Whittier Trust Co. of Nevada Inc. Increases Stock Position in Marathon Petroleum Corporation (NYSE:MPC)

Whittier Trust Co. of Nevada Inc. grew its position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 26.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,545 shares of the oil and gas company's stock after purchasing an additional 4,259 shares during the quarter. Whittier Trust Co. of Nevada Inc.'s holdings in Marathon Petroleum were worth $2,993,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Beverly Hills Private Wealth LLC raised its holdings in shares of Marathon Petroleum by 1.2% in the 4th quarter. Beverly Hills Private Wealth LLC now owns 6,655 shares of the oil and gas company's stock valued at $928,000 after purchasing an additional 76 shares in the last quarter. Valmark Advisers Inc. raised its stake in Marathon Petroleum by 2.3% during 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 in the last quarter. Southland Equity Partners LLC raised its stake in Marathon Petroleum by 6.2% during the 1st quarter. Southland Equity Partners LLC now owns 1,549 shares of the oil and gas company's stock worth $226,000 after acquiring an additional 90 shares in the last quarter. Horizon Investments LLC raised its stake in Marathon Petroleum by 1.0% during the 4th quarter. Horizon Investments LLC now owns 9,308 shares of the oil and gas company's stock worth $1,298,000 after acquiring an additional 91 shares in the last quarter. Finally, Prudent Man Advisors LLC raised its stake in Marathon Petroleum by 2.3% during the 1st quarter. Prudent Man Advisors LLC now owns 4,056 shares of the oil and gas company's stock worth $591,000 after acquiring an additional 91 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MPC has been the topic of several research analyst reports. Evercore ISI initiated coverage on shares of Marathon Petroleum in a research note on Wednesday, June 18th. They set an "in-line" rating and a $170.00 price target on the stock. Mizuho lifted their price target on shares of Marathon Petroleum from $168.00 to $184.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. Wolfe Research lowered shares of Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a research note on Monday. Raymond James Financial lowered shares of Marathon Petroleum from a "strong-buy" rating to an "outperform" rating and lifted their price target for the stock from $180.00 to $200.00 in a research note on Tuesday. Finally, Morgan Stanley lifted their price target on shares of Marathon Petroleum from $160.00 to $182.00 and gave the stock an "overweight" rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $184.53.

Insider Buying and Selling

In related news, Director Kim K.W. Rucker sold 7,392 shares of the business'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 sale, the director owned 18,944 shares of the company's stock, valued at approximately $3,315,200. The trade was a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.21% of the company's stock.

Marathon Petroleum Stock Performance

Shares of NYSE:MPC traded up $0.17 during midday trading on Friday, hitting $174.34. The stock had a trading volume of 2,623,698 shares, compared to its average volume of 2,711,565. The company has a market capitalization of $53.56 billion, a PE ratio of 24.52, a P/E/G ratio of 3.27 and a beta of 0.88. The stock has a 50 day moving average price of $166.52 and a two-hundred day moving average price of $151.21. The company has a current ratio of 1.19, a quick ratio of 0.73 and a debt-to-equity ratio of 1.16. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $183.31.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.16. The business had revenue of $31.85 billion for the quarter, compared to the consensus estimate of $28.91 billion. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. The business's quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.58 earnings per share. As a group, equities analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st were issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date was Wednesday, May 21st. Marathon Petroleum's dividend payout ratio is currently 51.20%.

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.