Bank of The West Grows Holdings in Marathon Petroleum Co. (NYSE:MPC)

Bank of The West boosted its holdings in Marathon Petroleum Co. (NYSE:MPCGet Rating) by 1.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,857 shares of the oil and gas company’s stock after purchasing an additional 555 shares during the quarter. Bank of The West’s holdings in Marathon Petroleum were worth $4,776,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Pettyjohn Wood & White Inc. purchased a new position in Marathon Petroleum during the 1st quarter worth $214,000. Empirical Finance LLC raised its position in Marathon Petroleum by 11.1% during the 1st quarter. Empirical Finance LLC now owns 12,312 shares of the oil and gas company’s stock worth $1,053,000 after buying an additional 1,226 shares during the last quarter. Chicago Capital LLC purchased a new position in Marathon Petroleum during the 1st quarter worth $242,000. Waddell & Associates LLC purchased a new position in Marathon Petroleum during the 1st quarter worth $240,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Marathon Petroleum by 68.8% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 175,015 shares of the oil and gas company’s stock worth $14,964,000 after buying an additional 71,315 shares during the last quarter. Institutional investors own 80.91% of the company’s stock.

NYSE MPC opened at $84.48 on Tuesday. Marathon Petroleum Co. has a one year low of $50.19 and a one year high of $114.35. The company’s 50 day moving average price is $95.30 and its 200 day moving average price is $83.23. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.07 and a current ratio of 1.45. The firm has a market capitalization of $45.70 billion, a price-to-earnings ratio of 5.01, a PEG ratio of 0.29 and a beta of 1.79.

Marathon Petroleum (NYSE:MPCGet Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The oil and gas company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.12 by $0.37. Marathon Petroleum had a net margin of 7.93% and a return on equity of 7.60%. The firm had revenue of $38.38 billion for the quarter, compared to analyst estimates of $32.46 billion. During the same quarter last year, the firm posted ($0.20) earnings per share. Marathon Petroleum’s revenue for the quarter was up 67.7% compared to the same quarter last year. Sell-side analysts forecast that Marathon Petroleum Co. will post 14.57 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 10th. Investors of record on Wednesday, May 18th were issued a $0.58 dividend. The ex-dividend date was Tuesday, May 17th. This represents a $2.32 annualized dividend and a yield of 2.75%. Marathon Petroleum’s payout ratio is 13.77%.

In related news, VP Raymond L. Brooks sold 133,857 shares of the firm’s stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $96.82, for a total value of $12,960,034.74. Following the transaction, the vice president now owns 63,248 shares in the company, valued at $6,123,671.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.28% of the company’s stock.

A number of brokerages have commented on MPC. StockNews.com upgraded shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research report on Friday. Credit Suisse Group upped their price target on shares of Marathon Petroleum to $130.00 in a research note on Thursday, June 9th. Morgan Stanley increased their price objective on shares of Marathon Petroleum from $90.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, April 18th. Piper Sandler upped their target price on shares of Marathon Petroleum from $96.00 to $106.00 and gave the company a “neutral” rating in a report on Monday, May 23rd. Finally, BMO Capital Markets initiated coverage on shares of Marathon Petroleum in a report on Monday, June 13th. They issued an “outperform” rating and a $135.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Marathon Petroleum currently has an average rating of “Buy” and a consensus target price of $110.36.

Marathon Petroleum Profile (Get Rating)

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

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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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