Swiss National Bank Boosts Stock Position in Marathon Petroleum Corporation $MPC

Swiss National Bank boosted its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 5.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 882,166 shares of the oil and gas company’s stock after acquiring an additional 49,000 shares during the quarter. Swiss National Bank owned about 0.30% of Marathon Petroleum worth $215,407,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp lifted its holdings in shares of Marathon Petroleum by 0.3% during the fourth quarter. State Street Corp now owns 17,934,327 shares of the oil and gas company’s stock worth $2,916,660,000 after purchasing an additional 47,896 shares during the period. Boston Partners increased its stake in Marathon Petroleum by 2.3% in the 3rd quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company’s stock valued at $1,214,522,000 after buying an additional 141,691 shares during the period. Norges Bank purchased a new position in Marathon Petroleum during the 4th quarter worth $472,312,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Marathon Petroleum by 0.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,818,361 shares of the oil and gas company’s stock worth $458,350,000 after acquiring an additional 11,693 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Marathon Petroleum by 2.7% in the 4th quarter. Invesco Ltd. now owns 2,600,191 shares of the oil and gas company’s stock worth $422,869,000 after acquiring an additional 67,600 shares during the period. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 10th. Weiss Ratings raised Marathon Petroleum from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, July 6th. JPMorgan Chase & Co. boosted their target price on Marathon Petroleum from $235.00 to $257.00 in a research report on Wednesday, May 6th. Jefferies Financial Group set a $335.00 target price on Marathon Petroleum and gave the stock a “buy” rating in a research note on Sunday, July 12th. Finally, Piper Sandler raised their price target on Marathon Petroleum from $197.00 to $228.00 and gave the company a “neutral” rating in a report on Thursday, April 9th. Ten research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $283.56.

Insiders Place Their Bets

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of Marathon Petroleum stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the completion of the transaction, the vice president owned 16,900 shares in the company, valued at approximately $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.17% of the company’s stock.

Marathon Petroleum Stock Up 0.0%

MPC opened at $312.74 on Monday. The business’s fifty day moving average is $262.34 and its two-hundred day moving average is $227.78. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.73 and a current ratio of 1.18. The company has a market cap of $91.30 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 0.42 and a beta of 0.52. Marathon Petroleum Corporation has a one year low of $158.00 and a one year high of $313.15.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.91. The company had revenue of $34.20 billion for the quarter, compared to analyst estimates of $33.42 billion. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.Marathon Petroleum’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.24) earnings per share. Analysts anticipate that Marathon Petroleum Corporation will post 35.82 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Wednesday, May 20th. Marathon Petroleum’s dividend payout ratio is presently 26.11%.

Marathon Petroleum 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.