Marathon Petroleum Co. (NYSE:MPC) Shares Acquired by Independence Bank of Kentucky

Independence Bank of Kentucky boosted its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 60.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,325 shares of the oil and gas company’s stock after purchasing an additional 500 shares during the period. Independence Bank of Kentucky’s holdings in Marathon Petroleum were worth $230,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. FinTrust Capital Advisors LLC grew its holdings in Marathon Petroleum by 400.0% during the 1st quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 100 shares in the last quarter. Crewe Advisors LLC acquired a new stake in Marathon Petroleum during the 1st quarter valued at $29,000. ICA Group Wealth Management LLC acquired a new position in Marathon Petroleum during the 4th quarter worth $30,000. Vima LLC acquired a new position in Marathon Petroleum during the 4th quarter worth $30,000. Finally, Bare Financial Services Inc acquired a new position in Marathon Petroleum during the 4th quarter worth $32,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on MPC shares. Wells Fargo & Company decreased their price objective on shares of Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Mizuho decreased their price target on shares of Marathon Petroleum from $203.00 to $201.00 and set a “neutral” rating for the company in a report on Thursday, June 20th. Wolfe Research started coverage on shares of Marathon Petroleum in a report on Thursday, July 18th. They issued an “outperform” rating and a $200.00 price target for the company. Jefferies Financial Group lifted their price target on shares of Marathon Petroleum from $222.00 to $231.00 and gave the company a “buy” rating in a report on Monday, July 15th. Finally, Raymond James decreased their price target on shares of Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating for the company in a report on Thursday, May 30th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $198.38.

Marathon Petroleum Trading Up 2.1 %

Shares of NYSE:MPC opened at $175.31 on Monday. The company has a market cap of $61.77 billion, a PE ratio of 8.76, a P/E/G ratio of 2.09 and a beta of 1.40. The company’s 50-day moving average price is $171.50 and its 200 day moving average price is $180.22. Marathon Petroleum Co. has a fifty-two week low of $139.32 and a fifty-two week high of $221.11. The company has a quick ratio of 0.99, a current ratio of 1.43 and a debt-to-equity ratio of 0.85.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, beating the consensus estimate of $3.09 by $1.03. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The firm had revenue of $38.36 billion for the quarter, compared to the consensus estimate of $36.66 billion. During the same period last year, the firm posted $5.32 EPS. Marathon Petroleum’s quarterly revenue was up 4.2% compared to the same quarter last year. Sell-side analysts anticipate that Marathon Petroleum Co. will post 13.84 earnings per share for the current year.

Marathon Petroleum announced that its board has approved a share repurchase program on Tuesday, April 30th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to repurchase up to 7.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be given a dividend of $0.825 per share. The ex-dividend date is Wednesday, August 21st. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.88%. Marathon Petroleum’s dividend payout ratio (DPR) is 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.