Amundi Has $572.17 Million Stock Position in Marathon Petroleum Corporation $MPC

Key Points

• Amundi increased its Marathon Petroleum position by 17.5% in the second quarter, purchasing 332,551 shares to hold 2.24 million shares worth approximately $572.2 million, or 0.77% of MPC.
• Analysts remain broadly positive, with 12 Buy ratings and five Holds producing a consensus “Moderate Buy” rating and an average price target of $322.44. Goldman Sachs, Barclays, and TD Cowen recently raised their targets.
• Marathon Petroleum reported strong quarterly results, earning $17.73 per share versus the $14.27 consensus estimate and generating $51.99 billion in revenue, up 53.5% year over year; it also declared a $1.00 quarterly dividend.

Amundi boosted its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 17.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,237,930 shares of the oil and gas company's stock after buying an additional 332,551 shares during the quarter. Amundi owned approximately 0.77% of Marathon Petroleum worth $572,172,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Solstein Capital LLC acquired a new position in shares of Marathon Petroleum in the second quarter valued at $26,000. Caitlin John LLC acquired a new position in shares of Marathon Petroleum in the second quarter valued at approximately $26,000. Bell Investment Advisors Inc acquired a new stake in Marathon Petroleum during the 2nd quarter worth approximately $27,000. Navalign LLC acquired a new position in Marathon Petroleum in the 4th quarter valued at $30,000. Finally, Berbice Capital Management LLC lifted its holdings in shares of Marathon Petroleum by 100.0% during the fourth quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company's stock worth $33,000 after buying an additional 100 shares in the last quarter. Institutional investors own 76.77% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. The Goldman Sachs Group raised their price target on shares of Marathon Petroleum from $291.00 to $376.00 and gave the stock a "buy" rating in a research report on Wednesday, July 22nd. Wall Street Zen upgraded Marathon Petroleum from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 10th. Barclays lifted their price objective on Marathon Petroleum from $289.00 to $321.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. Weiss Ratings raised Marathon Petroleum from a "hold (c+)" rating to a "buy (b)" rating in a research note on Wednesday, August 5th. Finally, TD Cowen upped their target price on Marathon Petroleum from $357.00 to $375.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Twelve investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $322.44.

Marathon Petroleum Stock Up 0.2%

MPC opened at $389.86 on Monday. Marathon Petroleum Corporation has a fifty-two week low of $161.93 and a fifty-two week high of $398.52. The company's 50-day moving average is $322.31 and its 200 day moving average is $266.96. The firm has a market capitalization of $113.82 billion, a P/E ratio of 13.40, a PEG ratio of 0.25 and a beta of 0.53. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, topping the consensus estimate of $14.27 by $3.46. The business had revenue of $51.99 billion for the quarter, compared to analyst estimates of $40.87 billion. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The company's revenue for the quarter was up 53.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.96 earnings per share. Research analysts expect that Marathon Petroleum Corporation will post 47.23 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Wednesday, August 19th. Marathon Petroleum's dividend payout ratio is presently 13.75%.

Insiders Place Their Bets

In related news, VP Erin M. Brzezinski sold 570 shares of the firm's stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $362.79, for a total value of $206,790.30. Following the completion of the sale, the vice president owned 1,576 shares of the company's stock, valued at $571,757.04. This trade represents a 26.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Molly R. Benson sold 17,196 shares of the company's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $358.57, for a total transaction of $6,165,969.72. Following the completion of the sale, the insider owned 30,334 shares in the company, valued at approximately $10,876,862.38. This trade represents a 36.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 21,691 shares of company stock valued at $7,780,127 over the last quarter. 0.17% of the stock is owned by corporate insiders.

About Marathon Petroleum

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.

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