Zurcher Kantonalbank Zurich Cantonalbank Acquires 5,268 Shares of Marathon Petroleum Corporation (NYSE:MPC)
Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Marathon Petroleum Corporation (NYSE:MPC — Free Report) by 3.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 154,476 shares of the oil and gas company’s stock after purchasing an additional 5,268 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Marathon Petroleum were worth $22,506,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Fourth Dimension Wealth LLC bought a new stake in Marathon Petroleum in the fourth quarter valued at approximately $26,000. CBIZ Investment Advisory Services LLC boosted its holdings in Marathon Petroleum by 1,546.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 201 shares during the last quarter. Hughes Financial Services LLC bought a new stake in Marathon Petroleum in the first quarter valued at approximately $32,000. Decker Retirement Planning Inc. boosted its holdings in Marathon Petroleum by 1,621.4% in the first quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 227 shares during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC bought a new stake in Marathon Petroleum in the first quarter valued at approximately $35,000. 76.77% of the stock is currently owned by institutional investors.
Marathon Petroleum Price Performance
Shares of NYSE:MPC opened at $174.64 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 1.19 and a debt-to-equity ratio of 1.16. Marathon Petroleum Corporation has a twelve month low of $115.10 and a twelve month high of $183.31. The stock’s 50 day moving average is $167.90 and its 200-day moving average is $152.72. The firm has a market capitalization of $53.65 billion, a price-to-earnings ratio of 24.56, a PEG ratio of 2.93 and a beta of 0.88.
Marathon Petroleum (NYSE:MPC — Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.16. Marathon Petroleum had a return on equity of 8.89% and a net margin of 1.75%. The business had revenue of $31.85 billion for the quarter, compared to analysts’ expectations of $28.91 billion. During the same period last year, the business earned $2.58 EPS. The business’s revenue was down 4.1% on a year-over-year basis. Sell-side analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.
Marathon Petroleum Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st were paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend was Wednesday, May 21st. Marathon Petroleum’s dividend payout ratio (DPR) is presently 51.20%.
Analyst Ratings Changes
Several analysts recently commented on MPC shares. Scotiabank reiterated an “outperform” rating on shares of Marathon Petroleum in a report on Friday, July 11th. Wolfe Research cut Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a report on Monday, July 14th. Wall Street Zen upgraded Marathon Petroleum from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Mizuho increased their price target on Marathon Petroleum from $168.00 to $184.00 and gave the stock a “neutral” rating in a report on Tuesday, May 13th. Finally, Morgan Stanley increased their price target on Marathon Petroleum from $160.00 to $182.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $183.93.
Check Out Our Latest Stock Report on MPC
Insiders Place Their Bets
In other Marathon Petroleum news, Director Kim K.W. Rucker sold 7,392 shares of the stock in a transaction dated 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 owned 18,944 shares in the company, valued at approximately $3,315,200. This trade represents a 28.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.25% of the company’s stock.
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.
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