US Bancorp DE Sells 48,050 Shares of Marathon Petroleum Corporation $MPC

Key Points

• US Bancorp DE sold 48,050 shares of Marathon Petroleum, trimming its stake by 2.9% to 1,607,011 shares valued at about $261.35 million at quarter-end.
• Marathon beat quarterly estimates with EPS of $4.07 (vs. $3.73 est.) and revenue of $32.57B (vs. $30.89B), and announced a $1.00 quarterly dividend ($4.00 annual, ~1.7% yield).
• Shares are trading up ~3.9% at $241.75 with a $71.19B market cap, an average analyst target near $241.81 (consensus "Moderate Buy"), and institutional ownership of 76.77%.

US Bancorp DE reduced its stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 2.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,607,011 shares of the oil and gas company's stock after selling 48,050 shares during the period. US Bancorp DE owned 0.53% of Marathon Petroleum worth $261,348,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Alberta Investment Management Corp bought a new position in shares of Marathon Petroleum in the third quarter worth about $2,891,000. Diversified Trust Co. increased its stake in shares of Marathon Petroleum by 39.3% in the fourth quarter. Diversified Trust Co. now owns 15,675 shares of the oil and gas company's stock worth $2,549,000 after purchasing an additional 4,419 shares during the period. First Interstate Bank bought a new position in shares of Marathon Petroleum in the third quarter worth about $5,050,000. Generali Asset Management SPA SGR increased its stake in shares of Marathon Petroleum by 36.8% in the third quarter. Generali Asset Management SPA SGR now owns 41,225 shares of the oil and gas company's stock worth $7,946,000 after purchasing an additional 11,082 shares during the period. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Marathon Petroleum in the third quarter worth about $1,004,000. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Trading Up 3.9%

Shares of MPC opened at $241.75 on Thursday. Marathon Petroleum Corporation has a 12-month low of $133.00 and a 12-month high of $255.77. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $71.19 billion, a price-to-earnings ratio of 18.11, a P/E/G ratio of 0.34 and a beta of 0.58. The stock's 50-day moving average price is $224.95 and its 200 day moving average price is $199.02.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings data on Tuesday, February 3rd. The oil and gas company reported $4.07 earnings per share for the quarter, beating analysts' consensus estimates of $3.73 by $0.34. The company had revenue of $32.57 billion for the quarter, compared to the consensus estimate of $30.89 billion. Marathon Petroleum had a return on equity of 13.90% and a net margin of 2.99%.The company's quarterly revenue was down .1% on a year-over-year basis. During the same period in the previous year, the business earned $0.77 earnings per share. As a group, research analysts predict that Marathon Petroleum Corporation will post 25.79 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Wednesday, May 20th. Marathon Petroleum's payout ratio is presently 29.96%.

Wall Street Analysts Forecast Growth

MPC has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price objective on Marathon Petroleum from $200.00 to $233.00 and gave the stock an "overweight" rating in a research note on Friday, April 24th. TD Cowen lifted their price objective on Marathon Petroleum from $198.00 to $299.00 and gave the stock a "buy" rating in a research note on Wednesday, April 1st. Barclays boosted their price target on Marathon Petroleum from $194.00 to $230.00 and gave the company an "overweight" rating in a research note on Friday, April 10th. JPMorgan Chase & Co. boosted their price target on Marathon Petroleum from $184.00 to $235.00 and gave the company a "neutral" rating in a research note on Thursday, April 9th. Finally, Wells Fargo & Company boosted their price target on Marathon Petroleum from $213.00 to $217.00 and gave the company an "overweight" rating in a research note on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $241.81.

Insiders Place Their Bets

In other Marathon Petroleum news, insider Ricky D. Hessling sold 1,626 shares of Marathon Petroleum stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $228.18, for a total transaction of $371,020.68. Following the sale, the insider directly owned 7,525 shares of the company's stock, valued at approximately $1,717,054.50. The trade was a 17.77% 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. Insiders sold 4,473 shares of company stock worth $1,015,428 over the last 90 days. 0.17% of the stock is currently owned by insiders.

Marathon Petroleum Profile

Marathon Petroleum Corporation NYSE: MPC is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum's operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.