Legacy Trust Acquires Shares of 3,001 Marathon Petroleum Corporation $MPC

Legacy Trust bought a new position in shares of Marathon Petroleum Corporation (NYSE:MPC) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,001 shares of the oil and gas company’s stock, valued at approximately $578,000.

Several other hedge funds and other institutional investors also recently modified their holdings of MPC. Trueblood Wealth Management LLC boosted its holdings in Marathon Petroleum by 2.0% in the 3rd quarter. Trueblood Wealth Management LLC now owns 5,827 shares of the oil and gas company’s stock worth $1,123,000 after buying an additional 114 shares during the period. Oregon Public Employees Retirement Fund lifted its position in shares of Marathon Petroleum by 31.4% during the third quarter. Oregon Public Employees Retirement Fund now owns 34,782 shares of the oil and gas company’s stock worth $6,704,000 after acquiring an additional 8,303 shares in the last quarter. Nova R Wealth Inc. purchased a new stake in shares of Marathon Petroleum during the third quarter worth $232,000. Joseph Group Capital Management boosted its holdings in shares of Marathon Petroleum by 6.8% in the third quarter. Joseph Group Capital Management now owns 23,399 shares of the oil and gas company’s stock worth $4,510,000 after acquiring an additional 1,495 shares during the period. Finally, Steigerwald Gordon & Koch Inc. purchased a new position in shares of Marathon Petroleum in the third quarter valued at $105,000. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Down 0.4%

MPC stock opened at $176.39 on Friday. The company’s 50 day moving average is $183.16 and its 200 day moving average is $180.34. The stock has a market cap of $53.02 billion, a price-to-earnings ratio of 18.80, a price-to-earnings-growth ratio of 0.67 and a beta of 0.74. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 1.31. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $202.29.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 EPS for the quarter, topping analysts’ consensus estimates of $3.00 by $0.01. The business had revenue of $34.81 billion during the quarter, compared to analysts’ expectations of $31.06 billion. Marathon Petroleum had a net margin of 2.13% and a return on equity of 9.76%. Sell-side analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Wednesday, November 19th were paid a $1.00 dividend. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.91. This represents a $4.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Wednesday, November 19th. Marathon Petroleum’s payout ratio is currently 42.64%.

Analysts Set New Price Targets

MPC has been the topic of a number of recent research reports. Zacks Research raised Marathon Petroleum from a “hold” rating to a “strong-buy” rating in a report on Monday, January 5th. BMO Capital Markets reiterated an “outperform” rating on shares of Marathon Petroleum in a research report on Tuesday, December 9th. Wall Street Zen lowered shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Raymond James Financial reduced their price objective on shares of Marathon Petroleum from $215.00 to $205.00 and set an “outperform” rating for the company in a research note on Monday, December 22nd. Finally, Scotiabank reiterated an “outperform” rating on shares of Marathon Petroleum in a research note on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $199.71.

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.