Wesbanco Bank Inc. Purchases 5,922 Shares of Marathon Petroleum Corporation $MPC

Wesbanco Bank Inc. lifted its position in Marathon Petroleum Corporation (NYSE:MPC) by 28.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 26,964 shares of the oil and gas company’s stock after buying an additional 5,922 shares during the period. Wesbanco Bank Inc.’s holdings in Marathon Petroleum were worth $4,479,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Marathon Petroleum by 12.3% in the first quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company’s stock valued at $5,090,611,000 after acquiring an additional 3,834,501 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Marathon Petroleum by 18.7% in the first quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company’s stock valued at $1,722,664,000 after acquiring an additional 1,862,674 shares in the last quarter. Raymond James Financial Inc. raised its holdings in shares of Marathon Petroleum by 6.3% in the first quarter. Raymond James Financial Inc. now owns 6,037,532 shares of the oil and gas company’s stock valued at $879,608,000 after acquiring an additional 355,215 shares in the last quarter. Boston Partners raised its holdings in shares of Marathon Petroleum by 58.5% in the first quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company’s stock valued at $791,274,000 after acquiring an additional 2,011,810 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Marathon Petroleum by 3.7% in the first quarter. Bank of New York Mellon Corp now owns 4,982,348 shares of the oil and gas company’s stock worth $725,878,000 after purchasing an additional 178,397 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on MPC. UBS Group boosted their target price on shares of Marathon Petroleum from $175.00 to $203.00 and gave the stock a “buy” rating in a report on Thursday, July 10th. Dbs Bank upgraded shares of Marathon Petroleum to a “moderate buy” rating in a report on Monday, July 28th. Morgan Stanley boosted their target price on shares of Marathon Petroleum from $160.00 to $182.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. Citigroup boosted their target price on shares of Marathon Petroleum from $144.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. Finally, TD Cowen reduced their target price on shares of Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. Eight equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $189.36.

Marathon Petroleum Trading Down 1.2%

Shares of NYSE:MPC opened at $180.18 on Monday. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $186.28. The company has a market capitalization of $54.78 billion, a PE ratio of 26.73, a PEG ratio of 3.52 and a beta of 0.97. The business has a 50 day moving average of $172.81 and a two-hundred day moving average of $157.27. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15.

Marathon Petroleum (NYSE:MPC) last announced 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. The business 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%.The business’s quarterly revenue was down 11.1% on a year-over-year basis. During the same period in the prior year, the company posted $4.12 EPS. As a group, analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 2.0%. The ex-dividend date was Wednesday, August 20th. Marathon Petroleum’s dividend payout ratio is presently 54.01%.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the company’s 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 completion of the sale, the insider directly owned 28,700 shares in the company, valued at $4,678,100. This represents a 27.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kim K.W. Rucker sold 7,392 shares of the company’s stock in a transaction on Thursday, July 3rd. The shares were 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 approximately $3,315,200. The trade was a 28.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

Marathon Petroleum 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.