Marathon Petroleum Corporation $MPC Shares Sold by Amundi

Key Points

• Amundi has reduced its stake in Marathon Petroleum Corporation by 4.2%, holding approximately 2.69 million shares, valued at about $391.68 million as of the latest SEC filing.
• Several analysts have raised their price targets for Marathon Petroleum, with a consensus target price of $186.57 and eight analysts rating the stock as a Buy.
• Marathon Petroleum recently declared a quarterly dividend of $0.91 per share, resulting in an annualized payout of $3.64 and a yield of 2.0%.

Amundi cut its stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 4.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,688,470 shares of the oil and gas company's stock after selling 119,096 shares during the period. Amundi owned about 0.88% of Marathon Petroleum worth $391,683,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MPC. Fourth Dimension Wealth LLC bought a new position in Marathon Petroleum during the 4th quarter worth about $26,000. CBIZ Investment Advisory Services LLC grew its holdings in 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 position in Marathon Petroleum during the 1st quarter worth about $32,000. WPG Advisers LLC bought a new position in Marathon Petroleum during the 1st quarter worth about $32,000. Finally, Decker Retirement Planning Inc. grew its holdings in 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. 76.77% of the stock is currently owned by institutional investors.

Insider Activity at Marathon Petroleum

In other news, Director Kim K.W. Rucker sold 7,392 shares of Marathon Petroleum stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total transaction 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 $3,315,200. The trade was a 28.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the transaction, the insider directly owned 28,700 shares of the company's stock, valued at approximately $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on MPC shares. UBS Group increased their target price on shares of Marathon Petroleum from $175.00 to $203.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. Raymond James Financial restated an "outperform" rating and issued a $200.00 price target (up from $180.00) on shares of Marathon Petroleum in a report on Tuesday, July 15th. Mizuho raised their price target on shares of Marathon Petroleum from $168.00 to $184.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. TD Cowen lowered their price target on shares of Marathon Petroleum from $190.00 to $182.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Finally, Scotiabank restated an "outperform" rating on shares of Marathon Petroleum in a report on Friday, July 11th. Eight research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $186.57.

Marathon Petroleum Stock Performance

Shares of Marathon Petroleum stock traded up $0.70 during midday trading on Monday, hitting $180.98. The company had a trading volume of 2,006,676 shares, compared to its average volume of 2,580,094. The stock has a market cap of $55.02 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 3.64 and a beta of 0.97. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. The company has a fifty day simple moving average of $171.74 and a 200 day simple moving average of $156.17. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $183.50.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly 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 net margin of 1.58% and a return on equity of 8.38%. The company had revenue of $34.10 billion during the quarter, compared to analyst estimates of $31.70 billion. During the same period last year, the firm posted $4.12 EPS. Marathon Petroleum's revenue for the quarter was down 11.1% compared to the same quarter last year. As a group, analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company 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 dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Wednesday, August 20th. Marathon Petroleum's payout ratio is 54.01%.

About Marathon Petroleum

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.