Zions Bancorporation National Association UT Makes New Investment in Marathon Petroleum Corporation (NYSE:MPC)

Key Points

• Zions Bancorporation acquired 1,873 shares of Marathon Petroleum, valued at approximately $273,000, highlighting continued interest from institutional investors.
• Marathon Petroleum recently announced a quarterly dividend of $0.91 per share, with a yield of 2.3% and a dividend payout ratio of 54.01%.
• Research analysts have mixed ratings for Marathon Petroleum, with price targets ranging from $170.00 to $185.29, indicating a generally cautious outlook on the stock.

Zions Bancorporation National Association UT acquired a new stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,873 shares of the oil and gas company's stock, valued at approximately $273,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Good Steward Wealth Advisors LLC acquired a new stake in shares of Marathon Petroleum in the first quarter worth approximately $346,000. Silver Oak Securities Incorporated acquired a new position in shares of Marathon Petroleum in the 1st quarter valued at $339,000. Financial Partners Group LLC lifted its stake in Marathon Petroleum by 65.8% during the 1st quarter. Financial Partners Group LLC now owns 3,937 shares of the oil and gas company's stock worth $574,000 after acquiring an additional 1,563 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in Marathon Petroleum by 8.0% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 44,387 shares of the oil and gas company's stock worth $6,467,000 after acquiring an additional 3,291 shares in the last quarter. Finally, Weatherly Asset Management L. P. acquired a new position in Marathon Petroleum during the 1st quarter worth about $216,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 value of $1,293,600.00. Following the completion of the sale, the director owned 18,944 shares of the company's stock, valued at $3,315,200. The trade was a 28.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on MPC shares. Piper Sandler upped their price target on Marathon Petroleum from $175.00 to $182.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Raymond James Financial reaffirmed an "outperform" rating and set a $200.00 price objective (up from $180.00) on shares of Marathon Petroleum in a research report on Tuesday, July 15th. Wells Fargo & Company increased their price objective on Marathon Petroleum from $182.00 to $205.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Mizuho increased their price objective on Marathon Petroleum from $168.00 to $184.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Finally, Wolfe Research cut Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a research report on Monday, July 14th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Marathon Petroleum has an average rating of "Hold" and an average target price of $185.29.

Marathon Petroleum Price Performance

NYSE MPC traded up $0.79 during mid-day trading on Thursday, hitting $162.52. The stock had a trading volume of 1,372,887 shares, compared to its average volume of 2,655,317. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. The company has a 50 day simple moving average of $169.28 and a 200 day simple moving average of $153.87. The company has a market cap of $49.41 billion, a price-to-earnings ratio of 24.11, a P/E/G ratio of 2.89 and a beta of 0.90. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $183.10.

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 for the quarter, topping the consensus estimate of $3.22 by $0.74. The company had revenue of $34.10 billion during the quarter, compared to the consensus estimate of $31.70 billion. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%. Marathon Petroleum's revenue was down 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $4.12 earnings per share. Equities analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $3.64 annualized dividend and a yield of 2.2%. Marathon Petroleum's dividend payout ratio (DPR) is presently 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.