Fifth Third Bancorp Sells 28,173 Shares of Marathon Petroleum Co. (NYSE:MPC)

Fifth Third Bancorp decreased its holdings in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) by 4.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 563,170 shares of the oil and gas company's stock after selling 28,173 shares during the quarter. Fifth Third Bancorp owned approximately 0.18% of Marathon Petroleum worth $82,048,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of MPC. Fourth Dimension Wealth LLC acquired a new position in Marathon Petroleum during the fourth quarter worth $26,000. Kohmann Bosshard Financial Services LLC bought a new position in Marathon Petroleum in the 4th quarter worth $27,000. Asset Planning Inc acquired a new position in Marathon Petroleum during the 4th quarter worth $28,000. Sierra Ocean LLC bought a new stake in Marathon Petroleum during the fourth quarter valued at about $31,000. Finally, Cape Investment Advisory Inc. boosted its holdings in Marathon Petroleum by 762.9% during the fourth quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company's stock valued at $42,000 after acquiring an additional 267 shares during the period. Institutional investors own 76.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on MPC shares. Wall Street Zen raised Marathon Petroleum from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Scotiabank dropped their price target on Marathon Petroleum from $169.00 to $147.00 and set a "sector outperform" rating on the stock in a research report on Friday, April 11th. Piper Sandler reduced their price objective on Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating for the company in a research report on Friday, March 7th. Raymond James lowered their price objective on shares of Marathon Petroleum from $193.00 to $183.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, April 9th. Finally, Morgan Stanley cut their target price on shares of Marathon Petroleum from $175.00 to $160.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $176.21.

Marathon Petroleum Price Performance

NYSE MPC traded up $0.64 on Friday, reaching $165.71. The company's stock had a trading volume of 1,816,426 shares, compared to its average volume of 2,689,170. Marathon Petroleum Co. has a 52 week low of $115.10 and a 52 week high of $183.31. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. The firm has a market cap of $50.91 billion, a PE ratio of 16.70, a price-to-earnings-growth ratio of 3.11 and a beta of 0.89. The business has a 50-day moving average price of $146.54 and a 200 day moving average price of $146.38.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.40) by $0.16. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The business had revenue of $31.85 billion during the quarter, compared to analysts' expectations of $28.91 billion. During the same period in the prior year, the firm posted $2.58 EPS. Marathon Petroleum's quarterly revenue was down 4.1% compared to the same quarter last year. Sell-side analysts expect that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st were given a $0.91 dividend. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $3.64 dividend on an annualized basis and a yield of 2.20%. Marathon Petroleum's dividend payout ratio (DPR) is presently 51.20%.

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.