Marathon Petroleum Corporation $MPC Shares Sold by Leonteq Securities AG

Key Points

• Leonteq Securities AG sharply reduced its Marathon Petroleum stake, selling 70.8% of its holdings in the first quarter and leaving it with 1,629 shares worth about $398,000.
• Marathon Petroleum reported strong quarterly results, posting EPS of $1.65 versus the $0.74 consensus 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 ($4.00 annualized), while analysts currently rate MPC a consensus Moderate Buy with an average price target of $272.62.

Leonteq Securities AG trimmed its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 70.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,629 shares of the oil and gas company's stock after selling 3,944 shares during the period. Leonteq Securities AG's holdings in Marathon Petroleum were worth $398,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in MPC. Brighton Jones LLC lifted its position in Marathon Petroleum by 30.9% during the 4th quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company's stock worth $696,000 after acquiring an additional 1,178 shares in the last quarter. Woodline Partners LP boosted its stake in shares of Marathon Petroleum by 38.3% in the first quarter. Woodline Partners LP now owns 26,697 shares of the oil and gas company's stock valued at $3,889,000 after purchasing an additional 7,396 shares during the period. Sivia Capital Partners LLC grew its holdings in Marathon Petroleum by 26.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,221 shares of the oil and gas company's stock valued at $369,000 after purchasing an additional 466 shares in the last quarter. Marshall Wace LLP purchased a new stake in Marathon Petroleum during the 2nd quarter worth $8,505,000. Finally, AXA S.A. lifted its holdings in Marathon Petroleum by 46.7% in the 2nd quarter. AXA S.A. now owns 39,675 shares of the oil and gas company's stock worth $6,590,000 after buying an additional 12,639 shares in the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Trading Up 0.1%

Marathon Petroleum stock opened at $266.50 on Monday. Marathon Petroleum Corporation has a 1 year low of $158.00 and a 1 year high of $272.46. The firm's 50-day moving average is $252.10 and its 200-day moving average is $219.16. 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 company has a market cap of $77.80 billion, a P/E ratio of 17.40, a PEG ratio of 0.39 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share 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 the consensus estimate of $33.42 billion. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The company's revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.24) EPS. On average, equities analysts expect that Marathon Petroleum Corporation will post 32.96 earnings per share for the current year.

Marathon Petroleum Announces Dividend

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

Insiders Place Their Bets

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the business's stock in a transaction dated Thursday, June 4th. The shares were 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 of the company's stock, valued at $4,543,058. The trade was a 27.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MPC has been the topic of a number of analyst reports. Zacks Research lowered Marathon Petroleum from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 17th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $344.00 target price on shares of Marathon Petroleum in a research report on Monday, June 15th. Weiss Ratings cut shares of Marathon Petroleum from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, May 6th. Morgan Stanley upped their target price on shares of Marathon Petroleum from $233.00 to $265.00 and gave the company an "overweight" rating in a research note on Friday, June 12th. Finally, Raymond James Financial lifted their price target on Marathon Petroleum from $285.00 to $300.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 10th. Ten equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Marathon Petroleum presently has a consensus rating of "Moderate Buy" and an average price target of $272.62.

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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