Associated Banc Corp Has $402,000 Stake in Marathon Petroleum Corporation $MPC

Associated Banc Corp trimmed its stake in Marathon Petroleum Corporation (NYSE:MPC) by 34.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,423 shares of the oil and gas company’s stock after selling 1,285 shares during the period. Associated Banc Corp’s holdings in Marathon Petroleum were worth $402,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Advisors Asset Management Inc. lifted its holdings in Marathon Petroleum by 1.9% during the 2nd quarter. Advisors Asset Management Inc. now owns 11,338 shares of the oil and gas company’s stock valued at $1,883,000 after purchasing an additional 213 shares during the last quarter. Laurel Wealth Advisors LLC increased its holdings in shares of Marathon Petroleum by 16,741.9% during the second quarter. Laurel Wealth Advisors LLC now owns 84,883 shares of the oil and gas company’s stock worth $14,100,000 after buying an additional 84,379 shares in the last quarter. RiverFront Investment Group LLC bought a new position in shares of Marathon Petroleum in the second quarter valued at approximately $1,653,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of Marathon Petroleum by 3.7% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 185,763 shares of the oil and gas company’s stock worth $30,857,000 after acquiring an additional 6,588 shares in the last quarter. Finally, Quadcap Wealth Management LLC bought a new stake in Marathon Petroleum during the 2nd quarter worth approximately $571,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Analyst Ratings Changes

MPC has been the topic of several research reports. Bank of America upped their price objective on Marathon Petroleum from $184.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, September 3rd. TD Cowen cut their price target on Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Raymond James Financial set a $200.00 price target on Marathon Petroleum in a report on Tuesday, November 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Marathon Petroleum in a report on Wednesday, October 8th. Finally, BMO Capital Markets raised their target price on Marathon Petroleum from $208.00 to $210.00 in a report on Tuesday, November 11th. Eight investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $202.14.

Marathon Petroleum Trading Down 0.2%

Shares of NYSE:MPC opened at $189.80 on Wednesday. The firm has a market cap of $57.05 billion, a price-to-earnings ratio of 20.23, a PEG ratio of 1.00 and a beta of 0.90. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $202.29. The company’s fifty day simple moving average is $191.22 and its 200 day simple moving average is $176.90. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 1.31.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share for the quarter, topping analysts’ consensus estimates of $3.00 by $0.01. Marathon Petroleum had a net margin of 2.13% and a return on equity of 9.76%. The firm had revenue of $34.81 billion during the quarter, compared to analyst estimates of $31.06 billion. As a group, research analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Wednesday, November 19th will be issued a dividend of $1.00 per share. The ex-dividend date is Wednesday, November 19th. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.91. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.1%. Marathon Petroleum’s dividend payout ratio is 42.64%.

About Marathon Petroleum

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. 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 and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.