BI Asset Management Fondsmaeglerselskab A S Has $2.65 Million Holdings in Marathon Petroleum Corporation $MPC

Key Points

• BI Asset Management Fondsmaeglerselskab A S cut its Marathon Petroleum stake by 36.3% in the first quarter, selling 6,183 shares and leaving it with 10,871 shares worth about $2.65 million.
• Marathon Petroleum posted stronger-than-expected quarterly results, with EPS of $1.65 versus the $0.74 estimate and revenue of $34.2 billion, up 8.5% year over year.
• Analysts remain broadly positive on MPC, with a consensus “Moderate Buy” rating and an average price target of $272.94; the stock also recently paid a $1.00 quarterly dividend, or $4.00 annualized.

BI Asset Management Fondsmaeglerselskab A S lowered its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 36.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,871 shares of the oil and gas company's stock after selling 6,183 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Marathon Petroleum were worth $2,654,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Navalign LLC acquired a new stake in shares of Marathon Petroleum during the 4th quarter valued at about $30,000. Kohmann Bosshard Financial Services LLC acquired a new position in Marathon Petroleum in the fourth quarter worth about $31,000. Berbice Capital Management LLC raised its position in 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 worth $33,000 after purchasing an additional 100 shares in the last quarter. WFA of San Diego LLC acquired a new stake in Marathon Petroleum during the second quarter valued at approximately $33,000. Finally, Ares Financial Consulting LLC acquired a new stake in Marathon Petroleum during the fourth quarter valued at approximately $34,000. Institutional investors own 76.77% of the company's stock.

Marathon Petroleum Price Performance

Marathon Petroleum stock opened at $249.13 on Wednesday. The business's fifty day moving average is $246.18 and its two-hundred day moving average is $215.26. 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 firm has a market cap of $72.73 billion, a P/E ratio of 16.26, a P/E/G ratio of 0.38 and a beta of 0.52. Marathon Petroleum Corporation has a 52 week low of $158.00 and a 52 week high of $272.46.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced 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 company had revenue of $34.20 billion during the quarter, compared to analyst estimates of $33.42 billion. During the same period last year, the company posted ($0.24) earnings per share. The firm's quarterly revenue was up 8.5% compared to the same quarter last year. Equities research analysts forecast that Marathon Petroleum Corporation will post 31.35 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 1.6%. The ex-dividend date was Wednesday, May 20th. Marathon Petroleum's dividend payout ratio (DPR) is presently 26.11%.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the business's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $268.82, for a total value of $1,703,243.52. Following the completion of the transaction, the vice president directly owned 16,900 shares of the company's stock, valued at approximately $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.17% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Barclays increased their target price on Marathon Petroleum from $230.00 to $270.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. Scotiabank boosted their price target on Marathon Petroleum from $174.00 to $210.00 and gave the company a "sector outperform" rating in a research note on Wednesday, April 22nd. Wells Fargo & Company reiterated an "overweight" rating and set a $344.00 price objective on shares of Marathon Petroleum in a research note on Monday, June 15th. Morgan Stanley lifted their price objective on Marathon Petroleum from $233.00 to $265.00 and gave the company an "overweight" rating in a report on Friday, June 12th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Marathon Petroleum in a research note on Friday, June 12th. Ten equities research analysts have rated the stock with a Buy rating and nine have given 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 an average price target of $272.94.

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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