First Interstate Bank Sells 2,826 Shares of Marathon Petroleum Corporation $MPC

First Interstate Bank reduced its stake in Marathon Petroleum Corporation (NYSE:MPC) by 26.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 quarter.

Other large investors also recently modified their holdings of the company. Navalign LLC acquired a new stake in Marathon Petroleum during the fourth quarter worth approximately $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Marathon Petroleum during the fourth quarter worth approximately $31,000. Berbice Capital Management LLC grew its position in shares of Marathon Petroleum by 100.0% in the fourth quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 100 shares during the last quarter. WFA of San Diego LLC acquired a new position in shares of Marathon Petroleum in the second quarter valued at approximately $33,000. Finally, Ares Financial Consulting LLC bought a new position in shares of Marathon Petroleum during the fourth quarter worth approximately $34,000. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Price Performance

Shares of NYSE MPC opened at $280.44 on Thursday. The stock has a market capitalization of $81.87 billion, a PE ratio of 18.31, a P/E/G ratio of 0.39 and a beta of 0.52. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.18 and a quick ratio of 0.73. The business has a fifty day moving average price of $254.97 and a two-hundred day moving average price of $221.25. Marathon Petroleum Corporation has a fifty-two week low of $158.00 and a fifty-two week high of $281.25.

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

Marathon Petroleum Dividend Announcement

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

Analyst Ratings Changes

Several analysts recently weighed in on the company. Scotiabank lifted their price target on Marathon Petroleum from $174.00 to $210.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 22nd. Piper Sandler upped their price objective on Marathon Petroleum from $197.00 to $228.00 and gave the company a “neutral” rating in a report on Thursday, April 9th. Morgan Stanley increased their price objective on Marathon Petroleum from $233.00 to $265.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. BMO Capital Markets reissued an “outperform” rating on shares of Marathon Petroleum in a report on Friday, June 12th. Finally, UBS Group set a $285.00 target price on shares of Marathon Petroleum in a research report on Wednesday, May 6th. Ten research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $272.62.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the stock in a transaction dated 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 sale, the vice president directly owned 16,900 shares in the company, valued at $4,543,058. This represents a 27.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.17% of the stock is owned by insiders.

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.