Mediolanum International Funds Ltd Has $7.76 Million Holdings in Marathon Petroleum Corporation (NYSE:MPC)

Key Points

• Mediolanum International Funds Ltd reduced its stake in Marathon Petroleum Corporation by 9.9%, now owning 53,836 shares valued at approximately $7.76 million.
• Marathon Petroleum's recent quarterly earnings showed a loss of $0.24 per share but surpassed analysts' expectations with $31.85 billion in revenue.
• The stock received mixed analyst ratings, with an average target price of $183.93, following upgrades and downgrades from various financial institutions.

Mediolanum International Funds Ltd lessened its stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 9.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,836 shares of the oil and gas company's stock after selling 5,904 shares during the quarter. Mediolanum International Funds Ltd's holdings in Marathon Petroleum were worth $7,758,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MPC. Fourth Dimension Wealth LLC acquired a new position in Marathon Petroleum in the fourth quarter worth approximately $26,000. CBIZ Investment Advisory Services LLC grew its position in Marathon Petroleum by 1,546.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company's stock worth $31,000 after buying an additional 201 shares during the last quarter. Hughes Financial Services LLC acquired a new position in Marathon Petroleum in the first quarter worth approximately $32,000. Decker Retirement Planning Inc. grew its position in 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 buying an additional 227 shares during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC purchased a new position in Marathon Petroleum during the 1st quarter worth approximately $35,000. Institutional investors and hedge funds own 76.77% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Morgan Stanley lifted their price objective on shares of Marathon Petroleum from $160.00 to $182.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Scotiabank reissued an "outperform" rating on shares of Marathon Petroleum in a research note on Friday, July 11th. Evercore ISI began coverage on shares of Marathon Petroleum in a research note on Wednesday, June 18th. They set an "in-line" rating and a $170.00 target price for the company. Piper Sandler lifted their target price on shares of Marathon Petroleum from $175.00 to $182.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. 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. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $183.93.

Insiders Place Their Bets

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 7,392 shares of the business'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 directly owned 18,944 shares in the company, valued at $3,315,200. The trade was a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.25% of the stock is currently owned by insiders.

Marathon Petroleum Stock Performance

Shares of NYSE:MPC traded down $3.51 on Wednesday, hitting $171.92. 380,650 shares of the company were exchanged, compared to its average volume of 2,715,312. The company's 50 day moving average price is $168.18 and its two-hundred day moving average price is $152.87. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $183.31. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.73 and a current ratio of 1.19. The firm has a market capitalization of $52.82 billion, a price-to-earnings ratio of 24.18, a PEG ratio of 2.98 and a beta of 0.88.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, beating analysts' consensus estimates of ($0.40) by $0.16. The business had revenue of $31.85 billion for the quarter, compared to analysts' expectations of $28.91 billion. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. The firm's revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.58 earnings per share. Research analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

About Marathon Petroleum

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.