Marathon Petroleum Corporation $MPC Shares Sold by Commerzbank Aktiengesellschaft FI

Key Points

• Commerzbank Aktiengesellschaft FI significantly reduced its stake in Marathon Petroleum by 60.7% in the second quarter, now owning 2,712 shares valued at $451,000.
• Insider Molly R. Benson sold 10,879 shares at an average price of $163.00, resulting in a 27.49% decrease in her holdings.
• Several analysts have raised their price targets for Marathon Petroleum, with UBS Group setting a new target of $220.00 and maintaining a "buy" rating.

Commerzbank Aktiengesellschaft FI trimmed its holdings in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 60.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,712 shares of the oil and gas company's stock after selling 4,180 shares during the period. Commerzbank Aktiengesellschaft FI's holdings in Marathon Petroleum were worth $451,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CBIZ Investment Advisory Services LLC boosted its holdings 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 purchasing an additional 201 shares during the last quarter. Hughes Financial Services LLC purchased a new position in Marathon Petroleum during the first quarter worth approximately $32,000. WPG Advisers LLC acquired a new position in Marathon Petroleum during the first quarter worth $32,000. Decker Retirement Planning Inc. grew its holdings in Marathon Petroleum by 1,621.4% in the 1st quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company's stock valued at $35,000 after buying an additional 227 shares in the last quarter. Finally, Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Marathon Petroleum in the 1st quarter worth $35,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Molly R. Benson sold 10,879 shares of the stock in a transaction on Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the completion of the sale, the insider owned 28,700 shares in the company, valued at $4,678,100. This represents a 27.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.21% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

MPC has been the subject of a number of analyst reports. UBS Group upped their price objective on shares of Marathon Petroleum from $203.00 to $220.00 and gave the company a "buy" rating in a report on Friday, September 26th. Piper Sandler increased their price target on shares of Marathon Petroleum from $184.00 to $222.00 and gave the company a "neutral" rating in a research note on Thursday, September 11th. Mizuho lifted their price target on shares of Marathon Petroleum from $184.00 to $188.00 and gave the company a "neutral" rating in a research report on Monday, September 15th. Evercore ISI increased their target price on shares of Marathon Petroleum from $170.00 to $210.00 and gave the stock an "in-line" rating in a research note on Friday, September 19th. Finally, Morgan Stanley upped their target price on shares of Marathon Petroleum from $182.00 to $200.00 and gave the stock an "overweight" rating in a research note on Friday, October 3rd. Eight investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $198.92.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $181.08 on Friday. The stock's 50-day moving average is $178.73 and its two-hundred day moving average is $163.60. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $201.61. The firm has a market cap of $55.05 billion, a price-to-earnings ratio of 26.87, a PEG ratio of 3.04 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its 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 firm had revenue of $34.10 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the prior year, the firm earned $4.12 EPS. Analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th were issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Wednesday, August 20th. Marathon Petroleum's payout ratio is presently 54.01%.

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.

Want to see what other hedge funds are holding MPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Petroleum Corporation (NYSE:MPC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.