Bath Savings Trust Co Buys 3,405 Shares of Marathon Petroleum Corporation $MPC

by · The Markets Daily

Bath Savings Trust Co purchased a new position in Marathon Petroleum Corporation (NYSE:MPC – Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,405 shares of the oil and gas company’s stock, valued at approximately $1,346,000.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Marathon Petroleum during the second quarter valued at approximately $6,648,958,000. Bank of New York Mellon Corp bought a new stake in shares of Marathon Petroleum during the 2nd quarter valued at $1,029,611,000. Bank of America Corp DE lifted its stake in shares of Marathon Petroleum by 1.6% during the 1st quarter. Bank of America Corp DE now owns 2,595,084 shares of the oil and gas company’s stock valued at $633,668,000 after buying an additional 40,124 shares in the last quarter. Amundi boosted its holdings in Marathon Petroleum by 17.5% in the 2nd quarter. Amundi now owns 2,237,930 shares of the oil and gas company’s stock worth $572,172,000 after buying an additional 332,551 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Marathon Petroleum by 16.7% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,508,489 shares of the oil and gas company’s stock worth $385,675,000 after buying an additional 215,686 shares in the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on MPC shares. Morgan Stanley upped their price objective on Marathon Petroleum from $265.00 to $453.00 and gave the stock an “overweight” rating in a research note on Monday, September 14th. Wells Fargo & Company boosted their price target on Marathon Petroleum from $359.00 to $400.00 and gave the stock an “overweight” rating in a report on Tuesday, September 1st. The Goldman Sachs Group increased their price objective on shares of Marathon Petroleum from $376.00 to $472.00 and gave the company a “buy” rating in a report on Monday, September 21st. Citigroup reissued a “neutral” rating on shares of Marathon Petroleum in a report on Friday, October 2nd. Finally, Raymond James Financial upped their target price on shares of Marathon Petroleum from $350.00 to $445.00 and gave the stock an “outperform” rating in a research report on Monday, September 14th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $370.38.

Check Out Our Latest Stock Report on Marathon Petroleum

Insider Activity

In other news, VP Erin M. Brzezinski sold 570 shares of the stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $362.79, for a total value of $206,790.30. Following the sale, the vice president owned 1,576 shares of the company’s stock, valued at approximately $571,757.04. This represents a 26.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Shawn M. Lyon sold 2,500 shares of Marathon Petroleum stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $350.00, for a total transaction of $875,000.00. Following the transaction, the senior vice president directly owned 12,619 shares of the company’s stock, valued at approximately $4,416,650. This represents a 16.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 21,691 shares of company stock valued at $7,780,127. 0.17% of the stock is currently owned by insiders.

Marathon Petroleum Price Performance

NYSE MPC traded up $9.52 during trading on Wednesday, hitting $441.88. 1,923,747 shares of the stock traded hands, compared to its average volume of 2,499,254. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19. Marathon Petroleum Corporation has a 12-month low of $161.93 and a 12-month high of $444.99. The firm has a 50-day simple moving average of $372.02 and a 200-day simple moving average of $296.69. The company has a market capitalization of $129.00 billion, a P/E ratio of 15.19, a price-to-earnings-growth ratio of 0.13 and a beta of 0.54.

Marathon Petroleum (NYSE:MPC – Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.27 by $3.46. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The business had revenue of $51.99 billion for the quarter, compared to analysts’ expectations of $40.87 billion. During the same period in the prior year, the firm earned $3.96 EPS. The company’s revenue for the quarter was up 53.5% on a year-over-year basis. As a group, analysts predict that Marathon Petroleum Corporation will post 61.31 EPS for the current year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th were issued a $1.00 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.9%. Marathon Petroleum’s payout ratio is 13.75%.

Marathon Petroleum Profile

(Free Report)

Marathon Petroleum Corporation (NYSE:MPC) is an integrated downstream energy company engaged primarily in refining, marketing and transporting petroleum products. The company converts crude oil and other feedstocks into gasoline, diesel, jet fuel, asphalt, propane and other refined products used by consumers, businesses and industrial customers.

Marathon Petroleum operates refineries and related logistics assets in the United States, with a refining and marketing presence serving markets across the Midwest, Gulf Coast and West Coast.

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