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National Bank of Canada FI Reduces Stock Position in Marathon Petroleum Corporation (NYSE:MPC)

Marathon Petroleum logo with Energy background

Key Points

  • National Bank of Canada FI significantly reduced its stake in Marathon Petroleum Corporation by 81.5%, selling over 915,000 shares and leaving it with a total of 208,065 shares valued at approximately $30 million.
  • Analysts have recently increased their target prices for Marathon Petroleum, with Wells Fargo raising it from $182 to $205, reflecting an overall positive outlook in the market.
  • Marathon Petroleum announced a quarterly dividend of $0.91 per share, with an annualized yield of 2.3%, indicating the company's commitment to returning value to shareholders.
  • Looking to Export and Analyze Marathon Petroleum Data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

National Bank of Canada FI lowered its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 81.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 208,065 shares of the oil and gas company's stock after selling 915,696 shares during the quarter. National Bank of Canada FI owned 0.07% of Marathon Petroleum worth $30,312,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Fourth Dimension Wealth LLC purchased a new position in Marathon Petroleum during the 4th quarter valued at $26,000. CBIZ Investment Advisory Services LLC boosted its holdings in Marathon Petroleum by 1,546.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company's stock valued at $31,000 after acquiring an additional 201 shares during the period. Hughes Financial Services LLC purchased a new position in Marathon Petroleum during the 1st quarter valued at $32,000. Decker Retirement Planning Inc. lifted its holdings in shares of Marathon Petroleum by 1,621.4% in the 1st 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 period. Finally, Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Marathon Petroleum in the 1st quarter worth $35,000. Hedge funds and other institutional investors own 76.77% of the company's stock.

Insider Transactions at Marathon Petroleum

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 stock was sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the transaction, the director directly owned 18,944 shares of the company's stock, valued at $3,315,200. This represents a 28.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.21% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Wells Fargo & Company upped their target price on Marathon Petroleum from $182.00 to $205.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Barclays upped their target price on Marathon Petroleum from $159.00 to $189.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. UBS Group upped their target price on Marathon Petroleum from $175.00 to $203.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. Dbs Bank upgraded Marathon Petroleum to a "moderate buy" rating in a report on Monday, July 28th. Finally, Citigroup upped their target price on Marathon Petroleum from $144.00 to $182.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Marathon Petroleum currently has a consensus rating of "Hold" and a consensus price target of $185.29.

Get Our Latest Stock Analysis on Marathon Petroleum

Marathon Petroleum Trading Down 0.3%

Shares of NYSE:MPC opened at $160.95 on Friday. The business's 50-day moving average is $169.25 and its 200 day moving average is $153.74. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $183.10. The firm has a market capitalization of $48.93 billion, a P/E ratio of 23.88, a P/E/G ratio of 2.80 and a beta of 0.90. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.73.

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 (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.74. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%. The company had revenue of $34.10 billion for the quarter, compared to analyst estimates of $31.70 billion. During the same period in the prior year, the company posted $4.12 EPS. The firm's quarterly revenue was down 11.1% compared to the same quarter last year. On average, research analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Wednesday, August 20th. Marathon Petroleum's dividend payout ratio is currently 54.01%.

Marathon Petroleum Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding MPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Petroleum Corporation (NYSE:MPC - Free Report).

Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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