Marathon Petroleum Co. (NYSE:MPC) Shares Acquired by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp lifted its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 85.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,985 shares of the oil and gas company’s stock after purchasing an additional 6,902 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Marathon Petroleum were worth $1,747,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in MPC. Sit Investment Associates Inc. acquired a new stake in Marathon Petroleum in the 4th quarter valued at about $25,000. James Investment Research Inc. grew its stake in Marathon Petroleum by 65.2% in the 1st quarter. James Investment Research Inc. now owns 228 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 90 shares during the last quarter. Grey Fox Wealth Advisors LLC grew its stake in Marathon Petroleum by 105.8% in the 1st quarter. Grey Fox Wealth Advisors LLC now owns 247 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 127 shares during the last quarter. Graham Capital Wealth Management LLC acquired a new stake in Marathon Petroleum in the 1st quarter valued at about $408,535,000. Finally, Armstrong Advisory Group Inc. grew its stake in Marathon Petroleum by 44.1% in the 1st quarter. Armstrong Advisory Group Inc. now owns 304 shares of the oil and gas company’s stock valued at $41,000 after acquiring an additional 93 shares during the last quarter. 74.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MPC. Mizuho raised their price target on shares of Marathon Petroleum from $161.00 to $178.00 and gave the stock a “neutral” rating in a research note on Monday. Piper Sandler raised their price target on shares of Marathon Petroleum from $133.00 to $143.00 in a research note on Friday, August 4th. Morgan Stanley reaffirmed an “overweight” rating and set a $150.00 price target on shares of Marathon Petroleum in a research note on Wednesday, August 2nd. Jefferies Financial Group raised their price target on shares of Marathon Petroleum from $140.00 to $164.00 and gave the stock a “buy” rating in a research note on Monday, August 7th. Finally, Wells Fargo & Company increased their price objective on shares of Marathon Petroleum from $142.00 to $157.00 and gave the stock an “equal weight” rating in a report on Friday, September 8th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Marathon Petroleum currently has an average rating of “Moderate Buy” and a consensus price target of $155.00.

Marathon Petroleum Trading Up 1.6 %

MPC opened at $156.35 on Tuesday. The firm has a market capitalization of $62.51 billion, a P/E ratio of 5.67, a P/E/G ratio of 1.18 and a beta of 1.62. The firm’s 50 day moving average is $138.61 and its 200-day moving average is $126.07. Marathon Petroleum Co. has a 52-week low of $89.40 and a 52-week high of $157.99. The company has a quick ratio of 1.30, a current ratio of 1.84 and a debt-to-equity ratio of 0.86.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, August 1st. The oil and gas company reported $5.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.55 by $0.77. The company had revenue of $36.82 billion for the quarter, compared to analyst estimates of $32.60 billion. Marathon Petroleum had a net margin of 8.01% and a return on equity of 36.33%. The business’s quarterly revenue was down 32.2% on a year-over-year basis. During the same quarter last year, the firm posted $10.61 earnings per share. Analysts expect that Marathon Petroleum Co. will post 21.81 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Wednesday, August 16th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Tuesday, August 15th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.92%. Marathon Petroleum’s dividend payout ratio is currently 10.89%.

Insider Transactions at Marathon Petroleum

In other news, VP Timothy J. Aydt sold 4,913 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $145.26, for a total transaction of $713,662.38. Following the completion of the sale, the vice president now owns 18,995 shares of the company’s stock, valued at $2,759,213.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Marathon Petroleum news, COO Gregory Scott Floerke sold 8,189 shares of Marathon Petroleum stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $145.80, for a total value of $1,193,956.20. Following the completion of the transaction, the chief operating officer now owns 28,633 shares of the company’s stock, valued at $4,174,691.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Timothy J. Aydt sold 4,913 shares of Marathon Petroleum stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $145.26, for a total transaction of $713,662.38. Following the completion of the transaction, the vice president now directly owns 18,995 shares of the company’s stock, valued at approximately $2,759,213.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,188 shares of company stock valued at $3,890,973. 0.28% of the stock is currently owned by corporate insiders.

Marathon Petroleum Profile

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. It operates in two segments, Refining & Marketing, and Midstream. 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.