Zions Bancorporation National Association UT Acquires Shares of 1,873 Marathon Petroleum Corporation (NYSE:MPC)

Zions Bancorporation National Association UT acquired a new position in shares of Marathon Petroleum Corporation (NYSE:MPC — Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,873 shares of the oil and gas company’s stock, valued at approximately $273,000.

A number of other institutional investors also recently made changes to their positions in MPC. Beverly Hills Private Wealth LLC boosted its stake in Marathon Petroleum by 1.2% during the 4th quarter. Beverly Hills Private Wealth LLC now owns 6,655 shares of the oil and gas company’s stock valued at $928,000 after acquiring an additional 76 shares during the last quarter. Sunpointe LLC lifted its position in shares of Marathon Petroleum by 5.1% during the first quarter. Sunpointe LLC now owns 1,681 shares of the oil and gas company’s stock worth $245,000 after purchasing an additional 81 shares during the last quarter. Valmark Advisers Inc. grew its stake 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 worth $554,000 after purchasing an additional 86 shares in the last quarter. Southland Equity Partners LLC increased its holdings in 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 buying an additional 90 shares during the last quarter. Finally, Prudent Man Advisors LLC increased its holdings in 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 buying an additional 91 shares during the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Kim K.W. Rucker sold 7,392 shares of the company’s stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total value of $1,293,600.00. Following the completion of the sale, the director directly owned 18,944 shares of the company’s stock, valued at approximately $3,315,200. This represents a 28.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Piper Sandler lifted their target price on Marathon Petroleum from $175.00 to $182.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Evercore ISI initiated coverage on shares of Marathon Petroleum in a report on Wednesday, June 18th. They issued an “in-line” rating and a $170.00 price objective for the company. Morgan Stanley increased their target price on shares of Marathon Petroleum from $160.00 to $182.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. Wolfe Research downgraded shares of Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 14th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Marathon Petroleum in a research report on Friday, July 11th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $185.29.

Check Out Our Latest Report on Marathon Petroleum

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $160.95 on Monday. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $183.10. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71. The firm has a market capitalization of $48.93 billion, a price-to-earnings ratio of 23.88, a price-to-earnings-growth ratio of 2.88 and a beta of 0.90. The business has a 50 day simple moving average of $169.25 and a 200 day simple moving average of $153.73.

Marathon Petroleum (NYSE:MPC — Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.74. The company had revenue of $34.10 billion during the quarter, compared to analysts’ expectations of $31.70 billion. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%. The company’s revenue for the quarter was down 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.12 earnings per share. On average, equities research analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The business 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. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $3.64 annualized dividend and a yield of 2.3%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 54.01%.

Marathon Petroleum Company Profile

(Free Report)

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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