Gulf International Bank UK Ltd Sells 8,525 Shares of Marathon Petroleum Corporation (NYSE:MPC)

Key Points

• Gulf International Bank UK Ltd reduced its stake in Marathon Petroleum Corporation by 30.6%, selling 8,525 shares and leaving them with 19,319 shares valued at approximately $2.8 million as of the latest SEC filing.
• Marathon Petroleum announced a quarterly dividend of $0.91 per share, set to be paid on September 10th, which reflects an annualized dividend yield of 2.3%.
• Marathon Petroleum's recent quarterly earnings showed $3.96 EPS, surpassing analysts’ estimates, despite a 11.1% decrease in revenue year-over-year.

Gulf International Bank UK Ltd trimmed its stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 30.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,319 shares of the oil and gas company's stock after selling 8,525 shares during the period. Gulf International Bank UK Ltd's holdings in Marathon Petroleum were worth $2,814,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of MPC. Fourth Dimension Wealth LLC bought a new stake in shares of Marathon Petroleum in the 4th quarter valued at approximately $26,000. CBIZ Investment Advisory Services LLC lifted its stake in shares of Marathon Petroleum by 1,546.2% during the 1st 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 stake in shares of Marathon Petroleum during the 1st quarter worth approximately $32,000. Decker Retirement Planning Inc. lifted its stake in shares of Marathon Petroleum by 1,621.4% during the 1st 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 1st quarter worth approximately $35,000. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Trading Up 1.6%

Shares of NYSE:MPC opened at $161.64 on Thursday. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $183.10. The business's fifty day simple moving average is $169.28 and its 200-day simple moving average is $153.87. The company has a market capitalization of $49.14 billion, a PE ratio of 23.98, a P/E/G ratio of 2.89 and a beta of 0.90. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15.

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

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th will be given a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.3%. Marathon Petroleum's dividend payout ratio (DPR) is presently 54.01%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MPC. Morgan Stanley raised their price target on Marathon Petroleum from $160.00 to $182.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Wells Fargo & Company raised their price target on Marathon Petroleum from $182.00 to $205.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Scotiabank reissued an "outperform" rating on shares of Marathon Petroleum in a research note on Friday, July 11th. Citigroup raised their price target on Marathon Petroleum from $144.00 to $182.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Finally, Wall Street Zen raised Marathon Petroleum from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $185.29.

Insider Buying and Selling at Marathon Petroleum

In other news, Director Kim K.W. Rucker sold 7,392 shares of the firm's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total value of $1,293,600.00. Following the completion of the sale, the director owned 18,944 shares of the company's stock, valued at $3,315,200. This trade represents a 28.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.21% of the stock is owned by insiders.

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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