US Bancorp DE Reduces Stock Holdings in Marathon Petroleum Corporation (NYSE:MPC)

Key Points

• US Bancorp DE has reduced its holdings in Marathon Petroleum by 2.1%, selling 39,332 shares and owning 1,871,971 shares worth approximately $272.7 million now.
• Marathon Petroleum's stock has been upgraded by several brokerages, with Morgan Stanley raising the target price from $160 to $182 and giving it an "overweight" rating.
• Marathon Petroleum recently announced a quarterly dividend of $0.91 per share, set to be paid on September 10th, representing an annualized yield of 2.1%.

US Bancorp DE trimmed its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 2.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,871,971 shares of the oil and gas company's stock after selling 39,332 shares during the period. US Bancorp DE owned about 0.60% of Marathon Petroleum worth $272,728,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Demars Financial Group LLC grew its position in Marathon Petroleum by 16,338.3% in the 4th quarter. Demars Financial Group LLC now owns 4,177,133 shares of the oil and gas company's stock worth $582,710,000 after purchasing an additional 4,151,722 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Marathon Petroleum by 14,969.1% in the 1st quarter. GAMMA Investing LLC now owns 1,540,963 shares of the oil and gas company's stock worth $224,503,000 after acquiring an additional 1,530,737 shares during the period. Two Sigma Investments LP acquired a new stake in Marathon Petroleum during the fourth quarter valued at approximately $81,318,000. Two Sigma Advisers LP acquired a new stake in Marathon Petroleum during the fourth quarter valued at approximately $71,842,000. Finally, Northern Trust Corp lifted its position in shares of Marathon Petroleum by 14.0% in the 4th quarter. Northern Trust Corp now owns 3,937,348 shares of the oil and gas company's stock valued at $549,260,000 after acquiring an additional 484,438 shares in the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Raymond James Financial reiterated an "outperform" rating and issued a $200.00 price objective (up previously from $180.00) on shares of Marathon Petroleum in a research note on Tuesday, July 15th. Scotiabank reissued an "outperform" rating on shares of Marathon Petroleum in a report on Friday, July 11th. Wall Street Zen raised shares of Marathon Petroleum from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Citigroup increased their target price on shares of Marathon Petroleum from $144.00 to $182.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 16th. Finally, Mizuho raised their price objective on shares of Marathon Petroleum from $168.00 to $184.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. 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 stock. Based on data from MarketBeat.com, Marathon Petroleum has a consensus rating of "Hold" and an average price target of $183.93.

Marathon Petroleum Stock Down 0.1%

MPC traded down $0.21 during mid-day trading on Tuesday, reaching $167.76. 960,273 shares of the stock were exchanged, compared to its average volume of 2,688,343. The stock has a market capitalization of $51.54 billion, a PE ratio of 23.53, a price-to-earnings-growth ratio of 2.83 and a beta of 0.90. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $183.10. 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 company has a 50 day moving average price of $169.00 and a two-hundred day moving average price of $153.40.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.22 by $0.74. Marathon Petroleum had a return on equity of 8.89% and a net margin of 1.75%. The business had revenue of $34.10 billion for the quarter, compared to analysts' expectations of $31.70 billion. During the same quarter in the prior year, the firm posted $4.12 EPS. The firm's quarterly revenue was down 11.1% on a year-over-year basis. As a group, research analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

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 issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Wednesday, August 20th. Marathon Petroleum's dividend payout ratio is currently 51.20%.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 7,392 shares of the stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total value of $1,293,600.00. Following the completion of the transaction, the director owned 18,944 shares in the company, valued at approximately $3,315,200. This represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.21% of the stock is currently owned by corporate insiders.

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.