2,310 Shares in Marathon Petroleum Corporation $MPC Bought by Field & Main Bank

Field & Main Bank bought a new stake in Marathon Petroleum Corporation (NYSE:MPC) during the second quarter, Holdings Channel reports. The firm bought 2,310 shares of the oil and gas company’s stock, valued at approximately $591,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MPC. BlackRock Inc. bought a new stake in Marathon Petroleum during the second quarter valued at about $6,648,958,000. Bank of New York Mellon Corp bought a new position in shares of Marathon Petroleum in the second quarter worth about $1,029,611,000. Norges Bank acquired a new position in shares of Marathon Petroleum during the 4th quarter worth about $472,312,000. Bank of America Corp DE bought a new stake in Marathon Petroleum during the 2nd quarter valued at approximately $621,832,000. Finally, Capital Wealth Planning LLC boosted its stake in Marathon Petroleum by 49,392.0% during the 4th quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company’s stock valued at $245,157,000 after purchasing an additional 1,495,097 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Insider Activity

In other news, insider Molly R. Benson sold 17,196 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $358.57, for a total value of $6,165,969.72. Following the sale, the insider directly owned 30,334 shares in the company, valued at approximately $10,876,862.38. This represents a 36.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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 value of $1,703,243.52. Following the transaction, 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 SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 26,032 shares of company stock worth $8,744,213. Company insiders own 0.17% of the company’s stock.

Marathon Petroleum Trading Up 1.5%

Shares of MPC stock opened at $369.00 on Friday. The firm has a fifty day moving average of $308.87 and a 200-day moving average of $260.20. The stock has a market cap of $107.73 billion, a price-to-earnings ratio of 12.68, a P/E/G ratio of 0.24 and a beta of 0.52. Marathon Petroleum Corporation has a 52-week low of $161.93 and a 52-week high of $369.12. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.89 and a current ratio of 1.25.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, beating the consensus estimate of $14.27 by $3.46. The business had revenue of $51.99 billion for the quarter, compared to analyst estimates of $40.87 billion. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The firm’s revenue was up 53.5% on a year-over-year basis. During the same period in the previous year, the business earned $3.96 EPS. On average, equities research analysts forecast that Marathon Petroleum Corporation will post 46.66 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 Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be issued 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 of this dividend is Wednesday, August 19th. Marathon Petroleum’s payout ratio is presently 13.75%.

Analyst Ratings Changes

Several brokerages have commented on MPC. Wall Street Zen raised Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 10th. Bank of America raised their price objective on shares of Marathon Petroleum from $224.00 to $260.00 in a research note on Tuesday, May 26th. Weiss Ratings raised shares of Marathon Petroleum from a “hold (c+)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. The Goldman Sachs Group upped their target price on shares of Marathon Petroleum from $291.00 to $376.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Finally, Citigroup increased their price target on shares of Marathon Petroleum from $303.00 to $318.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Marathon Petroleum presently has an average 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.