Fulton Bank N.A. Purchases 1,094 Shares of Marathon Petroleum Co. (NYSE:MPC)

Fulton Bank N.A. boosted its position in Marathon Petroleum Co. (NYSE:MPCGet Rating) by 13.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 9,365 shares of the oil and gas company’s stock after purchasing an additional 1,094 shares during the period. Fulton Bank N.A.’s holdings in Marathon Petroleum were worth $770,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MPC. State Street Corp grew its position in shares of Marathon Petroleum by 0.9% during the 1st quarter. State Street Corp now owns 41,765,374 shares of the oil and gas company’s stock valued at $3,570,939,000 after acquiring an additional 371,647 shares during the period. Bank of New York Mellon Corp grew its position in shares of Marathon Petroleum by 21.9% during the 1st quarter. Bank of New York Mellon Corp now owns 12,481,878 shares of the oil and gas company’s stock valued at $1,067,202,000 after acquiring an additional 2,244,421 shares during the period. Invesco Ltd. grew its position in shares of Marathon Petroleum by 39.0% during the 1st quarter. Invesco Ltd. now owns 6,695,296 shares of the oil and gas company’s stock valued at $572,449,000 after acquiring an additional 1,878,976 shares during the period. Norges Bank bought a new position in shares of Marathon Petroleum during the 4th quarter valued at approximately $411,853,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Marathon Petroleum by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,870,128 shares of the oil and gas company’s stock valued at $247,650,000 after acquiring an additional 21,024 shares during the period. 78.69% of the stock is owned by institutional investors.

Marathon Petroleum Stock Performance

NYSE MPC opened at $95.65 on Friday. The company’s 50 day simple moving average is $94.44 and its two-hundred day simple moving average is $91.01. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.49 and a quick ratio of 1.10. The stock has a market capitalization of $47.69 billion, a PE ratio of 6.46, a P/E/G ratio of 0.20 and a beta of 1.70. Marathon Petroleum Co. has a 1 year low of $56.08 and a 1 year high of $114.35.

Marathon Petroleum (NYSE:MPCGet Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The oil and gas company reported $10.61 earnings per share for the quarter, beating the consensus estimate of $4.98 by $5.63. The firm had revenue of $54.33 billion for the quarter, compared to analysts’ expectations of $44.26 billion. Marathon Petroleum had a net margin of 5.09% and a return on equity of 23.85%. The business’s quarterly revenue was up 82.1% on a year-over-year basis. During the same quarter last year, the company posted $0.67 EPS. Analysts predict that Marathon Petroleum Co. will post 21.15 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Wednesday, August 17th were given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.43%. The ex-dividend date was Tuesday, August 16th. Marathon Petroleum’s dividend payout ratio (DPR) is currently 15.68%.

Insider Activity

In other news, VP Carl Kristopher Hagedorn sold 14,353 shares of the firm’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $105.41, for a total transaction of $1,512,949.73. Following the sale, the vice president now owns 7,873 shares in the company, valued at approximately $829,892.93. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.28% of the company’s stock.

Analyst Upgrades and Downgrades

MPC has been the subject of a number of research reports. Credit Suisse Group increased their target price on shares of Marathon Petroleum to $130.00 in a research report on Thursday, June 9th. StockNews.com upgraded shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research note on Sunday, September 11th. Barclays upped their price target on shares of Marathon Petroleum from $94.00 to $112.00 and gave the company an “overweight” rating in a research note on Tuesday, August 16th. Royal Bank of Canada upped their price target on shares of Marathon Petroleum from $110.00 to $121.00 and gave the company an “outperform” rating in a research note on Wednesday, August 3rd. Finally, Wells Fargo & Company dropped their price target on shares of Marathon Petroleum from $129.00 to $117.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 3rd. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Marathon Petroleum presently has a consensus rating of “Buy” and a consensus target price of $115.58.

Marathon Petroleum Profile

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Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. It operates in two segments, Refining & Marketing, and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale.

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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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