Marathon Petroleum Corporation $MPC Shares Sold by US Bancorp DE

Key Points

• US Bancorp DE reduced its stake in Marathon Petroleum Corporation by 7.3% in the second quarter, holding approximately 1,735,139 shares valued at $288.2 million.
• Several hedge funds have made significant adjustments to their positions in Marathon Petroleum, with one fund increasing its stake by an impressive 1,546.2% during the first quarter.
• Marathon Petroleum recently announced a quarterly dividend of $0.91 per share, resulting in an annualized dividend yield of 1.9%.

US Bancorp DE lowered its holdings in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 7.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,735,139 shares of the oil and gas company's stock after selling 136,832 shares during the period. US Bancorp DE owned about 0.56% of Marathon Petroleum worth $288,224,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. CBIZ Investment Advisory Services LLC grew its stake in shares of Marathon Petroleum by 1,546.2% in 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 shares of Marathon Petroleum in the first quarter worth approximately $32,000. WPG Advisers LLC purchased a new position in shares of Marathon Petroleum in the first quarter worth approximately $32,000. Decker Retirement Planning Inc. increased its position in shares of Marathon Petroleum by 1,621.4% in the first quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company's stock worth $35,000 after acquiring an additional 227 shares in the last quarter. Finally, Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Marathon Petroleum in the first quarter worth approximately $35,000. Institutional investors and hedge funds own 76.77% of the company's stock.

Insider Activity at Marathon Petroleum

In other news, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $163.00, for a total value of $1,773,277.00. Following the transaction, the insider owned 28,700 shares of the company's stock, valued at $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.21% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MPC. Wolfe Research downgraded shares of Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a research report on Monday, July 14th. Weiss Ratings reissued a "hold (c)" rating on shares of Marathon Petroleum in a research report on Wednesday. BMO Capital Markets lifted their target price on shares of Marathon Petroleum from $195.00 to $208.00 and gave the stock an "outperform" rating in a research report on Monday, September 22nd. Citigroup boosted their price objective on shares of Marathon Petroleum from $144.00 to $182.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Finally, Dbs Bank raised shares of Marathon Petroleum to a "moderate buy" rating in a research report on Monday, July 28th. Eight equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $198.23.

Marathon Petroleum Price Performance

NYSE MPC opened at $188.72 on Thursday. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $57.37 billion, a PE ratio of 28.00, a price-to-earnings-growth ratio of 3.22 and a beta of 0.90. The company has a 50 day moving average price of $178.07 and a two-hundred day moving average price of $163.01. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $201.61.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, beating 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 company had revenue of $34.10 billion for the quarter, compared to analyst estimates of $31.70 billion. During the same quarter last year, the firm posted $4.12 earnings per share. The company's quarterly revenue was down 11.1% compared to the same quarter last year. As a group, equities analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th were given a $0.91 dividend. 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 (DPR) is currently 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.

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