Marathon Petroleum Corporation $MPC Shares Purchased by State of Wyoming

State of Wyoming increased its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 343.9% in the fourth quarter, HoldingsChannel reports. The firm owned 4,612 shares of the oil and gas company’s stock after acquiring an additional 3,573 shares during the quarter. State of Wyoming’s holdings in Marathon Petroleum were worth $750,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new position in Marathon Petroleum during the fourth quarter worth $472,312,000. Assenagon Asset Management S.A. grew its holdings in Marathon Petroleum by 332.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 320,499 shares of the oil and gas company’s stock worth $52,123,000 after acquiring an additional 246,384 shares during the period. Merewether Investment Management LP acquired a new position in Marathon Petroleum during the second quarter worth $35,548,000. Amundi boosted its position in Marathon Petroleum by 11.8% during the third quarter. Amundi now owns 1,626,862 shares of the oil and gas company’s stock worth $314,830,000 after purchasing an additional 172,172 shares in the last quarter. Finally, Boston Partners boosted its position in Marathon Petroleum by 2.3% during the third quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company’s stock worth $1,214,522,000 after purchasing an additional 141,691 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Key Stories Impacting Marathon Petroleum

Here are the key news stories impacting Marathon Petroleum this week:

• Positive Sentiment: Marathon Petroleum has been outperforming other oil refiners, and analysts remain moderately optimistic about its outlook, which suggests investors still see upside in the stock. How Is Marathon Petroleum’s Stock Performance Compared to Other Oil Refiner Stocks?
• Positive Sentiment: Recent commentary says MPC has gained about 8.7% since its last earnings report, reflecting continued momentum after a strong quarterly beat and better-than-expected revenue. Why Is Marathon Petroleum (MPC) Up 8.7% Since Last Earnings Report?
• Positive Sentiment: MPC was also named to the Zacks Rank #1 “Strong Buy” growth stocks list, which can attract momentum-focused investors. Best Growth Stocks to Buy for June 3rd
• Positive Sentiment: Marathon Petroleum’s West Coast refining assets could become a bigger earnings driver if California fuel supply remains tight, potentially improving refining margins. Can MPC’s West Coast Assets Become a Bigger Earnings Driver?
• Positive Sentiment: The company’s top safety performance recognition at AFPM awards supports its operational reputation and may reinforce confidence in management execution. Marathon Petroleum’s Top Safety Performance Recognized at AFPM Safety Awards
• Neutral Sentiment: Several recent valuation-focused articles note that MPC has had a strong multi-month run, which keeps the stock in focus but does not by itself change the fundamental story. Marathon Petroleum (MPC) Valuation Check After Strong Multi‑Month Share Price Gains

Insider Activity

In other news, insider Ricky D. Hessling sold 1,626 shares of the company’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $228.18, for a total value of $371,020.68. Following the sale, the insider directly owned 7,525 shares in the company, valued at $1,717,054.50. This represents a 17.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 4,473 shares of company stock valued at $1,015,428 in the last quarter. 0.17% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MPC. Bank of America boosted their target price on Marathon Petroleum from $224.00 to $260.00 in a research report on Tuesday, May 26th. Wells Fargo & Company boosted their target price on Marathon Petroleum to $335.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. TD Cowen boosted their target price on Marathon Petroleum to $320.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Jefferies Financial Group boosted their target price on Marathon Petroleum from $279.00 to $296.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Finally, Scotiabank boosted their target price on Marathon Petroleum from $174.00 to $210.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $268.50.

Marathon Petroleum Stock Down 0.1%

Shares of NYSE:MPC opened at $266.91 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.18 and a debt-to-equity ratio of 1.31. Marathon Petroleum Corporation has a 52-week low of $155.93 and a 52-week high of $272.46. The stock’s fifty day simple moving average is $242.49 and its 200-day simple moving average is $209.65. The company has a market capitalization of $77.92 billion, a P/E ratio of 17.42, a P/E/G ratio of 0.43 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.91. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The business had revenue of $34.20 billion for the quarter, compared to the consensus estimate of $33.42 billion. During the same period in the prior year, the business earned ($0.24) earnings per share. The business’s revenue was up 8.5% on a year-over-year basis. As a group, equities research analysts forecast that Marathon Petroleum Corporation will post 30.05 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Wednesday, May 20th. Marathon Petroleum’s dividend payout ratio is currently 26.11%.

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.