AMF Tjanstepension AB Has $10.60 Million Stake in Marathon Petroleum Corporation (NYSE:MPC)

Key Points

• AMF Tjanstepension AB reduced its stake in Marathon Petroleum Corporation by 36.6% in the first quarter, now holding approximately $10.60 million in shares.
• Marathon Petroleum reported strong quarterly earnings with $3.96 EPS, exceeding analysts' expectations of $3.22, despite a 11.1% year-over-year decline in revenue.
• The company announced a quarterly dividend of $0.91 payable to shareholders on September 10th, representing an annualized yield of 2.3%.

AMF Tjanstepension AB lessened its stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 36.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 72,671 shares of the oil and gas company's stock after selling 41,992 shares during the quarter. AMF Tjanstepension AB's holdings in Marathon Petroleum were worth $10,597,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Fourth Dimension Wealth LLC bought a new stake in shares of Marathon Petroleum during the 4th quarter worth about $26,000. CBIZ Investment Advisory Services LLC boosted its stake in shares of Marathon Petroleum by 1,546.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company's stock worth $31,000 after acquiring an additional 201 shares in the last quarter. Hughes Financial Services LLC bought a new stake in shares of Marathon Petroleum during the 1st quarter worth about $32,000. Decker Retirement Planning Inc. boosted its stake in shares of Marathon Petroleum by 1,621.4% during the 1st quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company's stock worth $35,000 after acquiring an additional 227 shares in the last quarter. Finally, Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Marathon Petroleum during the 1st quarter worth about $35,000. Institutional investors own 76.77% of the company's stock.

Insider Activity

In other news, Director Kim K.W. Rucker sold 7,392 shares of the stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total value of $1,293,600.00. Following the completion of the transaction, the director directly owned 18,944 shares of the company's stock, valued at approximately $3,315,200. This represents a 28.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.21% of the company's stock.

Marathon Petroleum Stock Performance

Shares of MPC stock traded down $0.56 during mid-day trading on Friday, reaching $160.95. The stock had a trading volume of 1,278,171 shares, compared to its average volume of 1,963,470. The firm's 50 day simple moving average is $169.25 and its 200 day simple moving average is $153.74. The company has a quick ratio of 0.73, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $183.10. The firm has a market cap of $48.93 billion, a PE ratio of 23.88, a P/E/G ratio of 2.80 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.22 by $0.74. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%. The business had revenue of $34.10 billion during the quarter, compared to analysts' expectations of $31.70 billion. During the same period in the prior year, the firm posted $4.12 EPS. Marathon Petroleum's quarterly revenue was down 11.1% compared to the same quarter last year. On average, analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th will be issued a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.3%. Marathon Petroleum's dividend payout ratio is presently 54.01%.

Analysts Set New Price Targets

Several brokerages recently weighed in on MPC. Citigroup increased their target price on Marathon Petroleum from $144.00 to $182.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. TD Cowen decreased their target price on Marathon Petroleum from $190.00 to $182.00 and set a "buy" rating for the company in a research note on Wednesday. Wolfe Research downgraded Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. Wells Fargo & Company increased their target price on Marathon Petroleum from $182.00 to $205.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Finally, Morgan Stanley increased their target price on Marathon Petroleum from $160.00 to $182.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Marathon Petroleum currently has a consensus rating of "Hold" and a consensus price target of $185.29.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.