Marathon Petroleum Corporation $MPC Shares Sold by Lbp Am Sa

Key Points

• Lbp Am Sa has significantly reduced its holdings in Marathon Petroleum Corporation by 64.7%, selling 42,364 shares and now holding 23,080 shares valued at approximately $3.83 million.
• Multiple institutional investors, including Baker Tilly Wealth Management LLC and CHICAGO TRUST Co NA, have increased their stakes in Marathon Petroleum, leading to institutional ownership now comprising 76.77% of the company's stock.
• Marathon Petroleum reported strong earnings, with $3.96 EPS for the quarter and beat analysts' expectations, although its revenue showed an 11.1% year-over-year decline.

Lbp Am Sa trimmed its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 64.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,080 shares of the oil and gas company's stock after selling 42,364 shares during the period. Lbp Am Sa's holdings in Marathon Petroleum were worth $3,834,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Baker Tilly Wealth Management LLC lifted its stake in shares of Marathon Petroleum by 2.8% in the 2nd quarter. Baker Tilly Wealth Management LLC now owns 2,226 shares of the oil and gas company's stock valued at $370,000 after purchasing an additional 60 shares during the period. CHICAGO TRUST Co NA lifted its stake in shares of Marathon Petroleum by 3.9% in the 2nd quarter. CHICAGO TRUST Co NA now owns 1,684 shares of the oil and gas company's stock valued at $280,000 after purchasing an additional 63 shares during the period. Sunpointe LLC lifted its stake in shares of Marathon Petroleum by 4.1% in the 2nd quarter. Sunpointe LLC now owns 1,750 shares of the oil and gas company's stock valued at $291,000 after purchasing an additional 69 shares during the period. Beverly Hills Private Wealth LLC lifted its stake in shares of Marathon Petroleum by 1.3% in the 1st quarter. Beverly Hills Private Wealth LLC now owns 6,739 shares of the oil and gas company's stock valued at $982,000 after purchasing an additional 84 shares during the period. Finally, Valmark Advisers Inc. lifted its stake in shares of Marathon Petroleum by 2.3% in the 1st quarter. Valmark Advisers Inc. now owns 3,801 shares of the oil and gas company's stock valued at $554,000 after purchasing an additional 86 shares during the period. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Molly R. Benson sold 10,879 shares of the company's 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 of the company's stock, valued at $4,678,100. This represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.21% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MPC has been the subject of several analyst reports. Scotiabank reiterated an "outperform" rating on shares of Marathon Petroleum in a research note on Friday, July 11th. BMO Capital Markets boosted their target price on shares of Marathon Petroleum from $195.00 to $208.00 and gave the company an "outperform" rating in a research note on Monday, September 22nd. Citigroup boosted their price target on shares of Marathon Petroleum from $144.00 to $182.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. UBS Group upped their price objective on shares of Marathon Petroleum from $203.00 to $220.00 and gave the stock a "buy" rating in a research report on Friday, September 26th. Finally, Morgan Stanley upped their price objective on shares of Marathon Petroleum from $160.00 to $182.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Eight 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 MarketBeat.com, Marathon Petroleum has a consensus rating of "Moderate Buy" and an average price target of $195.00.

Marathon Petroleum Price Performance

Marathon Petroleum stock opened at $192.36 on Friday. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $201.61. The firm has a market capitalization of $58.48 billion, a price-to-earnings ratio of 28.54, a PEG ratio of 3.33 and a beta of 0.90. The company has a fifty day simple moving average of $176.59 and a 200-day simple moving average of $161.84. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.22 by $0.74. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The business had revenue of $34.10 billion during the quarter, compared to analyst estimates of $31.70 billion. During the same quarter in the prior year, the firm earned $4.12 earnings per share. The company's revenue for the quarter was down 11.1% compared to the same quarter last year. On average, equities analysts anticipate 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 was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th were issued a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.9%. Marathon Petroleum's dividend payout ratio is presently 54.01%.

Marathon Petroleum Company 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.

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