26,200 Shares in Marathon Petroleum Corporation $MPC Purchased by First Interstate Bank

First Interstate Bank bought a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 26,200 shares of the oil and gas company’s stock, valued at approximately $5,050,000.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Marathon Petroleum by 11.2% in the 2nd quarter. Vanguard Group Inc. now owns 38,866,104 shares of the oil and gas company’s stock valued at $6,456,049,000 after buying an additional 3,924,713 shares during the period. Geode Capital Management LLC grew its holdings in shares of Marathon Petroleum by 14.8% during the 2nd quarter. Geode Capital Management LLC now owns 8,013,213 shares of the oil and gas company’s stock valued at $1,325,598,000 after acquiring an additional 1,033,645 shares in the last quarter. Boston Partners increased its stake in shares of Marathon Petroleum by 13.1% in the second quarter. Boston Partners now owns 6,163,737 shares of the oil and gas company’s stock worth $1,024,395,000 after acquiring an additional 715,223 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Marathon Petroleum by 12.8% during the second quarter. Bank of New York Mellon Corp now owns 5,619,398 shares of the oil and gas company’s stock valued at $933,438,000 after purchasing an additional 637,050 shares during the last quarter. Finally, Norges Bank acquired a new stake in Marathon Petroleum during the second quarter valued at $527,197,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their price target on Marathon Petroleum from $211.00 to $179.00 and set a “neutral” rating for the company in a research note on Tuesday, January 13th. Zacks Research raised shares of Marathon Petroleum from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 5th. Morgan Stanley boosted their target price on shares of Marathon Petroleum from $182.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, October 3rd. BMO Capital Markets cut their price target on shares of Marathon Petroleum from $208.00 to $200.00 and set an “outperform” rating on the stock in a report on Monday, January 12th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Marathon Petroleum in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Marathon Petroleum presently has an average rating of “Moderate Buy” and an average price target of $195.71.

Marathon Petroleum Stock Performance

NYSE:MPC opened at $174.76 on Wednesday. The firm has a market capitalization of $52.53 billion, a PE ratio of 18.63, a PEG ratio of 0.72 and a beta of 0.74. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $202.29. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 1.31. The firm’s fifty day simple moving average is $180.90 and its 200 day simple moving average is $180.77.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.00 by $0.01. Marathon Petroleum had a return on equity of 9.76% and a net margin of 2.13%.The company had revenue of $34.81 billion for the quarter, compared to the consensus estimate of $31.06 billion. On average, sell-side analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 19th were given a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, November 19th. This represents a $4.00 annualized dividend and a yield of 2.3%. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.91. Marathon Petroleum’s dividend payout ratio (DPR) is presently 42.64%.

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.