ING Groep NV Has $7.46 Million Holdings in Marathon Petroleum Corporation (NYSE:MPC)

Key Points

• ING Groep NV significantly reduced its stake in Marathon Petroleum Corporation by 93.5%, leaving it with 51,218 shares valued at approximately $7.46 million as of its latest SEC filing.
• Several hedge funds increased their holdings in Marathon Petroleum, with notable purchases from Commonwealth Equity Services LLC (up 6.2%) and Raiffeisen Bank International AG (up 202.4%) during the first quarter.
• Marathon Petroleum announced a quarterly dividend of $0.91, reflecting an annualized yield of 2.2%, alongside a dividend payout ratio of 51.20%.

ING Groep NV lessened its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 93.5% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 51,218 shares of the oil and gas company's stock after selling 732,798 shares during the quarter. ING Groep NV's holdings in Marathon Petroleum were worth $7,462,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Demars Financial Group LLC boosted its holdings in Marathon Petroleum by 16,338.3% in the 4th quarter. Demars Financial Group LLC now owns 4,177,133 shares of the oil and gas company's stock worth $582,710,000 after acquiring an additional 4,151,722 shares during the period. GAMMA Investing LLC boosted its stake in shares of Marathon Petroleum by 14,969.1% during the 1st quarter. GAMMA Investing LLC now owns 1,540,963 shares of the oil and gas company's stock valued at $224,503,000 after buying an additional 1,530,737 shares during the last quarter. Two Sigma Investments LP purchased a new position in shares of Marathon Petroleum during the 4th quarter valued at approximately $81,318,000. Two Sigma Advisers LP purchased a new position in shares of Marathon Petroleum during the 4th quarter valued at approximately $71,842,000. Finally, Northern Trust Corp boosted its stake in shares of Marathon Petroleum by 14.0% during the 4th quarter. Northern Trust Corp now owns 3,937,348 shares of the oil and gas company's stock valued at $549,260,000 after buying an additional 484,438 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company's stock.

Marathon Petroleum Stock Performance

Shares of MPC traded down $0.56 during trading hours on Friday, reaching $160.95. 1,278,171 shares of the company's stock traded hands, compared to its average volume of 1,963,470. The business's fifty day simple moving average is $169.25 and its two-hundred day simple moving average is $153.70. The firm has a market capitalization of $48.93 billion, a price-to-earnings ratio of 23.88, a P/E/G ratio of 2.81 and a beta of 0.90. Marathon Petroleum Corporation has a twelve month low of $115.10 and a twelve month 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 0.73.

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

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th will be given a $0.91 dividend. The ex-dividend date 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 54.01%.

Insider Buying and Selling at Marathon Petroleum

In related news, Director Kim K.W. Rucker sold 7,392 shares of the 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 transaction, the director owned 18,944 shares in the company, 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 SEC, which can be accessed through the SEC website. 0.21% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

MPC has been the subject of several research analyst reports. Barclays increased their target price on Marathon Petroleum from $159.00 to $189.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Raymond James Financial restated an "outperform" rating and set a $200.00 price objective (up from $180.00) on shares of Marathon Petroleum in a research note on Tuesday, July 15th. TD Cowen reduced their price objective on Marathon Petroleum from $190.00 to $182.00 and set a "buy" rating on the stock in a research note on Wednesday. Morgan Stanley raised their price objective on Marathon Petroleum from $160.00 to $182.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Finally, Mizuho raised their price objective on Marathon Petroleum from $168.00 to $184.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Marathon Petroleum presently 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.