2,904,209 Shares in Marathon Petroleum Corporation $MPC Purchased by Norges Bank

Norges Bank acquired a new position in Marathon Petroleum Corporation (NYSE:MPC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,904,209 shares of the oil and gas company’s stock, valued at approximately $472,312,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Navalign LLC purchased a new stake in Marathon Petroleum in the 4th quarter worth about $30,000. Kohmann Bosshard Financial Services LLC bought a new position in Marathon Petroleum in the 4th quarter worth about $31,000. KERR FINANCIAL PLANNING Corp bought a new position in Marathon Petroleum in the 3rd quarter worth about $39,000. IAG Wealth Partners LLC bought a new position in Marathon Petroleum in the 3rd quarter worth about $39,000. Finally, Berbice Capital Management LLC grew its stake in Marathon Petroleum by 100.0% in the 4th quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock worth $33,000 after acquiring an additional 100 shares in the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Zacks Research upgraded shares of Marathon Petroleum from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 7th. The Goldman Sachs Group upped their target price on shares of Marathon Petroleum from $264.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Wells Fargo & Company upped their target price on shares of Marathon Petroleum to $335.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Bank of America upped their target price on shares of Marathon Petroleum from $224.00 to $260.00 in a research note on Tuesday, May 26th. Finally, Raymond James Financial restated an “outperform” rating on shares of Marathon Petroleum in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $268.50.

Insiders Place Their Bets

In other Marathon Petroleum news, insider Ricky D. Hessling sold 1,626 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $228.18, for a total value of $371,020.68. Following the completion of the sale, the insider directly owned 7,525 shares in the company, valued at $1,717,054.50. This trade represents a 17.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 4,473 shares of company stock valued at $1,015,428 in the last three months. 0.17% of the stock is owned by company insiders.

Marathon Petroleum Price Performance

NYSE MPC opened at $258.73 on Tuesday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.73 and a current ratio of 1.18. The firm’s 50 day moving average price is $240.73 and its 200-day moving average price is $208.19. Marathon Petroleum Corporation has a 52-week low of $155.93 and a 52-week high of $264.14. The company has a market cap of $75.53 billion, a PE ratio of 16.89, a P/E/G ratio of 0.40 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.91. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The firm had revenue of $34.20 billion for the quarter, compared to the consensus estimate of $33.42 billion. During the same period last year, the firm earned ($0.24) earnings per share. The company’s quarterly revenue was up 8.5% on a year-over-year basis. Sell-side analysts forecast that Marathon Petroleum Corporation will post 30.05 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th will be paid a dividend of $1.00 per share. The ex-dividend date is Wednesday, May 20th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.5%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 26.11%.

More Marathon Petroleum News

Here are the key news stories impacting Marathon Petroleum this week:

• Positive Sentiment: Zacks named Marathon Petroleum one of its top-ranked growth stocks for June 1, putting MPC on a Zacks Rank #1 (Strong Buy) list. Best Growth Stocks to Buy for June 1st
• Positive Sentiment: Another Zacks feature highlighted MPC as a stock that could beat earnings in its upcoming report, reinforcing expectations for a favorable fundamental setup. Looking for Earnings Beat? Buy These 5 Top-Ranked Stocks
• Positive Sentiment: Analyst commentary also described Wall Street sentiment as optimistic, with Marathon Petroleum’s average brokerage recommendation effectively at Buy. Is Marathon Petroleum (MPC) a Buy as Wall Street Analysts Look Optimistic?
• Positive Sentiment: Energy-sector outlook articles also listed MPC among oil stocks that could benefit from tighter supply and renewed strength in crude markets after Iran-U.S. peace talks collapsed. Oil Stocks Look Poised for Another Leg Higher
• Neutral Sentiment: Several roundup articles mentioned MPC alongside other energy names, but did not introduce any company-specific catalyst beyond broad sector positioning.

Marathon Petroleum 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.