MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Sells 2,607 Shares of Marathon Petroleum Corporation $MPC

Key Points

• MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH reduced its stake in Marathon Petroleum Corporation by 18.3%, selling 2,607 shares and bringing their total holdings to 11,674 shares valued at $1,939,000.
• In related transactions, Marathon Petroleum insiders have sold significant shares recently, with Director Kim K.W. Rucker selling 7,392 shares and insider Molly R. Benson selling 10,879 shares, indicating a trend of decreased ownership.
• Marathon Petroleum has seen analysts increase price targets, with Evercore ISI raising it from $170.00 to $210.00 while maintaining an "in-line" rating, reflecting positive expectations for the stock's performance.

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH reduced its stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 18.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,674 shares of the oil and gas company's stock after selling 2,607 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Marathon Petroleum were worth $1,939,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Good Steward Wealth Advisors LLC bought a new stake in Marathon Petroleum during the 1st quarter valued at $346,000. Silver Oak Securities Incorporated purchased a new position in shares of Marathon Petroleum in the first quarter valued at about $339,000. Financial Partners Group LLC raised its stake in shares of Marathon Petroleum by 65.8% during the first quarter. Financial Partners Group LLC now owns 3,937 shares of the oil and gas company's stock valued at $574,000 after acquiring an additional 1,563 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in shares of Marathon Petroleum by 8.0% during the first quarter. Oppenheimer Asset Management Inc. now owns 44,387 shares of the oil and gas company's stock worth $6,467,000 after purchasing an additional 3,291 shares during the period. Finally, Jump Financial LLC grew its stake in shares of Marathon Petroleum by 128.0% in the first quarter. Jump Financial LLC now owns 8,663 shares of the oil and gas company's stock worth $1,262,000 after purchasing an additional 4,863 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company's stock.

Insiders Place Their Bets

In related news, Director Kim K.W. Rucker sold 7,392 shares of the company's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total value of $1,293,600.00. Following the transaction, the director owned 18,944 shares in the company, valued at $3,315,200. The trade was a 28.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Molly R. Benson sold 10,879 shares of the firm's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the sale, the insider owned 28,700 shares of the company's stock, valued at approximately $4,678,100. This represents a 27.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company's stock.

Marathon Petroleum Trading Up 1.8%

Shares of NYSE MPC opened at $196.54 on Friday. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $196.70. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71. The firm has a 50-day moving average of $174.60 and a 200 day moving average of $159.93. The stock has a market cap of $59.75 billion, a P/E ratio of 29.16, a price-to-earnings-growth ratio of 3.35 and a beta of 0.97.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share 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 business had revenue of $34.10 billion during the quarter, compared to the consensus estimate of $31.70 billion. During the same quarter last year, the firm earned $4.12 earnings per share. The business's revenue for the quarter was down 11.1% on a year-over-year basis. As a group, sell-side analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Wednesday, August 20th. Marathon Petroleum's payout ratio is 54.01%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Evercore ISI upped their price target on Marathon Petroleum from $170.00 to $210.00 and gave the company an "in-line" rating in a research report on Friday, September 19th. Bank of America upped their target price on Marathon Petroleum from $184.00 to $192.00 and gave the company a "neutral" rating in a report on Wednesday, September 3rd. Dbs Bank raised shares of Marathon Petroleum to a "moderate buy" rating in a research report on Monday, July 28th. Morgan Stanley upped their price objective on shares of Marathon Petroleum from $160.00 to $182.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Finally, Citigroup lifted their target price on shares of Marathon Petroleum from $144.00 to $182.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Eight equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $192.50.

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.

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