Kentucky Farm Bureau Mutual Insurance Co Acquires Shares of 15,000 Marathon Petroleum Corporation $MPC

Kentucky Farm Bureau Mutual Insurance Co acquired a new position in shares of Marathon Petroleum Corporation (NYSE:MPC) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 15,000 shares of the oil and gas company’s stock, valued at approximately $3,835,000. Marathon Petroleum accounts for about 1.1% of Kentucky Farm Bureau Mutual Insurance Co’s investment portfolio, making the stock its 25th largest holding.

Other institutional investors have also recently bought and sold shares of the company. Bell Investment Advisors Inc acquired a new stake in Marathon Petroleum in the second quarter worth $27,000. Navalign LLC acquired a new stake in Marathon Petroleum during the 4th quarter worth $30,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Marathon Petroleum during the 4th quarter worth $31,000. Berbice Capital Management LLC grew its stake in Marathon Petroleum by 100.0% in the fourth quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 100 shares during the period. Finally, WFA of San Diego LLC acquired a new position in Marathon Petroleum in the second quarter valued at about $33,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

Shares of NYSE MPC opened at $361.02 on Thursday. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19. The business’s 50 day moving average price is $293.31 and its two-hundred day moving average price is $252.19. The company has a market cap of $105.40 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 0.24 and a beta of 0.52. Marathon Petroleum Corporation has a twelve month low of $161.93 and a twelve month high of $367.24.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 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 company had revenue of $51.99 billion during the quarter, compared to the consensus estimate of $40.87 billion. During the same period in the previous year, the company posted $3.96 EPS. The firm’s revenue for the quarter was up 53.5% compared to the same quarter last year. On average, analysts predict that Marathon Petroleum Corporation will post 46.66 EPS for the current year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be paid a $1.00 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $4.00 annualized dividend and a yield of 1.1%. Marathon Petroleum’s payout ratio is 13.75%.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, SVP Shawn M. Lyon sold 2,500 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $350.00, for a total value of $875,000.00. Following the transaction, the senior vice president directly owned 12,619 shares of the company’s stock, valued at $4,416,650. This represents a 16.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Michael A. Henschen II sold 6,336 shares of the stock in a transaction 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 transaction, the vice president owned 16,900 shares in the company, valued at $4,543,058. The trade was a 27.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on MPC shares. Raymond James Financial raised their price target on Marathon Petroleum from $300.00 to $335.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. Piper Sandler increased their target price on Marathon Petroleum from $343.00 to $344.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Wall Street Zen upgraded shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 10th. Morgan Stanley lifted their price target on shares of Marathon Petroleum from $233.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. Finally, Zacks Research downgraded shares of Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 17th. Twelve research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $312.50.

Marathon Petroleum Company 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.