Van ECK Associates Corp Cuts Position in Marathon Petroleum Corporation $MPC

Van ECK Associates Corp lowered its stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 46.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 72,414 shares of the oil and gas company's stock after selling 61,635 shares during the period. Van ECK Associates Corp's holdings in Marathon Petroleum were worth $18,514,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Nissay Asset Management Corp Japan increased its holdings in Marathon Petroleum by 2.3% in the second quarter. Nissay Asset Management Corp Japan now owns 39,384 shares of the oil and gas company's stock valued at $10,069,000 after buying an additional 886 shares in the last quarter. Field & Main Bank purchased a new stake in shares of Marathon Petroleum during the 2nd quarter worth approximately $591,000. Archer Investment Corp acquired a new stake in shares of Marathon Petroleum in the 2nd quarter worth approximately $78,000. Kingsview Wealth Management LLC purchased a new position in Marathon Petroleum in the 2nd quarter valued at approximately $11,856,000. Finally, Henson Edgewater Management LLC acquired a new position in Marathon Petroleum during the second quarter worth $973,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Stock Up 0.0%

Shares of NYSE:MPC opened at $369.00 on Monday. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $107.72 billion, a P/E ratio of 12.68, a P/E/G ratio of 0.24 and a beta of 0.52. Marathon Petroleum Corporation has a 52-week low of $161.93 and a 52-week high of $369.12. The stock's fifty day simple moving average is $308.87 and its 200-day simple moving average is $260.60.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, beating the consensus estimate of $14.27 by $3.46. The firm had revenue of $51.99 billion during the quarter, compared to the consensus estimate of $40.87 billion. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The firm's revenue for the quarter was up 53.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.96 EPS. As a group, equities research analysts forecast that Marathon Petroleum Corporation will post 46.66 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 19th. Marathon Petroleum's payout ratio is currently 13.75%.

Analyst Ratings Changes

Several analysts have weighed in on MPC shares. Raymond James Financial upped their target price on Marathon Petroleum from $300.00 to $335.00 and gave the company an "outperform" rating in a report on Monday, July 13th. Wall Street Zen upgraded shares of Marathon Petroleum from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 10th. The Goldman Sachs Group increased their price objective on shares of Marathon Petroleum from $291.00 to $376.00 and gave the company a "buy" rating in a research note on Wednesday, July 22nd. Barclays raised their target price on shares of Marathon Petroleum from $289.00 to $321.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. Finally, Bank of America upped their price target on shares of Marathon Petroleum from $224.00 to $260.00 in a report on Tuesday, May 26th. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $312.50.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, SVP Shawn M. Lyon sold 2,500 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $350.00, for a total transaction of $875,000.00. Following the transaction, the senior vice president owned 12,619 shares of the company's stock, valued at $4,416,650. This represents a 16.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Michael A. Henschen II sold 6,336 shares of the firm's stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total value of $1,703,243.52. Following the sale, the vice president owned 16,900 shares in the company, valued at $4,543,058. This trade represents a 27.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 26,032 shares of company stock valued at $8,744,213. Company insiders own 0.17% of the company's stock.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source