Marathon Petroleum Corporation $MPC Stock Holdings Lifted by KBC Group NV

KBC Group NV grew its position in Marathon Petroleum Corporation (NYSE:MPC) by 11.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 251,071 shares of the oil and gas company’s stock after acquiring an additional 25,234 shares during the quarter. KBC Group NV’s holdings in Marathon Petroleum were worth $61,307,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp lifted its holdings in shares of Marathon Petroleum by 0.3% during the 4th quarter. State Street Corp now owns 17,934,327 shares of the oil and gas company’s stock valued at $2,916,660,000 after buying an additional 47,896 shares during the last quarter. Boston Partners increased its holdings in Marathon Petroleum by 2.3% in 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 buying an additional 141,691 shares during the last quarter. Norges Bank acquired a new position in Marathon Petroleum in the fourth quarter worth approximately $472,312,000. Charles Schwab Investment Management Inc. raised its position in Marathon Petroleum by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,818,361 shares of the oil and gas company’s stock valued at $458,350,000 after acquiring an additional 11,693 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Marathon Petroleum by 2.7% in the fourth quarter. Invesco Ltd. now owns 2,600,191 shares of the oil and gas company’s stock valued at $422,869,000 after acquiring an additional 67,600 shares during the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on MPC. BMO Capital Markets reissued an “outperform” rating on shares of Marathon Petroleum in a research report on Friday, June 12th. TD Cowen cut their price target on shares of Marathon Petroleum from $320.00 to $315.00 and set a “buy” rating on the stock in a report on Monday, June 29th. Piper Sandler lifted their price objective on shares of Marathon Petroleum from $197.00 to $228.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Jefferies Financial Group set a $335.00 price objective on shares of Marathon Petroleum and gave the stock a “buy” rating in a report on Sunday, July 12th. Finally, Morgan Stanley increased their target price on shares of Marathon Petroleum from $233.00 to $265.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Ten equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $283.56.

Marathon Petroleum Stock Up 1.2%

Marathon Petroleum stock opened at $316.29 on Tuesday. The firm has a market cap of $92.34 billion, a price-to-earnings ratio of 20.65, a P/E/G ratio of 0.42 and a beta of 0.52. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.18 and a quick ratio of 0.73. Marathon Petroleum Corporation has a fifty-two week low of $158.00 and a fifty-two week high of $319.36. The firm has a fifty day moving average price of $263.62 and a two-hundred day moving average price of $228.86.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results 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. The company had revenue of $34.20 billion for the quarter, compared to the consensus estimate of $33.42 billion. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The firm’s revenue was up 8.5% compared to the same quarter last year. During the same period last year, the business posted ($0.24) earnings per share. As a group, analysts forecast that Marathon Petroleum Corporation will post 35.82 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were paid a dividend of $1.00 per share. The ex-dividend date was Wednesday, May 20th. This represents a $4.00 annualized dividend and a yield of 1.3%. Marathon Petroleum’s dividend payout ratio is presently 26.11%.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, 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 value of $1,703,243.52. Following the sale, the vice president owned 16,900 shares of the company’s stock, valued at $4,543,058. This trade represents a 27.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.17% of the stock is owned by company insiders.

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.