KBC Group NV cut its stake in Marathon Petroleum Co. (NYSE:MPC – Get Rating) by 25.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,677 shares of the oil and gas company’s stock after selling 15,581 shares during the quarter. KBC Group NV’s holdings in Marathon Petroleum were worth $3,820,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of MPC. Allspring Global Investments Holdings LLC bought a new stake in shares of Marathon Petroleum in the 4th quarter valued at about $10,039,000. CWM LLC bought a new stake in shares of Marathon Petroleum in the 4th quarter valued at about $718,000. Nomura Asset Management Co. Ltd. increased its stake in Marathon Petroleum by 4.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 150,387 shares of the oil and gas company’s stock worth $9,623,000 after purchasing an additional 5,776 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Marathon Petroleum by 3.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 6,885 shares of the oil and gas company’s stock worth $441,000 after purchasing an additional 259 shares in the last quarter. Finally, Fifth Third Bancorp increased its stake in Marathon Petroleum by 21.8% during the 4th quarter. Fifth Third Bancorp now owns 436,648 shares of the oil and gas company’s stock worth $27,941,000 after purchasing an additional 78,083 shares in the last quarter. 80.91% of the stock is owned by institutional investors.
Insider Activity at Marathon Petroleum
In related news, VP Raymond L. Brooks sold 133,857 shares of the stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $96.82, for a total value of $12,960,034.74. Following the sale, the vice president now owns 63,248 shares in the company, valued at approximately $6,123,671.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.28% of the stock is owned by company insiders.
Marathon Petroleum Trading Up 0.1 %
Marathon Petroleum (NYSE:MPC – Get Rating) last released its quarterly earnings data on Tuesday, August 2nd. The oil and gas company reported $10.61 EPS for the quarter, beating the consensus estimate of $4.98 by $5.63. The company had revenue of $54.33 billion during the quarter, compared to the consensus estimate of $44.26 billion. Marathon Petroleum had a return on equity of 23.85% and a net margin of 5.09%. The firm’s revenue for the quarter was up 82.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.67 EPS. On average, equities research analysts anticipate that Marathon Petroleum Co. will post 19 EPS for the current fiscal year.
Marathon Petroleum Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 12th. Investors of record on Wednesday, August 17th will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date is Tuesday, August 16th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 15.68%.
Analyst Ratings Changes
A number of research firms recently issued reports on MPC. Citigroup increased their target price on Marathon Petroleum from $85.00 to $108.00 and gave the stock a “buy” rating in a research note on Tuesday, April 26th. Piper Sandler increased their target price on Marathon Petroleum from $106.00 to $111.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 19th. Morgan Stanley increased their target price on Marathon Petroleum from $115.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, July 15th. BMO Capital Markets assumed coverage on Marathon Petroleum in a research note on Monday, June 13th. They set an “outperform” rating and a $135.00 target price for the company. Finally, Royal Bank of Canada upped their price target on Marathon Petroleum from $110.00 to $121.00 and gave the stock an “outperform” rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $112.83.
Marathon Petroleum Profile
Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. It operates in two segments, Refining & Marketing, and Midstream. 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.
- Get a free copy of the StockNews.com research report on Marathon Petroleum (MPC)
- MarketBeat: Week in Review 8/1 – 8/5
- How to Use High Beta Stocks to Maximize Your Investing Profits
- Cronos Group Inc’s Revenues Are Up, Is It Time to Buy?
- Why Apple Could Be At All-Time Highs By Year End
- Beyond Meat Is Not Beyond Hope, And It’s Cheap
Receive News & Ratings for Marathon Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marathon Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.