Korea Investment CORP Decreases Stake in Marathon Petroleum Corporation $MPC

Key Points

• Korea Investment CORP cut its stake in Marathon Petroleum by 24.6% in Q3, selling 72,616 shares and holding 222,966 shares valued at about $42.97 million.
• Marathon Petroleum reported Q4 EPS of $4.07 (vs. $3.73 est.) and revenue of $32.57 billion, and analysts expect roughly 8.47 EPS for the current fiscal year.
• The company announced a quarterly dividend of $1.00 (annualized $4.00, yield ~1.9%, ex-dividend Feb 18, payable Mar 10) and holds a consensus "Moderate Buy" rating with a target price of $202.50.

Korea Investment CORP reduced its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 24.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 222,966 shares of the oil and gas company's stock after selling 72,616 shares during the quarter. Korea Investment CORP owned 0.07% of Marathon Petroleum worth $42,974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. Delos Wealth Advisors LLC bought a new position in Marathon Petroleum during the 2nd quarter valued at about $25,000. WFA of San Diego LLC bought a new stake in shares of Marathon Petroleum in the second quarter worth approximately $33,000. Transce3nd LLC raised its holdings in shares of Marathon Petroleum by 10,250.0% during the second quarter. Transce3nd LLC now owns 207 shares of the oil and gas company's stock valued at $34,000 after purchasing an additional 205 shares during the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in Marathon Petroleum during the second quarter valued at approximately $38,000. Finally, IAG Wealth Partners LLC purchased a new stake in Marathon Petroleum in the third quarter worth approximately $39,000. 76.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on MPC shares. Barclays lowered their price target on Marathon Petroleum from $202.00 to $194.00 and set an "overweight" rating on the stock in a report on Tuesday, January 13th. JPMorgan Chase & Co. dropped their target price on Marathon Petroleum from $211.00 to $179.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 13th. Citigroup upped their price target on shares of Marathon Petroleum from $182.00 to $210.00 and gave the company a "neutral" rating in a research report on Monday, February 9th. Wells Fargo & Company boosted their target price on shares of Marathon Petroleum from $213.00 to $217.00 and gave the company an "overweight" rating in a research report on Wednesday, February 4th. Finally, Scotiabank reiterated an "outperform" rating and issued a $174.00 price target on shares of Marathon Petroleum in a research report on Friday, January 16th. Eleven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $202.50.

Marathon Petroleum Stock Down 2.8%

Shares of MPC stock opened at $215.15 on Tuesday. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $228.55. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.26 and a quick ratio of 0.74. The company has a market capitalization of $63.41 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 1.37 and a beta of 0.69. The company's fifty day moving average price is $188.22 and its 200-day moving average price is $186.88.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its earnings results on Tuesday, February 3rd. The oil and gas company reported $4.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.73 by $0.34. Marathon Petroleum had a return on equity of 13.90% and a net margin of 2.99%.The company had revenue of $32.57 billion for the quarter, compared to the consensus estimate of $30.89 billion. During the same quarter last year, the company earned $0.77 EPS. The firm's quarterly revenue was down .1% on a year-over-year basis. Sell-side analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Wednesday, February 18th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, February 18th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.9%. Marathon Petroleum's dividend payout ratio (DPR) is 29.96%.

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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