Deutsche Bank AG Purchases Shares of 1,098,138 Marathon Petroleum Corporation $MPC

Key Points

• Deutsche Bank acquired 1.10 million Marathon Petroleum shares worth approximately $280.8 million, giving it a 0.38% stake. Institutional investors and hedge funds collectively own 76.77% of MPC.
• Analysts maintain a generally positive outlook, with 12 Buy ratings and six Holds. Marathon Petroleum has a “Moderate Buy” consensus rating and an average price target of $312.50.
• Marathon Petroleum reported quarterly EPS of $17.73, beating estimates by $3.46, while revenue rose 53.5% year over year to $51.99 billion. The company also declared a quarterly dividend of $1.00 per share, representing a 1.1% yield.

Deutsche Bank AG acquired a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,098,138 shares of the oil and gas company's stock, valued at approximately $280,761,000. Deutsche Bank AG owned about 0.38% of Marathon Petroleum as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of MPC. Bell Investment Advisors Inc acquired a new stake in shares of Marathon Petroleum during the second quarter worth $27,000. Main Street Group LTD acquired a new position in shares of Marathon Petroleum in the 1st quarter valued at $35,000. Cedar Mountain Advisors LLC acquired a new position in shares of Marathon Petroleum in the 1st quarter valued at $40,000. Navalign LLC purchased a new position in Marathon Petroleum in the 4th quarter worth about $30,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in Marathon Petroleum in the 4th quarter worth about $31,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MPC has been the subject of a number of analyst reports. Raymond James Financial upped their price objective on shares of Marathon Petroleum from $300.00 to $335.00 and gave the company an "outperform" rating in a research note on Monday, July 13th. TD Cowen lifted their target price on shares of Marathon Petroleum from $357.00 to $375.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Jefferies Financial Group set a $335.00 price target on shares of Marathon Petroleum and gave the company a "buy" rating in a report on Sunday, July 12th. Scotiabank upped their price target on shares of Marathon Petroleum from $174.00 to $210.00 and gave the company a "sector outperform" rating in a research report on Wednesday, April 22nd. Finally, Zacks Research lowered shares of Marathon Petroleum from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 17th. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $312.50.

Insiders Place Their Bets

In related news, SVP Shawn M. Lyon sold 2,500 shares of Marathon Petroleum stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $350.00, for a total value of $875,000.00. Following the completion of the sale, the senior vice president owned 12,619 shares of the company's stock, valued at approximately $4,416,650. The trade was a 16.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael A. Henschen II sold 6,336 shares of the company's stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the completion of the sale, the vice president owned 16,900 shares of the company's stock, valued at $4,543,058. This represents a 27.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.17% of the stock is currently owned by company insiders.

Marathon Petroleum Trading Up 2.4%

NYSE:MPC opened at $366.79 on Wednesday. The stock's 50 day moving average price is $291.36 and its 200 day moving average price is $250.88. Marathon Petroleum Corporation has a 52 week low of $161.80 and a 52 week high of $367.24. The company has a market capitalization of $107.08 billion, a P/E ratio of 12.61, a P/E/G ratio of 0.23 and a beta of 0.52. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.89 and a current ratio of 1.25.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, beating the consensus estimate of $14.27 by $3.46. The firm 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 last year, the firm earned $3.96 earnings per share. On average, research analysts forecast that Marathon Petroleum Corporation will post 46.66 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be issued a dividend of $1.00 per share. The ex-dividend date is Wednesday, August 19th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.1%. Marathon Petroleum's dividend payout ratio (DPR) is currently 13.75%.

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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