Keybank National Association OH Increases Stock Position in Marathon Petroleum Corporation $MPC

Keybank National Association OH raised its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 0.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,402 shares of the oil and gas company’s stock after purchasing an additional 83 shares during the period. Keybank National Association OH’s holdings in Marathon Petroleum were worth $5,216,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Silver Oak Securities Incorporated acquired a new stake in Marathon Petroleum during the first quarter worth approximately $339,000. Jump Financial LLC boosted its position in Marathon Petroleum by 128.0% during the first quarter. Jump Financial LLC now owns 8,663 shares of the oil and gas company’s stock worth $1,262,000 after acquiring an additional 4,863 shares during the last quarter. Weatherly Asset Management L. P. acquired a new stake in Marathon Petroleum during the first quarter worth approximately $216,000. Journey Strategic Wealth LLC boosted its position in Marathon Petroleum by 105.0% during the first quarter. Journey Strategic Wealth LLC now owns 8,582 shares of the oil and gas company’s stock worth $1,250,000 after acquiring an additional 4,396 shares during the last quarter. Finally, FSM Wealth Advisors LLC acquired a new stake in Marathon Petroleum during the second quarter worth approximately $685,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Insider Activity at Marathon Petroleum

In other news, insider Molly R. Benson sold 10,879 shares of the firm’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $163.00, for a total value of $1,773,277.00. Following the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.21% of the company’s stock.

Marathon Petroleum Stock Performance

NYSE:MPC opened at $195.01 on Friday. 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 market cap of $59.29 billion, a P/E ratio of 28.93, a P/E/G ratio of 4.09 and a beta of 0.90. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $201.61. The firm’s 50 day moving average is $186.45 and its two-hundred day moving average is $169.63.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share for the quarter, topping analysts’ consensus estimates of $3.22 by $0.74. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The company had revenue of $34.10 billion for the quarter, compared to the consensus estimate of $31.70 billion. During the same quarter last year, the firm posted $4.12 earnings per share. Marathon Petroleum’s revenue was down 11.1% on a year-over-year basis. Analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 19th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.1%. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.91. Marathon Petroleum’s payout ratio is 54.01%.

Analysts Set New Price Targets

MPC has been the topic of a number of analyst reports. Raymond James Financial restated an “outperform” rating and set a $203.00 target price (up previously from $199.00) on shares of Marathon Petroleum in a research report on Friday, October 17th. Bank of America raised their target price on shares of Marathon Petroleum from $184.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 3rd. Dbs Bank upgraded shares of Marathon Petroleum to a “moderate buy” rating in a research report on Monday, July 28th. UBS Group increased their price target on shares of Marathon Petroleum from $203.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. Finally, Barclays increased their price target on shares of Marathon Petroleum from $176.00 to $194.00 and gave the stock an “overweight” rating in a research note on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, Marathon Petroleum has a consensus rating of “Moderate Buy” and an average target price of $200.31.

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.