Geode Capital Management LLC Decreases Stock Position in Marathon Petroleum Corporation $MPC

Key Points

• Geode Capital Management reduced its Marathon Petroleum position by 1.9% in the fourth quarter, selling 151,345 shares and ending with 7.77 million shares valued at about $1.26 billion.
• Marathon Petroleum reported strong first-quarter results, with EPS of $1.65 versus the $0.74 estimate and revenue of $34.2 billion, topping expectations and rising 8.5% year over year.
• Analysts remain broadly upbeat: several firms raised price targets, and the stock now carries a consensus rating of Moderate Buy with an average target price of $268.50.

Geode Capital Management LLC cut its holdings in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,769,469 shares of the oil and gas company's stock after selling 151,345 shares during the quarter. Geode Capital Management LLC owned about 2.58% of Marathon Petroleum worth $1,258,627,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV increased its holdings in shares of Marathon Petroleum by 2.6% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 2,050 shares of the oil and gas company's stock valued at $333,000 after purchasing an additional 51 shares during the period. Auxano Advisors LLC increased its holdings in shares of Marathon Petroleum by 2.1% in the fourth quarter. Auxano Advisors LLC now owns 2,630 shares of the oil and gas company's stock valued at $428,000 after purchasing an additional 55 shares during the period. Fifth Third Wealth Advisors LLC increased its holdings in shares of Marathon Petroleum by 0.6% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 10,287 shares of the oil and gas company's stock valued at $1,673,000 after purchasing an additional 57 shares during the period. Legacy Bridge LLC increased its holdings in shares of Marathon Petroleum by 12.5% in the fourth quarter. Legacy Bridge LLC now owns 523 shares of the oil and gas company's stock valued at $85,000 after purchasing an additional 58 shares during the period. Finally, Koshinski Asset Management Inc. increased its holdings in shares of Marathon Petroleum by 0.7% in the fourth quarter. Koshinski Asset Management Inc. now owns 8,116 shares of the oil and gas company's stock valued at $1,320,000 after purchasing an additional 59 shares during the period. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Marathon Petroleum

In other news, insider Ricky D. Hessling sold 1,810 shares of the firm'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 transaction, the insider owned 10,188 shares in the company, valued at $2,290,058.64. This trade 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 through this link. Insiders sold a total of 4,473 shares of company stock valued at $1,015,428 in the last quarter. Company insiders own 0.17% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on MPC shares. Bank of America increased their price objective on Marathon Petroleum from $224.00 to $260.00 in a report on Tuesday. Jefferies Financial Group increased their price objective on Marathon Petroleum from $279.00 to $296.00 and gave the company a "buy" rating in a report on Tuesday. Raymond James Financial reissued an "outperform" rating on shares of Marathon Petroleum in a report on Wednesday, May 6th. TD Cowen increased their price objective on Marathon Petroleum to $320.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Finally, Weiss Ratings lowered Marathon Petroleum from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to 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 stock opened at $251.71 on Friday. The company has a market capitalization of $73.48 billion, a P/E ratio of 16.43, a P/E/G ratio of 0.40 and a beta of 0.53. The business's 50 day moving average is $240.01 and its two-hundred day moving average is $207.41. The company has a current ratio of 1.18, a quick ratio of 0.73 and a debt-to-equity ratio of 1.31. Marathon Petroleum Corporation has a 12-month low of $155.93 and a 12-month high of $264.14.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.91. The business had revenue of $34.20 billion for the quarter, compared to the consensus estimate of $33.42 billion. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The business's quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.24) earnings per share. Analysts expect that Marathon Petroleum Corporation will post 30.05 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

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

Marathon Petroleum News Summary

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

• Positive Sentiment: Marathon Petroleum was upgraded to Zacks Rank #1 (Strong Buy), signaling stronger earnings outlook and possible near-term upside. What Makes Marathon Petroleum (MPC) a New Strong Buy Stock
• Positive Sentiment: MPC was also included on Zacks’ Strong Buy momentum stocks list, reinforcing short-term bullish sentiment. Best Momentum Stock to Buy for May 28th
• Positive Sentiment: The stock was added to Zacks’ Strong Buy value list, which may support investor interest from value-focused buyers. Best Value Stock to Buy for May 28th
• Positive Sentiment: MPC was also named among Zacks’ Strong Buy growth stocks, adding another bullish screen-based signal. Best Growth Stocks to Buy for May 28th
• Neutral Sentiment: Investors are also paying more attention to Marathon Petroleum, which can increase trading interest but is not a fundamental catalyst by itself. Here is What to Know Beyond Why Marathon Petroleum Corporation (MPC) is a Trending Stock
• Negative Sentiment: One article noted that Marathon Petroleum insiders sold about $2.3 million of stock over the past year, which could make some investors more cautious. Marathon Petroleum Insiders Sell US$2.3m Of Stock, Possibly Signalling Caution

Marathon Petroleum Company Profile

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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