Marathon Petroleum Corporation $MPC Shares Acquired by KBC Group NV

KBC Group NV raised its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 11.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 251,071 shares of the oil and gas company’s stock after buying an additional 25,234 shares during the period. KBC Group NV owned about 0.09% of Marathon Petroleum worth $61,307,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Main Street Group LTD bought a new stake in shares of Marathon Petroleum during the 1st quarter worth $35,000. Cedar Mountain Advisors LLC acquired a new stake in shares of Marathon Petroleum during the first quarter worth $40,000. Navalign LLC purchased a new stake in shares of Marathon Petroleum during the fourth quarter valued at $30,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Marathon Petroleum in the 4th quarter valued at $31,000. Finally, Berbice Capital Management LLC boosted its position in shares of Marathon Petroleum by 100.0% in the 4th quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Wall Street Analysts Forecast Growth

MPC has been the topic of several recent analyst reports. Barclays boosted their price objective on Marathon Petroleum from $270.00 to $289.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. JPMorgan Chase & Co. raised their target price on shares of Marathon Petroleum from $235.00 to $257.00 in a report on Wednesday, May 6th. Zacks Research downgraded shares of Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 17th. Piper Sandler boosted their price target on shares of Marathon Petroleum from $197.00 to $228.00 and gave the company a “neutral” rating in a report on Thursday, April 9th. Finally, Jefferies Financial Group set a $335.00 price target on shares of Marathon Petroleum and gave the company a “buy” rating in a research report on Sunday, July 12th. Ten equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $283.56.

Insider Buying and Selling

In related news, VP Michael A. Henschen II sold 6,336 shares of the business’s stock in a transaction that occurred on 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 transaction, the vice president directly owned 16,900 shares of the company’s stock, 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 document filed with the SEC, which is accessible through the SEC website. Insiders own 0.17% of the company’s stock.

Marathon Petroleum Stock Up 1.2%

Shares of Marathon Petroleum stock opened at $316.29 on Tuesday. The stock has a 50-day moving average price of $263.62 and a 200 day moving average price of $228.86. The company has a market cap of $92.34 billion, a P/E ratio of 20.65, a P/E/G ratio of 0.42 and a beta of 0.52. The company has a current ratio of 1.18, a quick ratio of 0.73 and a debt-to-equity ratio of 1.31. Marathon Petroleum Corporation has a 1 year low of $158.00 and a 1 year high of $319.36.

Marathon Petroleum (NYSE:MPC) last released 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 analysts’ expectations of $33.42 billion. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.24) EPS. As a group, analysts expect that Marathon Petroleum Corporation will post 35.82 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Wednesday, May 20th. Marathon Petroleum’s dividend payout ratio (DPR) is currently 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.