Deutsche Bank AG Cuts Holdings in Marathon Petroleum Corporation (NYSE:MPC)

Key Points

• Deutsche Bank AG has decreased its ownership in Marathon Petroleum Corporation (MPC) by 19.0%, selling 225,117 shares and holding 962,401 shares valued at approximately $140.2 million as of its latest SEC filing.
• Marathon Petroleum reported $3.96 earnings per share (EPS) for the quarter, exceeding analyst expectations of $3.22, despite a year-over-year revenue decline of 11.1%.
• The company announced a quarterly dividend of $0.91 per share, resulting in a 2.3% dividend yield with a payout ratio of 54.01%.

Deutsche Bank AG reduced its position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 19.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 962,401 shares of the oil and gas company's stock after selling 225,117 shares during the quarter. Deutsche Bank AG owned about 0.31% of Marathon Petroleum worth $140,212,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Fourth Dimension Wealth LLC acquired a new stake in shares of Marathon Petroleum during the fourth quarter valued at about $26,000. CBIZ Investment Advisory Services LLC lifted its holdings in Marathon Petroleum by 1,546.2% in the first 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 during the last quarter. Hughes Financial Services LLC bought a new position in Marathon Petroleum in the first quarter worth about $32,000. Decker Retirement Planning Inc. lifted its holdings in Marathon Petroleum by 1,621.4% in the first 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 during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Marathon Petroleum during the first quarter valued at approximately $35,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Price Performance

NYSE MPC opened at $160.95 on Friday. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $183.10. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.73 and a current ratio of 1.23. The stock has a market capitalization of $48.93 billion, a P/E ratio of 23.88, a P/E/G ratio of 2.80 and a beta of 0.90. The business's fifty day moving average is $169.25 and its two-hundred day moving average is $153.74.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its earnings results 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 company had revenue of $34.10 billion for the quarter, compared to the consensus estimate of $31.70 billion. During the same period in the previous year, the business earned $4.12 EPS. The company's revenue was down 11.1% on a year-over-year basis. On average, research analysts forecast 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. Shareholders of record on Wednesday, August 20th will be paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Wednesday, August 20th. Marathon Petroleum's payout ratio is 54.01%.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 7,392 shares of the business's stock in a transaction 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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.21% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Mizuho lifted their price target on Marathon Petroleum from $168.00 to $184.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. Wolfe Research lowered shares of Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. Dbs Bank upgraded shares of Marathon Petroleum to a "moderate buy" rating in a research note on Monday, July 28th. Wells Fargo & Company raised their price objective on shares of Marathon Petroleum from $182.00 to $205.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Finally, Evercore ISI started coverage on shares of Marathon Petroleum in a research note on Wednesday, June 18th. They set an "in-line" rating and a $170.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $185.29.

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.

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