3,001 Shares in Marathon Petroleum Corporation $MPC Acquired by Legacy Trust

Legacy Trust purchased a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC) during the third quarter, Holdings Channel.com reports. The firm purchased 3,001 shares of the oil and gas company’s stock, valued at approximately $578,000.

A number of other hedge funds have also recently made changes to their positions in the business. CoreCap Advisors LLC grew its holdings in shares of Marathon Petroleum by 2.6% during the 3rd quarter. CoreCap Advisors LLC now owns 2,363 shares of the oil and gas company’s stock valued at $456,000 after purchasing an additional 59 shares during the last quarter. Baker Tilly Wealth Management LLC lifted its stake in Marathon Petroleum by 2.8% in the second quarter. Baker Tilly Wealth Management LLC now owns 2,226 shares of the oil and gas company’s stock worth $370,000 after purchasing an additional 60 shares during the last quarter. CHICAGO TRUST Co NA boosted its position in Marathon Petroleum by 3.9% during the second quarter. CHICAGO TRUST Co NA now owns 1,684 shares of the oil and gas company’s stock valued at $280,000 after buying an additional 63 shares during the period. FSM Wealth Advisors LLC grew its stake in shares of Marathon Petroleum by 1.6% during the third quarter. FSM Wealth Advisors LLC now owns 3,944 shares of the oil and gas company’s stock valued at $760,000 after buying an additional 63 shares during the last quarter. Finally, Werba Rubin Papier Wealth Management increased its holdings in shares of Marathon Petroleum by 4.2% in the second quarter. Werba Rubin Papier Wealth Management now owns 1,577 shares of the oil and gas company’s stock worth $262,000 after buying an additional 64 shares during the period. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Price Performance

Shares of Marathon Petroleum stock opened at $176.39 on Friday. The business has a 50 day moving average of $183.16 and a 200 day moving average of $180.34. Marathon Petroleum Corporation has a 52 week low of $115.10 and a 52 week high of $202.29. The company has a market cap of $53.02 billion, a PE ratio of 18.80, a P/E/G ratio of 0.67 and a beta of 0.74. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 1.31.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share for the quarter, beating the consensus estimate of $3.00 by $0.01. Marathon Petroleum had a net margin of 2.13% and a return on equity of 9.76%. The business had revenue of $34.81 billion for the quarter, compared to analysts’ expectations of $31.06 billion. As a group, equities research analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Wednesday, November 19th were given a dividend of $1.00 per share. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.91. This represents a $4.00 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Wednesday, November 19th. Marathon Petroleum’s dividend payout ratio is presently 42.64%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on MPC shares. Mizuho set a $196.00 target price on Marathon Petroleum in a report on Friday, December 12th. JPMorgan Chase & Co. boosted their price objective on Marathon Petroleum from $183.00 to $211.00 and gave the company a “neutral” rating in a research report on Wednesday, November 12th. Morgan Stanley increased their price objective on Marathon Petroleum from $182.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, October 3rd. BMO Capital Markets reaffirmed an “outperform” rating on shares of Marathon Petroleum in a research note on Tuesday, December 9th. Finally, Barclays upped their price target on shares of Marathon Petroleum from $194.00 to $202.00 and gave the company an “overweight” rating in a report on Monday, November 17th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $199.71.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.