Marathon Petroleum Corporation $MPC Stock: Kirr Marbach & Co. LLC IN Reduces Stake

Key Points

• Kirr Marbach & Co. cut its Marathon Petroleum stake by 52.6% in the third quarter, selling 26,282 shares and retaining 23,661 shares worth approximately $9.4 million. Institutional investors collectively own 76.77% of MPC.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $417.88, although several firms maintain neutral or hold ratings.
• Marathon Petroleum reported strong quarterly results, earning $17.73 per share versus the $14.27 consensus estimate, while revenue rose 53.5% year over year to $51.99 billion. The company also declared a $1.00 quarterly dividend, equal to a 0.8% annualized yield.

Kirr Marbach & Co. LLC IN lessened its stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 52.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,661 shares of the oil and gas company's stock after selling 26,282 shares during the period. Marathon Petroleum comprises about 1.8% of Kirr Marbach & Co. LLC IN's holdings, making the stock its 25th largest holding. Kirr Marbach & Co. LLC IN's holdings in Marathon Petroleum were worth $9,356,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in MPC. BlackRock Inc. purchased a new stake in Marathon Petroleum during the 2nd quarter valued at $6,648,958,000. Bank of New York Mellon Corp purchased a new position in shares of Marathon Petroleum in the second quarter valued at about $1,029,611,000. Bank of America Corp DE increased its position in shares of Marathon Petroleum by 1.6% in the first quarter. Bank of America Corp DE now owns 2,595,084 shares of the oil and gas company's stock valued at $633,668,000 after acquiring an additional 40,124 shares during the period. Amundi raised its stake in shares of Marathon Petroleum by 17.5% during the second quarter. Amundi now owns 2,237,930 shares of the oil and gas company's stock valued at $572,172,000 after acquiring an additional 332,551 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Marathon Petroleum by 16.7% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,508,489 shares of the oil and gas company's stock valued at $385,675,000 after acquiring an additional 215,686 shares during the last quarter. Institutional investors own 76.77% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on MPC shares. Wells Fargo & Company upped their price target on Marathon Petroleum from $400.00 to $560.00 and gave the company an "overweight" rating in a research report on Wednesday, October 14th. Citigroup increased their price objective on Marathon Petroleum from $318.00 to $518.00 and gave the stock a "neutral" rating in a report on Tuesday, October 13th. Evercore set a $330.00 target price on Marathon Petroleum in a research note on Wednesday, August 5th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $433.00 price target on shares of Marathon Petroleum in a research note on Sunday, October 11th. Finally, Mizuho lifted their price target on shares of Marathon Petroleum from $304.00 to $457.00 and gave the company a "neutral" rating in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $417.88.

Insider Buying and Selling at Marathon Petroleum

In other news, SVP Shawn Lyon sold 2,500 shares of the firm's stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $350.00, for a total transaction of $875,000.00. Following the sale, the senior vice president owned 12,619 shares of the company's stock, valued at $4,416,650. This trade represents a 16.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Erin M. Brzezinski sold 570 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $362.79, for a total transaction of $206,790.30. Following the transaction, the vice president owned 1,576 shares in the company, valued at approximately $571,757.04. This trade represents a 26.56% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 21,691 shares of company stock worth $7,780,127. Company insiders own 0.17% of the company's stock.

Marathon Petroleum Trading Up 0.2%

NYSE MPC opened at $474.78 on Wednesday. Marathon Petroleum Corporation has a 12 month low of $161.93 and a 12 month high of $493.98. The company has a current ratio of 1.25, a quick ratio of 0.89 and a debt-to-equity ratio of 1.19. The stock's fifty day moving average price is $403.53 and its 200-day moving average price is $312.67. The stock has a market cap of $138.61 billion, a P/E ratio of 16.32, a P/E/G ratio of 0.14 and a beta of 0.54.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.27 by $3.46. The firm had revenue of $51.99 billion during the quarter, compared to analyst estimates of $40.87 billion. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%. Marathon Petroleum's quarterly revenue was up 53.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.96 EPS. As a group, equities analysts forecast that Marathon Petroleum Corporation will post 62.78 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Wednesday, August 19th. Marathon Petroleum's dividend payout ratio is presently 13.75%.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation NYSE: MPC is an American downstream energy company engaged in refining, marketing, and transporting petroleum products. Its operations include converting crude oil into gasoline, diesel, jet fuel, asphalt, propane, and other refined products used by transportation, industrial, and commercial customers.

The company markets fuel under the Marathon brand and supplies products to independent marketers, commercial businesses, and other wholesale customers. Marathon Petroleum also owns a general-partner interest and significant limited-partner interest in MPLX Inc, a midstream company that operates pipelines, storage facilities, terminals, and gathering and processing assets supporting the movement of crude oil and natural gas liquids.

Marathon Petroleum's refining and midstream activities are concentrated in the United States, with assets serving regions across the Midwest, Gulf Coast, and West Coast.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.