Danske Bank A S Invests $2.02 Million in Marathon Petroleum Corporation $MPC

Danske Bank A S acquired a new stake in Marathon Petroleum Corporation (NYSE:MPC) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 7,889 shares of the oil and gas company’s stock, valued at approximately $2,017,000.

Several other institutional investors also recently modified their holdings of MPC. BlackRock Inc. bought a new position in shares of Marathon Petroleum during the second quarter worth about $6,648,958,000. Bank of New York Mellon Corp acquired a new stake in Marathon Petroleum during the 2nd quarter valued at approximately $1,029,611,000. Norges Bank bought a new position in Marathon Petroleum during the 4th quarter worth approximately $472,312,000. Capital Wealth Planning LLC lifted its position in shares of 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 during the period. Finally, Pacer Advisors Inc. boosted its stake in shares of 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 last quarter. Institutional investors own 76.77% of the company’s stock.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction dated 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 sale, the vice president owned 16,900 shares in the company, valued at $4,543,058. This trade represents a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Shawn M. Lyon sold 2,500 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $350.00, for a total value of $875,000.00. Following the sale, the senior vice president owned 12,619 shares of the company’s stock, valued at $4,416,650. This represents a 16.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.17% of the stock is currently owned by insiders.

Marathon Petroleum Trading Up 1.1%

Shares of Marathon Petroleum stock opened at $362.18 on Friday. The company has a market capitalization of $105.73 billion, a P/E ratio of 12.45, a price-to-earnings-growth ratio of 0.23 and a beta of 0.52. The stock has a fifty day simple moving average of $297.25 and a 200 day simple moving average of $254.23. Marathon Petroleum Corporation has a 12-month low of $161.93 and a 12-month high of $367.60. The company has a current ratio of 1.25, a quick ratio of 0.89 and a debt-to-equity ratio of 1.19.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $14.27 by $3.46. The firm had revenue of $51.99 billion for the quarter, compared to the consensus estimate of $40.87 billion. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The business’s revenue for the quarter was up 53.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.96 EPS. On average, sell-side analysts anticipate that Marathon Petroleum Corporation will post 46.66 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be given a dividend of $1.00 per share. The ex-dividend date is Wednesday, August 19th. This represents a $4.00 annualized dividend and a yield of 1.1%. Marathon Petroleum’s payout ratio is presently 13.75%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. UBS Group reissued a “buy” rating and set a $321.00 target price on shares of Marathon Petroleum in a research note on Friday, July 10th. Barclays lifted their price objective on Marathon Petroleum from $289.00 to $321.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Weiss Ratings raised Marathon Petroleum from a “hold (c+)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. Jefferies Financial Group set a $335.00 target price on Marathon Petroleum and gave the company a “buy” rating in a research report on Sunday, July 12th. Finally, Piper Sandler raised their target price on Marathon Petroleum from $343.00 to $344.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $312.50.

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.