Keybank National Association OH Raises Stock Position in Marathon Petroleum Corporation $MPC

Keybank National Association OH grew its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 0.3% during the second quarter, HoldingsChannel.com reports. The fund owned 31,402 shares of the oil and gas company’s stock after purchasing an additional 83 shares during the quarter. Keybank National Association OH’s holdings in Marathon Petroleum were worth $5,216,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Activest Wealth Management grew its holdings in Marathon Petroleum by 290.2% during the 2nd quarter. Activest Wealth Management now owns 160 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 119 shares in the last quarter. CBIZ Investment Advisory Services LLC grew its holdings in Marathon Petroleum by 1,546.2% during 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 in the last quarter. Hughes Financial Services LLC acquired a new stake in Marathon Petroleum during the 1st quarter valued at $32,000. WPG Advisers LLC acquired a new stake in Marathon Petroleum during the 1st quarter valued at $32,000. Finally, Operose Advisors LLC acquired a new stake in Marathon Petroleum during the 1st quarter valued at $42,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Marathon Petroleum

In other 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 value 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 approximately $4,678,100. The trade was a 27.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.21% of the company’s stock.

Marathon Petroleum Stock Down 0.3%

Shares of NYSE:MPC opened at $195.01 on Friday. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $201.61. The company’s fifty day moving average is $186.45 and its two-hundred day moving average is $169.63. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23. The stock has a market capitalization of $59.29 billion, a price-to-earnings ratio of 28.93, a price-to-earnings-growth ratio of 4.09 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, beating the consensus estimate of $3.22 by $0.74. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The business had revenue of $34.10 billion during the quarter, compared to analyst estimates of $31.70 billion. During the same period in the previous year, the business posted $4.12 EPS. The company’s quarterly revenue was down 11.1% on a year-over-year basis. Equities analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Increases Dividend

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MPC. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Marathon Petroleum in a report on Wednesday, October 8th. Piper Sandler raised their price target on shares of Marathon Petroleum from $184.00 to $222.00 and gave the company a “neutral” rating in a report on Thursday, September 11th. Raymond James Financial reissued an “outperform” rating and set a $203.00 price objective (up from $199.00) on shares of Marathon Petroleum in a report on Friday, October 17th. Barclays upped their target price on shares of Marathon Petroleum from $176.00 to $194.00 and gave the company an “overweight” rating in a research note on Monday, October 13th. Finally, Mizuho lifted their price target on Marathon Petroleum from $184.00 to $188.00 and gave the stock a “neutral” rating in a research note on Monday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Marathon Petroleum has a consensus rating of “Moderate Buy” and a consensus target price of $200.31.

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.