Stonebrook Private Inc. Decreases Stake in Marathon Petroleum Corporation $MPC

Stonebrook Private Inc. decreased its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 49.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 11,299 shares of the oil and gas company’s stock after selling 10,925 shares during the quarter. Stonebrook Private Inc.’s holdings in Marathon Petroleum were worth $1,838,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in MPC. Norges Bank purchased a new stake in Marathon Petroleum during the fourth quarter worth approximately $472,312,000. Assenagon Asset Management S.A. lifted its stake in Marathon Petroleum by 332.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 320,499 shares of the oil and gas company’s stock worth $52,123,000 after purchasing an additional 246,384 shares during the last quarter. Merewether Investment Management LP purchased a new stake in Marathon Petroleum during the second quarter worth approximately $35,548,000. Amundi lifted its stake in Marathon Petroleum by 11.8% during the third quarter. Amundi now owns 1,626,862 shares of the oil and gas company’s stock worth $314,830,000 after purchasing an additional 172,172 shares during the last quarter. Finally, Boston Partners lifted its stake in Marathon Petroleum by 2.3% during the third quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company’s stock worth $1,214,522,000 after purchasing an additional 141,691 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Trading Down 3.0%

NYSE:MPC opened at $258.13 on Wednesday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.18 and a quick ratio of 0.73. The firm has a market capitalization of $75.36 billion, a P/E ratio of 16.85, a P/E/G ratio of 0.43 and a beta of 0.52. The business has a 50 day simple moving average of $243.38 and a 200 day simple moving average of $211.02. Marathon Petroleum Corporation has a 12-month low of $158.00 and a 12-month high of $272.46.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.91. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The business had revenue of $34.20 billion during the quarter, compared to analyst estimates of $33.42 billion. During the same quarter in the prior year, the firm posted ($0.24) earnings per share. The company’s revenue was up 8.5% on a year-over-year basis. Equities research analysts predict that Marathon Petroleum Corporation will post 30.05 EPS for the current year.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Wednesday, May 20th. Marathon Petroleum’s dividend payout ratio is currently 26.11%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Barclays raised their target price on shares of Marathon Petroleum from $230.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Zacks Research upgraded Marathon Petroleum from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 7th. Scotiabank raised their price objective on Marathon Petroleum from $174.00 to $210.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 22nd. Jefferies Financial Group raised their target price on Marathon Petroleum from $279.00 to $296.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Finally, The Goldman Sachs Group raised their target price on Marathon Petroleum from $264.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, Marathon Petroleum has a consensus rating of “Moderate Buy” and an average target price of $268.50.

Key Marathon Petroleum News

Here are the key news stories impacting Marathon Petroleum this week:

• Positive Sentiment: Marathon Petroleum reported first-quarter earnings that beat expectations and recently expanded its share repurchase authorization to $8.6 billion, reinforcing confidence in cash generation and capital returns. Article Title
• Positive Sentiment: Analyst coverage remains constructive, with Marathon Petroleum included on a Zacks Strong Buy growth list and described as a strong value stock, supporting a favorable longer-term outlook. Article Title

Insider Buying and Selling at Marathon Petroleum

In related news, insider Ricky D. Hessling sold 1,626 shares of the stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $228.18, for a total value of $371,020.68. Following the completion of the sale, the insider directly owned 7,525 shares of the company’s stock, valued at approximately $1,717,054.50. This represents a 17.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael A. Henschen II sold 6,336 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the completion of the sale, the vice president owned 16,900 shares of the company’s stock, valued at approximately $4,543,058. The trade was a 27.27% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 8,999 shares of company stock valued at $2,311,820. 0.17% of the stock is currently owned by company insiders.

Marathon Petroleum Company 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.