Banco Bilbao Vizcaya Argentaria S.A. Raises Stock Position in Marathon Petroleum Corporation $MPC
Banco Bilbao Vizcaya Argentaria S.A. raised its stake in Marathon Petroleum Corporation (NYSE:MPC — Free Report) by 2.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 99,820 shares of the oil and gas company’s stock after buying an additional 2,212 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Marathon Petroleum were worth $14,536,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Beverly Hills Private Wealth LLC increased its holdings in Marathon Petroleum by 1.2% in the fourth quarter. Beverly Hills Private Wealth LLC now owns 6,655 shares of the oil and gas company’s stock valued at $928,000 after buying an additional 76 shares in the last quarter. Sunpointe LLC increased its holdings in Marathon Petroleum by 5.1% in the first quarter. Sunpointe LLC now owns 1,681 shares of the oil and gas company’s stock valued at $245,000 after buying an additional 81 shares in the last quarter. Valmark Advisers Inc. increased its holdings in Marathon Petroleum by 2.3% in the first quarter. Valmark Advisers Inc. now owns 3,801 shares of the oil and gas company’s stock valued at $554,000 after buying an additional 86 shares in the last quarter. Southland Equity Partners LLC grew its position in shares of Marathon Petroleum by 6.2% in the first quarter. Southland Equity Partners LLC now owns 1,549 shares of the oil and gas company’s stock valued at $226,000 after purchasing an additional 90 shares during the last quarter. Finally, Prudent Man Advisors LLC grew its position in shares of Marathon Petroleum by 2.3% in the first quarter. Prudent Man Advisors LLC now owns 4,056 shares of the oil and gas company’s stock valued at $591,000 after purchasing an additional 91 shares during the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Marathon Petroleum
In other Marathon Petroleum news, Director Kim K.W. Rucker sold 7,392 shares of the business’s stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the sale, the director directly owned 18,944 shares in the company, valued at approximately $3,315,200. The trade was a 28.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Molly R. Benson sold 10,879 shares of the business’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the sale, the insider owned 28,700 shares in the company, valued at $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have recently commented on MPC shares. TD Cowen lowered their price target on shares of Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Dbs Bank upgraded shares of Marathon Petroleum to a “moderate buy” rating in a research report on Monday, July 28th. Raymond James Financial reiterated an “outperform” rating and issued a $200.00 price target (up from $180.00) on shares of Marathon Petroleum in a research report on Tuesday, July 15th. Citigroup increased their price target on shares of Marathon Petroleum from $144.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, July 16th. Finally, Wall Street Zen upgraded shares of Marathon Petroleum from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Eight investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $185.29.
Read Our Latest Stock Analysis on Marathon Petroleum
Marathon Petroleum Stock Up 1.0%
Shares of NYSE MPC opened at $164.2570 on Wednesday. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $183.10. The firm’s 50 day moving average price is $169.50 and its 200 day moving average price is $154.26. The firm has a market cap of $49.94 billion, a P/E ratio of 24.37, a price-to-earnings-growth ratio of 2.96 and a beta of 0.90. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23.
Marathon Petroleum (NYSE:MPC — Get Free Report) last announced its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.22 by $0.74. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The firm had revenue of $34.10 billion for the quarter, compared to analyst estimates of $31.70 billion. During the same quarter last year, the business earned $4.12 earnings per share. Marathon Petroleum’s revenue was down 11.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.
Marathon Petroleum Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th will be paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, August 20th. Marathon Petroleum’s payout ratio is presently 54.01%.
About Marathon Petroleum
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.
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