Zurcher Kantonalbank Zurich Cantonalbank Has $22.51 Million Stake in Marathon Petroleum Corporation (NYSE:MPC)

Key Points

• Zurcher Kantonalbank increased its stake in Marathon Petroleum Corporation by 3.5%, owning a total of 154,476 shares valued at approximately $22.5 million.
• Shares of Marathon Petroleum saw a slight increase of 0.3%, trading at $175.39, with a market capitalization of $53.88 billion.
• Marathon Petroleum declared a quarterly dividend of $0.91 per share, translating to an annual yield of 2.08%.

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 3.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 154,476 shares of the oil and gas company's stock after acquiring an additional 5,268 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Marathon Petroleum were worth $22,506,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Fourth Dimension Wealth LLC acquired a new stake in shares of Marathon Petroleum during the 4th quarter valued at about $26,000. CBIZ Investment Advisory Services LLC boosted its position in shares of 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 acquiring an additional 201 shares in the last quarter. Hughes Financial Services LLC acquired a new stake in shares of Marathon Petroleum during the 1st quarter valued at about $32,000. Decker Retirement Planning Inc. boosted its position in shares of 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 in the last quarter. Finally, Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Marathon Petroleum during the 1st quarter valued at about $35,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Trading Down 3.0%

NYSE MPC traded down $5.16 during trading on Friday, reaching $165.04. 555,105 shares of the stock traded hands, compared to its average volume of 2,698,750. The firm has a market cap of $50.70 billion, a price-to-earnings ratio of 23.22, a price-to-earnings-growth ratio of 2.92 and a beta of 0.88. The stock's 50-day moving average price is $168.69 and its 200 day moving average price is $153.16. The company has a quick ratio of 0.73, a current ratio of 1.19 and a debt-to-equity ratio of 1.16. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $183.10.

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

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th will be issued a dividend of $0.91 per share. The ex-dividend date is Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a yield of 2.2%. Marathon Petroleum's payout ratio is currently 51.20%.

Insider Transactions at Marathon Petroleum

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

Analyst Ratings Changes

Several brokerages recently issued reports on MPC. Mizuho lifted their price target on shares of Marathon Petroleum from $168.00 to $184.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. Citigroup lifted their price target on shares of Marathon Petroleum from $144.00 to $182.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Raymond James Financial reissued an "outperform" rating and set a $200.00 price target (up from $180.00) on shares of Marathon Petroleum in a report on Tuesday, July 15th. TD Cowen boosted their target price on shares of Marathon Petroleum from $152.00 to $163.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Finally, Wolfe Research downgraded shares of Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $183.93.

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.