Glenview Trust Co Invests $1.33 Million in Marathon Petroleum Corporation $MPC

Glenview Trust Co bought a new stake in Marathon Petroleum Corporation (NYSE:MPC) during the second quarter, Holdings Channel reports. The institutional investor bought 5,188 shares of the oil and gas company’s stock, valued at approximately $1,326,000.

Several other hedge funds also recently modified their holdings of MPC. Solstein Capital LLC bought a new position in Marathon Petroleum during the 2nd quarter valued at $26,000. Caitlin John LLC bought a new stake in shares of Marathon Petroleum in the 2nd quarter worth $26,000. Bell Investment Advisors Inc purchased a new stake in shares of Marathon Petroleum in the second quarter valued at about $27,000. Navalign LLC bought a new position in shares of Marathon Petroleum during the fourth quarter valued at about $30,000. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in Marathon Petroleum in the 4th quarter worth about $31,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

MPC stock opened at $369.00 on Friday. The firm has a 50 day moving average of $308.87 and a 200-day moving average of $260.20. The company has a current ratio of 1.25, a quick ratio of 0.89 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $107.73 billion, a P/E ratio of 12.68, a price-to-earnings-growth ratio of 0.24 and a beta of 0.52. Marathon Petroleum Corporation has a 12 month low of $161.93 and a 12 month high of $369.12.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $14.27 by $3.46. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The company had revenue of $51.99 billion for the quarter, compared to the consensus estimate of $40.87 billion. During the same quarter last year, the business posted $3.96 earnings per share. The firm’s revenue was up 53.5% compared to the same quarter last year. As a group, sell-side analysts predict that Marathon Petroleum Corporation will post 46.66 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $4.00 annualized dividend and a yield of 1.1%. Marathon Petroleum’s payout ratio is currently 13.75%.

Analyst Ratings Changes

A number of brokerages recently commented on MPC. Piper Sandler lifted their price target on Marathon Petroleum from $343.00 to $344.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Jefferies Financial Group set a $335.00 target price on shares of Marathon Petroleum and gave the company a “buy” rating in a research note on Sunday, July 12th. Weiss Ratings upgraded shares of Marathon Petroleum from a “hold (c+)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. The Goldman Sachs Group raised their target price on Marathon Petroleum from $291.00 to $376.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Finally, Morgan Stanley upped their price target on Marathon Petroleum from $233.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Marathon Petroleum currently has an average rating of “Moderate Buy” and an average target price of $312.50.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, SVP Shawn M. Lyon sold 2,500 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $350.00, for a total value of $875,000.00. Following the sale, the senior vice president owned 12,619 shares of the company’s stock, valued at $4,416,650. This trade represents a 16.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Molly R. Benson sold 17,196 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider directly owned 30,334 shares in the company, valued at $10,876,862.38. The trade was a 36.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 26,032 shares of company stock worth $8,744,213. 0.17% of the stock is currently owned by insiders.

Marathon Petroleum Profile

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.