Wesbanco Bank Inc. Raises Stock Position in Marathon Petroleum Corporation $MPC

Key Points

• Wesbanco Bank Inc. increased its stake in Marathon Petroleum by 28.1%, acquiring a total of 26,964 shares valued at $4,479,000.
• Several hedge funds have also made significant investments, with 76.77% of the stock owned by institutional investors.
• Marathon Petroleum announced a quarterly dividend of $0.91 per share, representing a 2.0% dividend yield.

Wesbanco Bank Inc. raised its stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 28.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,964 shares of the oil and gas company's stock after purchasing an additional 5,922 shares during the quarter. Wesbanco Bank Inc.'s holdings in Marathon Petroleum were worth $4,479,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Fourth Dimension Wealth LLC purchased a new stake in shares of Marathon Petroleum in the 4th quarter worth about $26,000. CBIZ Investment Advisory Services LLC grew its position in Marathon Petroleum by 1,546.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company's stock valued at $31,000 after purchasing an additional 201 shares during the last quarter. Hughes Financial Services LLC purchased a new stake in Marathon Petroleum during the 1st quarter valued at about $32,000. WPG Advisers LLC bought a new position in Marathon Petroleum during the 1st quarter valued at about $32,000. Finally, Decker Retirement Planning Inc. lifted its stake in Marathon Petroleum by 1,621.4% during the 1st quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company's stock valued at $35,000 after acquiring an additional 227 shares during the period. 76.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Marathon Petroleum

In other news, Director Kim K.W. Rucker sold 7,392 shares of Marathon Petroleum stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the completion of the sale, the director directly owned 18,944 shares in the company, valued at approximately $3,315,200. This trade represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock in a transaction on Friday, August 15th. The stock was sold at an average price of $163.00, for a total value of $1,773,277.00. Following the sale, the insider owned 28,700 shares of the company's stock, valued at approximately $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MPC. TD Cowen lowered their price objective on shares of Marathon Petroleum from $190.00 to $182.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Evercore ISI started coverage on shares of Marathon Petroleum in a report on Wednesday, June 18th. They issued an "in-line" rating and a $170.00 target price for the company. Raymond James Financial increased their price objective on shares of Marathon Petroleum from $195.00 to $199.00 and gave the company an "outperform" rating in a report on Tuesday, September 9th. Dbs Bank raised shares of Marathon Petroleum to a "moderate buy" rating in a report on Monday, July 28th. Finally, Wolfe Research lowered shares of Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a report on Monday, July 14th. Eight analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $189.36.

Marathon Petroleum Trading Down 1.2%

Shares of MPC opened at $180.18 on Monday. Marathon Petroleum Corporation has a twelve month low of $115.10 and a twelve month high of $186.28. The company has a market cap of $54.78 billion, a P/E ratio of 26.73, a P/E/G ratio of 3.52 and a beta of 0.97. 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 company's fifty day simple moving average is $172.81 and its 200-day simple moving average is $157.27.

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

Marathon Petroleum Announces Dividend

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

Marathon Petroleum Company Profile

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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