Bath Savings Trust Co Buys 3,405 Shares of Marathon Petroleum Corporation $MPC

Bath Savings Trust Co bought a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC) in the third quarter, Holdings Channel.com reports. The fund bought 3,405 shares of the oil and gas company’s stock, valued at approximately $1,346,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Marathon Petroleum in the 2nd quarter worth about $6,648,958,000. Bank of New York Mellon Corp purchased a new stake in shares of Marathon Petroleum in the second quarter valued at approximately $1,029,611,000. Bank of America Corp DE increased its holdings in Marathon Petroleum by 1.6% during the 1st quarter. Bank of America Corp DE now owns 2,595,084 shares of the oil and gas company’s stock worth $633,668,000 after purchasing an additional 40,124 shares during the period. Amundi raised its position in Marathon Petroleum by 17.5% during the 2nd quarter. Amundi now owns 2,237,930 shares of the oil and gas company’s stock valued at $572,172,000 after purchasing an additional 332,551 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Marathon Petroleum by 16.7% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,508,489 shares of the oil and gas company’s stock worth $385,675,000 after buying an additional 215,686 shares during the period. Institutional investors own 76.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Bank of America increased their price target on Marathon Petroleum from $410.00 to $426.00 and gave the stock a “neutral” rating in a research report on Friday, October 2nd. UBS Group reaffirmed a “buy” rating on shares of Marathon Petroleum in a research note on Thursday, October 1st. Weiss Ratings raised shares of Marathon Petroleum from a “hold (c+)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Citigroup restated a “neutral” rating on shares of Marathon Petroleum in a report on Friday, October 2nd. Finally, Evercore set a $330.00 price objective on shares of Marathon Petroleum in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Marathon Petroleum currently has an average rating of “Moderate Buy” and an average price target of $370.38.

Marathon Petroleum Stock Up 2.2%

MPC stock traded up $9.52 during trading on Wednesday, reaching $441.88. 1,923,747 shares of the company traded hands, compared to its average volume of 2,499,254. The business has a 50 day simple moving average of $372.02 and a 200 day simple moving average of $296.69. Marathon Petroleum Corporation has a 12 month low of $161.93 and a 12 month high of $444.99. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.89 and a current ratio of 1.25. The company has a market capitalization of $129.00 billion, a price-to-earnings ratio of 15.19, a price-to-earnings-growth ratio of 0.13 and a beta of 0.54.

Marathon Petroleum (NYSE:MPC) last released its quarterly 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 net margin of 5.48% and a return on equity of 31.96%. The business had revenue of $51.99 billion during the quarter, compared to analyst estimates of $40.87 billion. During the same period in the prior year, the firm posted $3.96 earnings per share. The company’s quarterly revenue was up 53.5% on a year-over-year basis. On average, equities research analysts anticipate that Marathon Petroleum Corporation will post 61.31 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, August 19th. Marathon Petroleum’s payout ratio is currently 13.75%.

Insider Transactions at Marathon Petroleum

In other news, VP Erin M. Brzezinski sold 570 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $362.79, for a total transaction of $206,790.30. Following the completion of the sale, the vice president owned 1,576 shares in the company, valued at approximately $571,757.04. This represents a 26.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Shawn Lyon sold 2,500 shares of the business’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 owned 12,619 shares in the company, valued at approximately $4,416,650. This trade represents a 16.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 21,691 shares of company stock valued at $7,780,127. Corporate insiders own 0.17% of the company’s stock.

Marathon Petroleum Profile

Marathon Petroleum Corporation (NYSE:MPC) is an integrated downstream energy company engaged primarily in refining, marketing and transporting petroleum products. The company converts crude oil and other feedstocks into gasoline, diesel, jet fuel, asphalt, propane and other refined products used by consumers, businesses and industrial customers.

Marathon Petroleum operates refineries and related logistics assets in the United States, with a refining and marketing presence serving markets across the Midwest, Gulf Coast and West Coast.