MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Trims Holdings in Marathon Petroleum Corporation (NYSE:MPC)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH cut its position in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 61.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,281 shares of the oil and gas company's stock after selling 22,603 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Marathon Petroleum were worth $2,081,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of MPC. Fourth Dimension Wealth LLC acquired a new stake in Marathon Petroleum in the 4th quarter worth about $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Marathon Petroleum during the 4th quarter worth about $27,000. Sierra Ocean LLC acquired a new stake in shares of Marathon Petroleum in the fourth quarter worth approximately $31,000. Cape Investment Advisory Inc. grew its holdings in Marathon Petroleum by 762.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company's stock valued at $42,000 after purchasing an additional 267 shares during the period. Finally, OFI Invest Asset Management purchased a new stake in Marathon Petroleum in the fourth quarter valued at approximately $44,000. Institutional investors and hedge funds own 76.77% of the company's stock.

Marathon Petroleum Stock Down 1.6%

NYSE MPC traded down $2.71 on Thursday, reaching $167.37. The company had a trading volume of 2,593,637 shares, compared to its average volume of 2,693,062. The firm has a market capitalization of $51.42 billion, a PE ratio of 23.54, a P/E/G ratio of 3.35 and a beta of 0.89. The firm has a 50-day moving average of $149.94 and a 200-day moving average of $146.70. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $183.31. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.19 and a quick ratio of 0.73.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.16. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. The business had revenue of $31.85 billion during the quarter, compared to the consensus estimate of $28.91 billion. During the same period in the prior year, the firm earned $2.58 earnings per share. The business's quarterly revenue was down 4.1% compared to the same quarter last year. On average, equities research 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 Tuesday, June 10th. Stockholders of record on Wednesday, May 21st were paid a dividend of $0.91 per share. The ex-dividend date was Wednesday, May 21st. This represents a $3.64 annualized dividend and a dividend yield of 2.17%. Marathon Petroleum's dividend payout ratio is presently 51.20%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Wall Street Zen upgraded shares of Marathon Petroleum from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Scotiabank cut their target price on Marathon Petroleum from $169.00 to $147.00 and set a "sector outperform" rating on the stock in a research report on Friday, April 11th. Barclays lifted their target price on Marathon Petroleum from $141.00 to $159.00 and gave the company an "overweight" rating in a report on Monday, May 12th. Piper Sandler dropped their price target on Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating for the company in a research note on Friday, March 7th. Finally, TD Cowen lifted their price objective on Marathon Petroleum from $152.00 to $163.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $175.80.

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.