Glenmede Trust Co. NA Has $9.41 Million Stock Holdings in Marathon Petroleum Corporation $MPC

Glenmede Trust Co. NA decreased its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 4.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,535 shares of the oil and gas company’s stock after selling 1,807 shares during the period. Glenmede Trust Co. NA’s holdings in Marathon Petroleum were worth $9,409,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of MPC. Norges Bank acquired a new position in shares of Marathon Petroleum in the fourth quarter valued at about $472,312,000. Capital Wealth Planning LLC raised its stake in Marathon Petroleum by 49,392.0% in the 4th quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company’s stock worth $245,157,000 after purchasing an additional 1,495,097 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Marathon Petroleum by 3,816.8% in the 4th quarter. Pacer Advisors Inc. now owns 1,306,749 shares of the oil and gas company’s stock valued at $212,517,000 after purchasing an additional 1,273,386 shares during the period. GHE LLC grew its position in shares of Marathon Petroleum by 1,939.8% during the 1st quarter. GHE LLC now owns 649,542 shares of the oil and gas company’s stock worth $158,605,000 after purchasing an additional 617,699 shares in the last quarter. Finally, Man Group plc grew its position in shares of Marathon Petroleum by 2,175.0% during the 4th quarter. Man Group plc now owns 568,790 shares of the oil and gas company’s stock worth $92,502,000 after purchasing an additional 543,788 shares in the last quarter. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

NYSE MPC opened at $307.20 on Tuesday. The company has a current ratio of 1.18, a quick ratio of 0.73 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $89.68 billion, a price-to-earnings ratio of 20.05, a P/E/G ratio of 0.20 and a beta of 0.52. The firm’s 50 day simple moving average is $275.17 and its 200 day simple moving average is $238.78. Marathon Petroleum Corporation has a 1 year low of $158.00 and a 1 year high of $326.92.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, beating the consensus estimate of $0.74 by $0.91. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The business had revenue of $34.20 billion during the quarter, compared to the consensus estimate of $33.42 billion. During the same period in the previous year, the business earned ($0.24) earnings per share. The company’s revenue was up 8.5% on a year-over-year basis. As a group, research analysts expect that Marathon Petroleum Corporation will post 43.19 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be paid a $1.00 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $4.00 annualized dividend and a dividend yield of 1.3%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 26.11%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on MPC shares. BMO Capital Markets reiterated an “outperform” rating on shares of Marathon Petroleum in a research report on Friday, June 12th. Weiss Ratings upgraded Marathon Petroleum from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, July 6th. Mizuho lifted their price objective on Marathon Petroleum from $224.00 to $284.00 and gave the company a “neutral” rating in a report on Wednesday, May 27th. Piper Sandler reiterated an “overweight” rating and set a $343.00 target price on shares of Marathon Petroleum in a research report on Thursday, July 23rd. Finally, JPMorgan Chase & Co. raised their price target on Marathon Petroleum from $235.00 to $257.00 in a research report on Wednesday, May 6th. Eleven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $298.69.

Insider Activity at Marathon Petroleum

In other news, VP Michael A. Henschen II sold 6,336 shares of the business’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the completion of the transaction, the vice president owned 16,900 shares of the company’s stock, valued at approximately $4,543,058. The trade was a 27.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.17% of the company’s stock.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.