during trading hours on Monday, reaching $176.44. The company's stock had a trading volume of 1,692,260 shares, compared to its average volume of 2,708,906. The firm has a 50 day moving average price of $159.64 and a 200-day moving average price of $148.53. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $183.31. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.19 and a quick ratio of 0.73. The stock has a market cap of $54.20 billion, a P/E ratio of 24.82, a P/E/G ratio of 3.46 and a beta of 0.88.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, topping analysts' consensus estimates of ($0.40) by $0.16. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. The firm had revenue of $31.85 billion for the quarter, compared to the consensus estimate of $28.91 billion. During the same period in the previous year, the firm posted $2.58 EPS. The business's quarterly revenue was down 4.1% on a year-over-year basis. On average, analysts predict 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 Tuesday, June 10th. Stockholders of record on Wednesday, May 21st were issued a $0.91 dividend. The ex-dividend date was Wednesday, May 21st. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.06%. Marathon Petroleum's dividend payout ratio (DPR) is presently 51.20%.

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.