Marathon Petroleum Corporation $MPC Shares Sold by Credit Agricole S A

Key Points

• Credit Agricole S A sold 103,562 shares of Marathon Petroleum Corporation, reducing its stake by 75.2% and leaving it with 34,107 shares valued at approximately $4.97 million.
• Marathon Petroleum reported $3.96 earnings per share for the quarter, exceeding estimates, but revenue was down 11.1% compared to the previous year, with a total of $34.10 billion.
• The company announced a quarterly dividend of $0.91 per share, translating to an annualized dividend of $3.64 and a dividend yield of 2.1% for investors.

Credit Agricole S A reduced its stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 75.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,107 shares of the oil and gas company's stock after selling 103,562 shares during the quarter. Credit Agricole S A's holdings in Marathon Petroleum were worth $4,969,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Good Steward Wealth Advisors LLC purchased a new stake in shares of Marathon Petroleum during the first quarter valued at $346,000. Silver Oak Securities Incorporated purchased a new stake in shares of Marathon Petroleum during the first quarter valued at $339,000. Financial Partners Group LLC boosted its stake in shares of Marathon Petroleum by 65.8% during the first quarter. Financial Partners Group LLC now owns 3,937 shares of the oil and gas company's stock valued at $574,000 after purchasing an additional 1,563 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in shares of Marathon Petroleum by 8.0% during the first quarter. Oppenheimer Asset Management Inc. now owns 44,387 shares of the oil and gas company's stock valued at $6,467,000 after purchasing an additional 3,291 shares during the period. Finally, Weatherly Asset Management L. P. purchased a new stake in Marathon Petroleum in the first quarter worth about $216,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Kim K.W. Rucker sold 7,392 shares of the stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total value of $1,293,600.00. Following the transaction, the director owned 18,944 shares in the company, valued at approximately $3,315,200. This represents a 28.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Molly R. Benson sold 10,879 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the completion of the transaction, the insider owned 28,700 shares in the company, valued at approximately $4,678,100. This trade represents a 27.49% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company's stock.

Marathon Petroleum Stock Up 2.4%

Shares of MPC stock traded up $4.22 during mid-day trading on Wednesday, hitting $177.73. 978,179 shares of the stock traded hands, compared to its average volume of 2,606,630. The stock has a market cap of $54.03 billion, a P/E ratio of 26.37, a P/E/G ratio of 3.13 and a beta of 0.90. The stock's fifty day moving average is $169.78 and its two-hundred day moving average is $154.84. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $183.10. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71.

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

Marathon Petroleum Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Wednesday, August 20th. This represents a $3.64 annualized dividend and a dividend yield of 2.0%. Marathon Petroleum's dividend payout ratio is 54.01%.

Analyst Ratings Changes

MPC has been the subject of a number of research reports. Scotiabank reaffirmed an "outperform" rating on shares of Marathon Petroleum in a research note on Friday, July 11th. Wells Fargo & Company upped their price objective on shares of Marathon Petroleum from $182.00 to $205.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Mizuho upped their price objective on shares of Marathon Petroleum from $168.00 to $184.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. Evercore ISI initiated coverage on shares of Marathon Petroleum in a research note on Wednesday, June 18th. They issued an "in-line" rating and a $170.00 price objective for the company. Finally, TD Cowen lowered their price objective on shares of Marathon Petroleum from $190.00 to $182.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. Eight analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $185.29.

Marathon Petroleum 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.