First Interstate Bank Purchases Shares of 26,200 Marathon Petroleum Corporation $MPC

First Interstate Bank acquired a new position in shares of Marathon Petroleum Corporation (NYSE:MPC) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 26,200 shares of the oil and gas company’s stock, valued at approximately $5,050,000.

Several other hedge funds have also made changes to their positions in MPC. McAdam LLC grew its holdings in shares of Marathon Petroleum by 1.3% during the 3rd quarter. McAdam LLC now owns 8,874 shares of the oil and gas company’s stock worth $1,710,000 after purchasing an additional 112 shares in the last quarter. Sage Mountain Advisors LLC boosted its stake in Marathon Petroleum by 128.5% during the third quarter. Sage Mountain Advisors LLC now owns 5,164 shares of the oil and gas company’s stock worth $995,000 after buying an additional 2,904 shares in the last quarter. Dynasty Wealth Management LLC increased its holdings in Marathon Petroleum by 134.8% in the 3rd quarter. Dynasty Wealth Management LLC now owns 17,093 shares of the oil and gas company’s stock valued at $3,294,000 after buying an additional 9,812 shares during the period. Root Financial Partners LLC acquired a new position in shares of Marathon Petroleum in the 3rd quarter valued at $255,000. Finally, Arkadios Wealth Advisors lifted its holdings in shares of Marathon Petroleum by 4.1% during the 3rd quarter. Arkadios Wealth Advisors now owns 10,659 shares of the oil and gas company’s stock worth $2,055,000 after acquiring an additional 420 shares during the period. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Down 0.5%

NYSE MPC opened at $174.76 on Wednesday. The stock’s 50 day simple moving average is $180.90 and its 200 day simple moving average is $180.77. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $202.29. The firm has a market cap of $52.53 billion, a PE ratio of 18.63, a price-to-earnings-growth ratio of 0.72 and a beta of 0.74. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.32 and a quick ratio of 0.79.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data 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. Marathon Petroleum had a return on equity of 9.76% and a net margin of 2.13%.The company had revenue of $34.81 billion for the quarter, compared to analyst estimates of $31.06 billion. As a group, sell-side analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MPC. Piper Sandler lowered their target price on shares of Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. Wells Fargo & Company dropped their target price on Marathon Petroleum from $214.00 to $213.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Marathon Petroleum in a research note on Wednesday, October 8th. Scotiabank reiterated an “outperform” rating and issued a $174.00 price target on shares of Marathon Petroleum in a research report on Friday. Finally, UBS Group lifted their price objective on Marathon Petroleum from $203.00 to $220.00 and gave the company a “buy” rating in a report on Friday, September 26th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $195.71.

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.