Fifth Third Bancorp Raises Stock Holdings in Marathon Petroleum Corporation $MPC

Fifth Third Bancorp boosted its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 12.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 597,811 shares of the oil and gas company’s stock after buying an additional 67,583 shares during the quarter. Fifth Third Bancorp’s holdings in Marathon Petroleum were worth $145,973,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Equitable Trust Co. raised its stake in shares of Marathon Petroleum by 1.6% during the first quarter. Equitable Trust Co. now owns 2,637 shares of the oil and gas company’s stock valued at $644,000 after acquiring an additional 42 shares during the last quarter. Hunter Associates Investment Management LLC grew its stake in shares of Marathon Petroleum by 1.6% in the first quarter. Hunter Associates Investment Management LLC now owns 3,220 shares of the oil and gas company’s stock worth $786,000 after purchasing an additional 50 shares during the last quarter. Creative Financial Designs Inc. ADV increased its holdings in Marathon Petroleum by 2.6% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 2,050 shares of the oil and gas company’s stock valued at $333,000 after purchasing an additional 51 shares during the period. IFG Advisory LLC raised its position in Marathon Petroleum by 1.5% during the 4th quarter. IFG Advisory LLC now owns 3,429 shares of the oil and gas company’s stock valued at $558,000 after purchasing an additional 51 shares during the last quarter. Finally, Eagle Bluffs Wealth Management LLC lifted its holdings in Marathon Petroleum by 1.2% in the 4th quarter. Eagle Bluffs Wealth Management LLC now owns 4,357 shares of the oil and gas company’s stock worth $709,000 after buying an additional 52 shares during the period. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Insider Activity

In other news, VP Michael A. Henschen II sold 6,336 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total value of $1,703,243.52. Following the sale, the vice president directly owned 16,900 shares of the company’s stock, valued at $4,543,058. The trade was a 27.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.17% of the company’s stock.

Marathon Petroleum Stock Up 0.1%

Marathon Petroleum stock traded up $0.30 on Friday, hitting $283.60. 1,932,314 shares of the stock traded hands, compared to its average volume of 2,239,416. Marathon Petroleum Corporation has a 1 year low of $158.00 and a 1 year high of $287.15. The firm has a market cap of $82.79 billion, a P/E ratio of 18.51, a price-to-earnings-growth ratio of 0.41 and a beta of 0.52. 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 business’s fifty day simple moving average is $256.82 and its 200 day simple moving average is $222.50.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.91. The firm had revenue of $34.20 billion for the quarter, compared to the consensus estimate of $33.42 billion. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.24) EPS. As a group, sell-side analysts forecast that Marathon Petroleum Corporation will post 32.96 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.4%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 26.11%.

Analyst Ratings Changes

Several research firms have recently issued reports on MPC. Piper Sandler boosted their target price on Marathon Petroleum from $197.00 to $228.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Weiss Ratings raised Marathon Petroleum from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, July 6th. Bank of America boosted their price objective on shares of Marathon Petroleum from $224.00 to $260.00 in a research report on Tuesday, May 26th. Raymond James Financial raised their target price on shares of Marathon Petroleum from $285.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 10th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Marathon Petroleum from $235.00 to $257.00 in a research report on Wednesday, May 6th. Ten equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $274.88.

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.