Eastern Bank Has $452,000 Stock Holdings in Marathon Petroleum Corporation $MPC

Eastern Bank trimmed its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 8.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,723 shares of the oil and gas company’s stock after selling 253 shares during the quarter. Eastern Bank’s holdings in Marathon Petroleum were worth $452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CBIZ Investment Advisory Services LLC lifted its stake in shares of Marathon Petroleum by 1,546.2% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 201 shares during the period. Hughes Financial Services LLC acquired a new position in shares of Marathon Petroleum in the 1st quarter valued at about $32,000. WPG Advisers LLC bought a new stake in Marathon Petroleum in the 1st quarter valued at about $32,000. Decker Retirement Planning Inc. increased its position in Marathon Petroleum by 1,621.4% in the 1st quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company’s stock valued at $35,000 after buying an additional 227 shares in the last quarter. Finally, Barnes Dennig Private Wealth Management LLC bought a new stake in Marathon Petroleum in the 1st quarter valued at about $35,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Marathon Petroleum

In other news, insider Molly R. Benson sold 10,879 shares of the business’s 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 transaction, the insider owned 28,700 shares in the company, valued at $4,678,100. The trade was a 27.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.21% of the stock is owned by insiders.

Marathon Petroleum Price Performance

Shares of NYSE MPC opened at $181.08 on Friday. Marathon Petroleum Corporation has a twelve month low of $115.10 and a twelve month high of $201.61. The stock’s 50 day moving average price is $178.73 and its 200-day moving average price is $163.60. The company has a market capitalization of $55.05 billion, a PE ratio of 26.87, a PEG ratio of 3.04 and a beta of 0.90. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15.

Marathon Petroleum (NYSE:MPC) last announced its 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 return on equity of 8.38% and a net margin of 1.58%.The firm had revenue of $34.10 billion for the quarter, compared to the consensus estimate of $31.70 billion. During the same quarter in the previous year, the business earned $4.12 EPS. The company’s revenue was down 11.1% compared to the same quarter last year. On average, equities analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th were paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Wednesday, August 20th. Marathon Petroleum’s payout ratio is presently 54.01%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MPC. Scotiabank reaffirmed an “outperform” rating on shares of Marathon Petroleum in a research report on Thursday. Dbs Bank raised Marathon Petroleum to a “moderate buy” rating in a research report on Monday, July 28th. Morgan Stanley boosted their target price on Marathon Petroleum from $182.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, October 3rd. Mizuho boosted their target price on Marathon Petroleum from $184.00 to $188.00 and gave the company a “neutral” rating in a research report on Monday, September 15th. Finally, Raymond James Financial boosted their target price on Marathon Petroleum from $195.00 to $199.00 and gave the company an “outperform” rating in a research report on Tuesday, September 9th. Eight investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $198.92.

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.