First Interstate Bank Has $1.94 Million Stock Position in Marathon Petroleum Corporation $MPC

First Interstate Bank reduced its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 26.2% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 7,949 shares of the oil and gas company’s stock after selling 2,826 shares during the period. First Interstate Bank’s holdings in Marathon Petroleum were worth $1,941,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Hunter Associates Investment Management LLC grew its position in Marathon Petroleum by 1.6% in the first quarter. Hunter Associates Investment Management LLC now owns 3,220 shares of the oil and gas company’s stock valued at $786,000 after acquiring an additional 50 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its holdings in shares of Marathon Petroleum by 2.6% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 2,050 shares of the oil and gas company’s stock worth $333,000 after acquiring an additional 51 shares during the last quarter. IFG Advisory LLC boosted its stake in shares of Marathon Petroleum by 1.5% in the 4th quarter. IFG Advisory LLC now owns 3,429 shares of the oil and gas company’s stock valued at $558,000 after purchasing an additional 51 shares in the last quarter. Eagle Bluffs Wealth Management LLC boosted its stake in shares of Marathon Petroleum by 1.2% in the 4th quarter. Eagle Bluffs Wealth Management LLC now owns 4,357 shares of the oil and gas company’s stock valued at $709,000 after purchasing an additional 52 shares in the last quarter. Finally, Auxano Advisors LLC grew its holdings in shares of Marathon Petroleum by 2.1% during the 4th quarter. Auxano Advisors LLC now owns 2,630 shares of the oil and gas company’s stock valued at $428,000 after purchasing an additional 55 shares during the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the completion of the transaction, the vice president directly owned 16,900 shares of the company’s stock, valued at $4,543,058. This trade represents a 27.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is owned by insiders.

Marathon Petroleum Stock Up 5.3%

Shares of NYSE MPC opened at $280.44 on Thursday. The company has a 50 day simple moving average of $254.97 and a 200 day simple moving average of $221.25. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.18 and a quick ratio of 0.73. Marathon Petroleum Corporation has a 1 year low of $158.00 and a 1 year high of $281.25. The firm has a market cap of $81.87 billion, a PE ratio of 18.31, a price-to-earnings-growth ratio of 0.39 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.91. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The firm had revenue of $34.20 billion for the quarter, compared to analyst estimates of $33.42 billion. During the same period in the previous year, the firm posted ($0.24) EPS. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, research analysts forecast that Marathon Petroleum Corporation will post 32.96 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were paid a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $4.00 annualized dividend and a dividend yield of 1.4%. Marathon Petroleum’s payout ratio is currently 26.11%.

Wall Street Analysts Forecast Growth

MPC has been the subject of a number of research analyst reports. Wells Fargo & Company reiterated an “overweight” rating and set a $344.00 price objective on shares of Marathon Petroleum in a research report on Monday, June 15th. BMO Capital Markets restated an “outperform” rating on shares of Marathon Petroleum in a research report on Friday, June 12th. Zacks Research cut shares of Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 17th. Piper Sandler upped their price target on shares of Marathon Petroleum from $197.00 to $228.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. Finally, Bank of America increased their price target on Marathon Petroleum from $224.00 to $260.00 in a research note on Tuesday, May 26th. Ten research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $272.62.

About Marathon Petroleum

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.