First Nebraska Trust Co Makes New $4.61 Million Investment in Marathon Petroleum Corporation $MPC

First Nebraska Trust Co acquired a new position in Marathon Petroleum Corporation (NYSE:MPC) in the 2nd quarter, Holdings Channel reports. The firm acquired 18,039 shares of the oil and gas company’s stock, valued at approximately $4,612,000.

Other hedge funds have also made changes to their positions in the company. Bank of Nova Scotia acquired a new position in shares of Marathon Petroleum during the 2nd quarter valued at $28,993,000. Vista Investment Management purchased a new stake in Marathon Petroleum during the 2nd quarter worth $738,000. Compass Financial Management LLC acquired a new stake in Marathon Petroleum in the 2nd quarter valued at $774,000. Elevation Point Wealth Partners LLC purchased a new position in Marathon Petroleum in the second quarter valued at about $1,815,000. Finally, Alta Advisers Ltd purchased a new position in Marathon Petroleum in the second quarter valued at about $296,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Insider Activity at Marathon Petroleum

In other news, SVP Shawn M. Lyon sold 2,500 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $350.00, for a total transaction of $875,000.00. Following the completion of the transaction, the senior vice president directly owned 12,619 shares in the company, valued at approximately $4,416,650. This represents a 16.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the sale, the vice president directly owned 16,900 shares of the company’s stock, valued at $4,543,058. The trade was a 27.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.17% of the stock is owned by insiders.

Marathon Petroleum Stock Performance

NYSE:MPC opened at $362.18 on Friday. The firm has a 50-day moving average of $297.25 and a two-hundred day moving average of $254.23. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89. The stock has a market cap of $105.73 billion, a P/E ratio of 12.45, a PEG ratio of 0.23 and a beta of 0.52. Marathon Petroleum Corporation has a 1-year low of $161.93 and a 1-year high of $367.60.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $14.27 by $3.46. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The business had revenue of $51.99 billion for the quarter, compared to analyst estimates of $40.87 billion. During the same period in the previous year, the company earned $3.96 earnings per share. The company’s revenue for the quarter was up 53.5% compared to the same quarter last year. On average, research analysts expect that Marathon Petroleum Corporation will post 46.66 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio (DPR) is 13.75%.

Analyst Ratings Changes

Several brokerages have recently weighed in on MPC. Morgan Stanley upped their target price on Marathon Petroleum from $233.00 to $265.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Piper Sandler raised their target price on Marathon Petroleum from $343.00 to $344.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. UBS Group reissued a “buy” rating and set a $321.00 price target on shares of Marathon Petroleum in a research report on Friday, July 10th. Zacks Research cut Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 17th. Finally, TD Cowen increased their price objective on shares of Marathon Petroleum from $357.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Twelve equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $312.50.

About Marathon Petroleum

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.