Marathon Petroleum Corporation $MPC Stock Position Raised by Trust Point Inc.

Trust Point Inc. lifted its position in Marathon Petroleum Corporation (NYSE:MPC) by 66.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,771 shares of the oil and gas company’s stock after buying an additional 1,909 shares during the quarter. Trust Point Inc.’s holdings in Marathon Petroleum were worth $793,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC grew its position in Marathon Petroleum by 30.9% in the fourth quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock worth $696,000 after acquiring an additional 1,178 shares in the last quarter. GHE LLC lifted its stake in shares of Marathon Petroleum by 1.8% in the 4th quarter. GHE LLC now owns 38,572 shares of the oil and gas company’s stock valued at $5,381,000 after purchasing an additional 665 shares during the last quarter. Vident Advisory LLC boosted its holdings in Marathon Petroleum by 12.3% in the fourth quarter. Vident Advisory LLC now owns 15,606 shares of the oil and gas company’s stock worth $2,177,000 after purchasing an additional 1,712 shares in the last quarter. Woodline Partners LP acquired a new position in Marathon Petroleum during the fourth quarter worth $2,692,000. Finally, Waverly Advisors LLC raised its holdings in Marathon Petroleum by 364.6% during the fourth quarter. Waverly Advisors LLC now owns 20,035 shares of the oil and gas company’s stock valued at $2,795,000 after buying an additional 15,723 shares in the last quarter. Institutional investors own 76.77% of the company’s stock.

Insider Activity at Marathon Petroleum

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MPC. TD Cowen decreased their price target on Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. Barclays boosted their target price on Marathon Petroleum from $159.00 to $189.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. Piper Sandler upped their target price on Marathon Petroleum from $184.00 to $222.00 and gave the stock a “neutral” rating in a research report on Thursday, September 11th. Scotiabank reissued an “outperform” rating on shares of Marathon Petroleum in a research report on Friday, July 11th. Finally, Dbs Bank upgraded shares of Marathon Petroleum to a “moderate buy” rating in a research note on Monday, July 28th. Eight analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Marathon Petroleum currently has an average rating of “Moderate Buy” and an average price target of $189.64.

Marathon Petroleum Stock Up 0.3%

Shares of MPC stock opened at $185.18 on Friday. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $186.28. 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 firm has a market cap of $56.30 billion, a PE ratio of 27.47, a price-to-earnings-growth ratio of 3.41 and a beta of 0.97. The stock has a 50 day moving average of $173.10 and a 200-day moving average of $158.11.

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

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th were paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 2.0%. The ex-dividend date was Wednesday, August 20th. Marathon Petroleum’s payout ratio is currently 54.01%.

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.