Marathon Petroleum Corporation $MPC Holdings Lifted by Mediolanum International Funds Ltd

Key Points

• Mediolanum International Funds Ltd increased its Marathon Petroleum stake by 69% in the first quarter, ending with 73,034 shares valued at about $17.9 million.
• Marathon Petroleum reported strong quarterly results, with EPS of $1.65 versus the $0.74 estimate and revenue of $34.2 billion, up 8.5% year over year.
• The company also paid a quarterly dividend of $1.00 per share, implying a $4.00 annualized payout and a 1.3% yield, while analysts currently view the stock as a Moderate Buy.

Mediolanum International Funds Ltd boosted its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 69.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 73,034 shares of the oil and gas company's stock after buying an additional 29,827 shares during the period. Mediolanum International Funds Ltd's holdings in Marathon Petroleum were worth $17,905,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Diversified Trust Co. increased its stake in shares of Marathon Petroleum by 39.3% in the fourth quarter. Diversified Trust Co. now owns 15,675 shares of the oil and gas company's stock worth $2,549,000 after acquiring an additional 4,419 shares during the last quarter. North Dakota State Investment Board acquired a new stake in Marathon Petroleum during the fourth quarter valued at $1,714,000. USA Financial Formulas acquired a new stake in Marathon Petroleum during the fourth quarter valued at $791,000. Teachers Retirement System of The State of Kentucky grew its stake in Marathon Petroleum by 570.7% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 168,644 shares of the oil and gas company's stock valued at $41,180,000 after purchasing an additional 143,500 shares in the last quarter. Finally, Pictet Asset Management Holding SA increased its position in Marathon Petroleum by 31.0% in the 1st quarter. Pictet Asset Management Holding SA now owns 213,545 shares of the oil and gas company's stock worth $52,146,000 after purchasing an additional 50,521 shares during the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Up 0.0%

MPC opened at $312.74 on Monday. The business has a 50 day moving average price of $262.34 and a 200 day moving average price of $227.78. Marathon Petroleum Corporation has a twelve month low of $158.00 and a twelve month high of $313.15. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.73 and a current ratio of 1.18. The firm has a market cap of $91.30 billion, a P/E ratio of 20.41, a price-to-earnings-growth ratio of 0.42 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, beating the consensus estimate of $0.74 by $0.91. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The company had revenue of $34.20 billion for the quarter, compared to the consensus estimate of $33.42 billion. During the same quarter last year, the company posted ($0.24) earnings per share. The company's revenue for the quarter was up 8.5% compared to the same quarter last year. Research analysts forecast that Marathon Petroleum Corporation will post 35.82 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were paid a $1.00 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.3%. Marathon Petroleum's payout ratio is presently 26.11%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on MPC shares. Citigroup raised their price target on Marathon Petroleum from $257.00 to $303.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 14th. The Goldman Sachs Group boosted their price target on Marathon Petroleum from $264.00 to $291.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Morgan Stanley increased their price objective on Marathon Petroleum from $233.00 to $265.00 and gave the stock an "overweight" rating in a report on Friday, June 12th. Jefferies Financial Group set a $335.00 price target on shares of Marathon Petroleum and gave the company a "buy" rating in a report on Sunday, July 12th. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Marathon Petroleum in a research note on Friday, June 12th. Ten equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $283.56.

Insider Buying and Selling

In other news, VP Michael A. Henschen II sold 6,336 shares of the company's stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the completion of the transaction, the vice president directly owned 16,900 shares in the company, valued at $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.17% of the stock is currently owned by corporate insiders.

About Marathon Petroleum

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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