Marathon Petroleum Corporation $MPC Shares Sold by Sienna Gestion

Key Points

• Sienna Gestion cut its stake in Marathon Petroleum by 53% in the third quarter, selling 29,229 shares and leaving it with 25,884 shares valued at about $4.55 million.
• Marathon Petroleum beat estimates with quarterly EPS of $4.07 (vs. $3.73 expected) and revenue of $32.57 billion (vs. $30.89 billion), reporting a net margin of 2.99% and ROE of 13.9%.
• The company declared a $1.00 quarterly dividend (annualized $4.00, yield 1.8%, ex-dividend Feb. 18) and holds an analyst consensus of Moderate Buy with a $202.50 price target.

Sienna Gestion cut its stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 53.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,884 shares of the oil and gas company's stock after selling 29,229 shares during the quarter. Sienna Gestion's holdings in Marathon Petroleum were worth $4,549,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Marathon Petroleum by 11.2% during the second quarter. Vanguard Group Inc. now owns 38,866,104 shares of the oil and gas company's stock worth $6,456,049,000 after purchasing an additional 3,924,713 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Marathon Petroleum by 14.8% during the 2nd quarter. Geode Capital Management LLC now owns 8,013,213 shares of the oil and gas company's stock worth $1,325,598,000 after buying an additional 1,033,645 shares during the last quarter. Boston Partners raised its position in shares of Marathon Petroleum by 13.1% during the 2nd quarter. Boston Partners now owns 6,163,737 shares of the oil and gas company's stock valued at $1,024,395,000 after buying an additional 715,223 shares during the period. Norges Bank acquired a new position in Marathon Petroleum in the second quarter valued at approximately $527,197,000. Finally, Charles Schwab Investment Management Inc. grew its position in Marathon Petroleum by 5.0% in the second quarter. Charles Schwab Investment Management Inc. now owns 2,719,768 shares of the oil and gas company's stock worth $451,781,000 after acquiring an additional 128,691 shares during the period. Institutional investors and hedge funds own 76.77% of the company's stock.

Marathon Petroleum Trading Up 1.8%

NYSE MPC opened at $221.21 on Monday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.74 and a current ratio of 1.26. The firm has a market cap of $65.20 billion, a price-to-earnings ratio of 16.57, a PEG ratio of 1.37 and a beta of 0.69. The firm has a 50 day simple moving average of $187.19 and a 200-day simple moving average of $186.52. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $228.55.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its earnings results on Tuesday, February 3rd. The oil and gas company reported $4.07 earnings per share for the quarter, topping the consensus estimate of $3.73 by $0.34. The firm had revenue of $32.57 billion for the quarter, compared to the consensus estimate of $30.89 billion. Marathon Petroleum had a net margin of 2.99% and a return on equity of 13.90%. The firm's revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.77 EPS. Equities research analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Wednesday, February 18th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, February 18th. Marathon Petroleum's payout ratio is presently 29.96%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on MPC shares. Weiss Ratings upgraded Marathon Petroleum from a "hold (c)" rating to a "buy (b-)" rating in a research report on Friday, February 27th. Jefferies Financial Group lowered their price target on Marathon Petroleum from $216.00 to $205.00 and set a "buy" rating for the company in a report on Monday, January 26th. The Goldman Sachs Group raised their price objective on Marathon Petroleum from $204.00 to $211.00 and gave the stock a "buy" rating in a research report on Thursday, February 5th. Citigroup boosted their price objective on shares of Marathon Petroleum from $182.00 to $210.00 and gave the company a "neutral" rating in a report on Monday, February 9th. Finally, Wells Fargo & Company increased their target price on shares of Marathon Petroleum from $213.00 to $217.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 4th. Eleven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $202.50.

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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