Atlantic Union Bankshares Corp Buys 1,691 Shares of Marathon Petroleum Corporation $MPC

Atlantic Union Bankshares Corp boosted its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 5.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 30,209 shares of the oil and gas company’s stock after buying an additional 1,691 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Marathon Petroleum were worth $5,018,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Baker Tilly Wealth Management LLC boosted its stake in shares of Marathon Petroleum by 2.8% during the second quarter. Baker Tilly Wealth Management LLC now owns 2,226 shares of the oil and gas company’s stock valued at $370,000 after purchasing an additional 60 shares during the period. CHICAGO TRUST Co NA raised its holdings in Marathon Petroleum by 3.9% during the 2nd 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 last quarter. Werba Rubin Papier Wealth Management raised its holdings in Marathon Petroleum by 4.2% during the 2nd quarter. Werba Rubin Papier Wealth Management now owns 1,577 shares of the oil and gas company’s stock valued at $262,000 after buying an additional 64 shares during the last quarter. AdvisorShares Investments LLC boosted its position in Marathon Petroleum by 2.4% during the 2nd quarter. AdvisorShares Investments LLC now owns 2,828 shares of the oil and gas company’s stock valued at $470,000 after buying an additional 66 shares during the period. Finally, Sunpointe LLC grew its holdings in Marathon Petroleum by 4.1% in the 2nd quarter. Sunpointe LLC now owns 1,750 shares of the oil and gas company’s stock worth $291,000 after acquiring an additional 69 shares during the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the completion of the transaction, the insider directly owned 28,700 shares of the company’s stock, valued at $4,678,100. This trade represents a 27.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.21% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on MPC shares. Bank of America upped their price objective on shares of Marathon Petroleum from $184.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, September 3rd. Raymond James Financial set a $200.00 price target on Marathon Petroleum in a research report on Tuesday. Wolfe Research lowered Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 14th. TD Cowen reduced their target price on Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Finally, Wells Fargo & Company dropped their price target on Marathon Petroleum from $214.00 to $213.00 and set an “overweight” rating for the company in a research note on Wednesday. Eight research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.00.

Marathon Petroleum Stock Up 3.5%

MPC stock opened at $192.67 on Friday. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $201.61. The company has a market capitalization of $57.92 billion, a price-to-earnings ratio of 20.54, a price-to-earnings-growth ratio of 3.65 and a beta of 0.90. The business’s 50 day moving average price is $187.58 and its two-hundred day moving average price is $171.41. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.71 and a current ratio of 1.32.

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. The company had revenue of $34.81 billion for the quarter, compared to analyst estimates of $31.06 billion. Marathon Petroleum had a return on equity of 9.76% and a net margin of 2.13%. As a group, analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 19th will be given a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.1%. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.91. Marathon Petroleum’s payout ratio is currently 54.01%.

Marathon Petroleum Company 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.