1ST Source Bank Acquires 406 Shares of Marathon Petroleum Co. (NYSE:MPC)

1ST Source Bank lifted its stake in Marathon Petroleum Co. (NYSE:MPC) by 9.9% during the second quarter, HoldingsChannel.com reports. The firm owned 4,518 shares of the oil and gas company’s stock after purchasing an additional 406 shares during the quarter. 1ST Source Bank’s holdings in Marathon Petroleum were worth $784,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Raymond James & Associates grew its stake in shares of Marathon Petroleum by 2.6% in the second quarter. Raymond James & Associates now owns 4,286,892 shares of the oil and gas company’s stock worth $743,690,000 after acquiring an additional 107,915 shares during the last quarter. Norges Bank purchased a new stake in Marathon Petroleum during the 4th quarter valued at about $500,685,000. Price T Rowe Associates Inc. MD increased its stake in Marathon Petroleum by 1.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,080,958 shares of the oil and gas company’s stock valued at $620,815,000 after purchasing an additional 31,100 shares in the last quarter. Boston Partners raised its holdings in Marathon Petroleum by 0.3% in the first quarter. Boston Partners now owns 2,773,050 shares of the oil and gas company’s stock worth $558,390,000 after buying an additional 8,476 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in shares of Marathon Petroleum by 7.6% in the first quarter. Acadian Asset Management LLC now owns 1,663,835 shares of the oil and gas company’s stock worth $335,241,000 after buying an additional 117,790 shares in the last quarter. Institutional investors own 76.77% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on MPC shares. Tudor Pickering lowered shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a report on Monday, September 9th. Jefferies Financial Group upped their price target on Marathon Petroleum from $222.00 to $231.00 and gave the company a “buy” rating in a report on Monday, July 15th. Raymond James reduced their price objective on Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating for the company in a report on Thursday, May 30th. Wolfe Research assumed coverage on shares of Marathon Petroleum in a research note on Thursday, July 18th. They set an “outperform” rating and a $200.00 target price on the stock. Finally, Scotiabank reduced their price target on shares of Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $198.38.

Marathon Petroleum Trading Up 1.3 %

Shares of MPC stock opened at $163.58 on Friday. Marathon Petroleum Co. has a 1 year low of $139.32 and a 1 year high of $221.11. The firm has a fifty day moving average price of $170.03 and a 200-day moving average price of $180.07. The company has a market cap of $54.75 billion, a price-to-earnings ratio of 8.17, a PEG ratio of 2.09 and a beta of 1.38. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.31 and a quick ratio of 0.90.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $1.03. The business had revenue of $38.36 billion during the quarter, compared to analysts’ expectations of $36.66 billion. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.32 earnings per share. As a group, equities analysts predict that Marathon Petroleum Co. will post 12.68 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were given a $0.825 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $3.30 dividend on an annualized basis and a dividend yield of 2.02%. Marathon Petroleum’s payout ratio is currently 16.48%.

Marathon Petroleum Profile

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