Bank of New York Mellon Corp Has $717.40 Million Stock Holdings in Marathon Petroleum Corporation $MPC

Key Points

• Bank of New York Mellon cut its Marathon Petroleum stake by 14.3% in the fourth quarter, but still held 4.41 million shares worth about $717.4 million. Institutional investors remain heavily involved, with about 76.77% of the stock owned by hedge funds and other institutions.
• Marathon Petroleum’s latest quarterly results beat expectations, reporting $1.65 EPS versus the $0.74 consensus and revenue of $34.2 billion, up 8.5% year over year. Analysts now expect strong full-year earnings, and the stock has a Moderate Buy consensus with a $268.50 target.
• The company declared a quarterly dividend of $1.00 per share, payable June 10, implying a $4.00 annualized payout and a 1.5% yield. Shares were trading near their 52-week high at $267.33, reflecting a strong recent run despite some insider selling.

Bank of New York Mellon Corp trimmed its holdings in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 14.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,411,214 shares of the oil and gas company's stock after selling 737,691 shares during the quarter. Bank of New York Mellon Corp owned about 1.47% of Marathon Petroleum worth $717,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Alberta Investment Management Corp acquired a new position in Marathon Petroleum during the 3rd quarter worth approximately $2,891,000. Diversified Trust Co. raised its stake in Marathon Petroleum by 39.3% during the 4th quarter. Diversified Trust Co. now owns 15,675 shares of the oil and gas company's stock worth $2,549,000 after buying an additional 4,419 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in Marathon Petroleum during the 3rd quarter worth approximately $1,004,000. USA Financial Formulas acquired a new position in Marathon Petroleum during the 4th quarter worth approximately $791,000. Finally, KKM Financial LLC raised its stake in Marathon Petroleum by 27.6% during the 3rd quarter. KKM Financial LLC now owns 26,202 shares of the oil and gas company's stock worth $5,050,000 after buying an additional 5,661 shares during the period. 76.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MPC. Citigroup upped their price target on Marathon Petroleum from $243.00 to $257.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 6th. Weiss Ratings downgraded Marathon Petroleum from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 6th. TD Cowen upped their price target on Marathon Petroleum to $320.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Scotiabank upped their price target on Marathon Petroleum from $174.00 to $210.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, April 22nd. Finally, BMO Capital Markets upped their price target on Marathon Petroleum from $255.00 to $290.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $268.50.

Marathon Petroleum Stock Performance

Shares of MPC opened at $267.33 on Thursday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.73 and a current ratio of 1.18. The stock has a 50 day moving average price of $242.03 and a two-hundred day moving average price of $209.17. The firm has a market capitalization of $78.04 billion, a P/E ratio of 17.45, a P/E/G ratio of 0.42 and a beta of 0.52. Marathon Petroleum Corporation has a 52 week low of $155.93 and a 52 week high of $272.46.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.91. The firm had revenue of $34.20 billion during the quarter, compared to analyst estimates of $33.42 billion. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The company's revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.24) EPS. Equities analysts forecast that Marathon Petroleum Corporation will post 30.05 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $4.00 annualized dividend and a dividend yield of 1.5%. Marathon Petroleum's dividend payout ratio is currently 26.11%.

Trending Headlines about Marathon Petroleum

Here are the key news stories impacting Marathon Petroleum this week:

• Positive Sentiment: MPC was highlighted in a Zacks “Strong Buy” growth stock list, which can attract momentum and growth-oriented buyers. Best Growth Stocks to Buy for June 3rd
• Positive Sentiment: Analysts and market commentary are focusing on Marathon’s West Coast refining assets as California fuel supply remains tight, suggesting a potential earnings tailwind if regional crack spreads stay strong. Can MPC's West Coast Assets Become a Bigger Earnings Driver?
• Positive Sentiment: Broader energy-market strength is supporting refiners like MPC, as crude prices rebound and refined-product markets tighten amid renewed Middle East supply concerns, which can improve refining margins. Marathon Petroleum's Top Safety Performance Recognized at AFPM Safety Awards
• Neutral Sentiment: Marathon Petroleum was recognized for top safety performance at AFPM awards, a positive operating headline but not an immediate earnings catalyst. Marathon Petroleum's Top Safety Performance Recognized at AFPM Safety Awards
• Neutral Sentiment: The stock has already had a strong multi-month run, so some investors may be weighing valuation after sizable gains even as fundamentals remain supportive. Marathon Petroleum (MPC) Valuation Check After Strong Multi‑Month Share Price Gains

Insider Activity

In other news, insider Ricky D. Hessling sold 1,810 shares of the company's stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $224.78, for a total value of $406,851.80. Following the completion of the transaction, the insider directly owned 10,188 shares of the company's stock, valued at $2,290,058.64. This represents a 15.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold 4,473 shares of company stock valued at $1,015,428 over the last three months. Corporate insiders own 0.17% of the company's stock.

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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