Marathon Petroleum Corporation $MPC Shares Sold by ING Groep NV

Key Points

• ING Groep NV sharply reduced its Marathon Petroleum stake by 96% in the fourth quarter, selling 58,781 shares and leaving it with 2,461 shares valued at about $400,000.
• Marathon Petroleum reported strong quarterly results, with EPS of $1.65 versus $0.74 expected and revenue of $34.2 billion, ahead of estimates. The company also raised confidence with a $1.00 quarterly dividend and a 1.5% yield.
• Analyst sentiment remains constructive, with firms like Raymond James, Jefferies, and TD Cowen lifting price targets and maintaining bullish ratings. The consensus analyst target now sits around $270.38, above the stock’s recent trading level.

ING Groep NV cut its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 96.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,461 shares of the oil and gas company's stock after selling 58,781 shares during the quarter. ING Groep NV's holdings in Marathon Petroleum were worth $400,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in MPC. Norges Bank purchased a new position in shares of Marathon Petroleum during the 4th quarter worth about $472,312,000. Assenagon Asset Management S.A. increased its position in Marathon Petroleum by 332.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 320,499 shares of the oil and gas company's stock worth $52,123,000 after purchasing an additional 246,384 shares during the last quarter. Merewether Investment Management LP purchased a new position in Marathon Petroleum during the second quarter worth approximately $35,548,000. Amundi boosted its holdings in shares of Marathon Petroleum by 11.8% in the 3rd quarter. Amundi now owns 1,626,862 shares of the oil and gas company's stock valued at $314,830,000 after purchasing an additional 172,172 shares during the last quarter. Finally, Boston Partners increased its holdings in shares of Marathon Petroleum by 2.3% during the 3rd quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company's stock worth $1,214,522,000 after buying an additional 141,691 shares during the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Marathon Petroleum

Here are the key news stories impacting Marathon Petroleum this week:

• Positive Sentiment: Raymond James raised its price target on Marathon Petroleum to $300 from $285 and kept an outperform rating, signaling additional upside potential for MPC. Raymond James raises price target on Marathon Petroleum to 300 from 285
• Positive Sentiment: MPC was included on Zacks’ list of top growth and momentum stocks, reflecting strong earnings trends, favorable price action, and upbeat growth forecasts. Best Growth Stocks to Buy for June 10th
• Positive Sentiment: Analysts highlighted Marathon Petroleum as a beneficiary of tight fuel supply and strong refining margins, with one article noting MPC has rallied sharply over the past six months and still offers further upside. 2 Refining Stocks With 35%+ Upside in 6 Months Despite High Oil Prices
• Positive Sentiment: Marathon Petroleum’s strong recent earnings beat and dividend support continue to underpin investor confidence, with the company recently paying a $1.00 quarterly dividend. MarketBeat Marathon Petroleum stock page
• Neutral Sentiment: There was also an insider sale disclosed for VP Michael Henschen II, which may draw attention but does not necessarily change the company’s fundamentals. Marathon Petroleum VP Michael Henschen II Sells 6,336 Shares

Marathon Petroleum Trading Up 2.1%

Shares of MPC opened at $263.51 on Thursday. The stock's 50-day moving average is $243.74 and its two-hundred day moving average is $211.55. The stock has a market cap of $76.93 billion, a PE ratio of 17.20, a P/E/G ratio of 0.41 and a beta of 0.52. Marathon Petroleum Corporation has a 12 month low of $158.00 and a 12 month high of $272.46. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.18 and a quick ratio of 0.73.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.91. The business had revenue of $34.20 billion during the quarter, compared to analyst estimates of $33.42 billion. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The company's revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.24) earnings per share. Equities analysts forecast that Marathon Petroleum Corporation will post 30.05 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were given a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $4.00 annualized dividend and a yield of 1.5%. Marathon Petroleum's dividend payout ratio (DPR) is 26.11%.

Analyst Upgrades and Downgrades

MPC has been the topic of a number of research analyst reports. Raymond James Financial lifted their target price on Marathon Petroleum from $285.00 to $300.00 and gave the company an "outperform" rating in a report on Wednesday. Jefferies Financial Group raised their price objective on Marathon Petroleum from $279.00 to $296.00 and gave the stock a "buy" rating in a report on Tuesday, May 26th. BMO Capital Markets lifted their price objective on Marathon Petroleum from $255.00 to $290.00 and gave the company an "outperform" rating in a research note on Wednesday, May 13th. TD Cowen boosted their target price on Marathon Petroleum to $320.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. Finally, Morgan Stanley increased their target price on shares of Marathon Petroleum from $200.00 to $233.00 and gave the stock an "overweight" rating in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $270.38.

Insider Activity at Marathon Petroleum

In other news, insider Ricky D. Hessling sold 1,626 shares of Marathon Petroleum stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $228.18, for a total transaction of $371,020.68. Following the sale, the insider owned 7,525 shares in the company, valued at $1,717,054.50. This trade represents a 17.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Michael A. Henschen II sold 6,336 shares of the business's stock in a transaction 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 transaction, the vice president directly owned 16,900 shares in the company, valued at approximately $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.17% of the stock is owned by company 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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