Commerce Bank Purchases Shares of 37,646 Marathon Petroleum Corporation $MPC

Commerce Bank purchased a new stake in Marathon Petroleum Corporation (NYSE:MPC) in the 2nd quarter, HoldingsChannel reports. The fund purchased 37,646 shares of the oil and gas company’s stock, valued at approximately $9,625,000.

A number of other hedge funds also recently made changes to their positions in MPC. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Marathon Petroleum in the second quarter worth approximately $11,982,000. Evolve Private Wealth LLC acquired a new stake in Marathon Petroleum during the 2nd quarter valued at approximately $673,000. WealthShield Partners LLC bought a new position in Marathon Petroleum during the 2nd quarter worth approximately $1,871,000. Madison Wealth Partners Inc bought a new position in Marathon Petroleum during the 2nd quarter worth approximately $278,000. Finally, Emerald Investment Advisers LLC acquired a new position in shares of Marathon Petroleum in the 2nd quarter worth approximately $10,133,000. 76.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. BMO Capital Markets reaffirmed an “outperform” rating on shares of Marathon Petroleum in a research note on Friday, June 12th. Piper Sandler lifted their target price on shares of Marathon Petroleum from $343.00 to $344.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. UBS Group restated a “buy” rating and issued a $321.00 target price on shares of Marathon Petroleum in a report on Friday, July 10th. JPMorgan Chase & Co. increased their price target on Marathon Petroleum from $235.00 to $257.00 in a report on Wednesday, May 6th. Finally, Raymond James Financial lifted their price objective on Marathon Petroleum from $300.00 to $335.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $312.50.

Insider Transactions at Marathon Petroleum

In other news, SVP Shawn M. Lyon sold 2,500 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $350.00, for a total transaction of $875,000.00. Following the transaction, the senior vice president owned 12,619 shares of the company’s stock, valued at $4,416,650. This represents a 16.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $268.82, for a total value of $1,703,243.52. Following the completion of the sale, the vice president owned 16,900 shares of the company’s stock, valued at approximately $4,543,058. This represents a 27.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.17% of the stock is owned by corporate insiders.

Marathon Petroleum Stock Performance

NYSE:MPC opened at $362.18 on Monday. The company has a fifty day moving average of $297.25 and a 200-day moving average of $254.78. The firm has a market capitalization of $105.73 billion, a P/E ratio of 12.45, a P/E/G ratio of 0.23 and a beta of 0.52. 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 twelve month low of $161.93 and a twelve month high of $367.60.

Marathon Petroleum (NYSE:MPC) last issued its earnings results 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. The business had revenue of $51.99 billion for the quarter, compared to analyst estimates of $40.87 billion. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. Marathon Petroleum’s revenue was up 53.5% on a year-over-year basis. During the same period in the prior year, the firm earned $3.96 earnings per share. As a group, sell-side analysts anticipate that Marathon Petroleum Corporation will post 46.66 EPS for the current year.

Marathon Petroleum Dividend Announcement

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

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.