Commerce Bank Purchases New Holdings in Marathon Petroleum Corporation $MPC

Commerce Bank purchased a new position in shares of Marathon Petroleum Corporation (NYSE:MPC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 37,646 shares of the oil and gas company’s stock, valued at approximately $9,625,000.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Marathon Petroleum during the 2nd quarter worth $6,648,958,000. Bank of New York Mellon Corp acquired a new position in Marathon Petroleum in the second quarter valued at about $1,029,611,000. Norges Bank acquired a new position in Marathon Petroleum in the fourth quarter valued at about $472,312,000. Capital Wealth Planning LLC lifted its position in Marathon Petroleum by 49,392.0% during the fourth quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company’s stock worth $245,157,000 after purchasing an additional 1,495,097 shares during the period. Finally, Pacer Advisors Inc. lifted its position in Marathon Petroleum by 3,816.8% during the fourth quarter. Pacer Advisors Inc. now owns 1,306,749 shares of the oil and gas company’s stock worth $212,517,000 after purchasing an additional 1,273,386 shares during the period. Institutional investors own 76.77% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on MPC shares. Barclays boosted their target price on shares of Marathon Petroleum from $289.00 to $321.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Bank of America increased their price target on shares of Marathon Petroleum from $224.00 to $260.00 in a research report on Tuesday, May 26th. Jefferies Financial Group set a $335.00 price objective on shares of Marathon Petroleum and gave the company a “buy” rating in a research report on Sunday, July 12th. TD Cowen upped their target price on Marathon Petroleum from $357.00 to $375.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Finally, JPMorgan Chase & Co. raised their target price on Marathon Petroleum from $235.00 to $257.00 in a report on Wednesday, May 6th. Twelve research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $312.50.

Insider Buying and Selling

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

Marathon Petroleum Trading Up 0.4%

Shares of MPC stock opened at $362.18 on Monday. Marathon Petroleum Corporation has a twelve month low of $161.93 and a twelve month high of $367.60. The stock’s fifty day simple moving average is $297.25 and its 200 day simple moving average is $254.78. 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 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.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, beating 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 firm had revenue of $51.99 billion during the quarter, compared to the consensus estimate of $40.87 billion. During the same period last year, the company earned $3.96 earnings per share. The business’s quarterly revenue was up 53.5% on a year-over-year basis. As a group, sell-side analysts predict that Marathon Petroleum Corporation will post 46.66 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

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

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.