Marathon Petroleum Corporation $MPC Shares Sold by Raiffeisen Bank International AG

Raiffeisen Bank International AG lessened its position in Marathon Petroleum Corporation (NYSE:MPC) by 42.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 3,479 shares of the oil and gas company’s stock after selling 2,529 shares during the period. Raiffeisen Bank International AG’s holdings in Marathon Petroleum were worth $902,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in MPC. Energy Income Partners LLC purchased a new position in Marathon Petroleum in the second quarter worth $4,912,000. Evolve Private Wealth LLC purchased a new stake in shares of Marathon Petroleum during the 2nd quarter worth $673,000. Railway Pension Investments Ltd acquired a new position in shares of Marathon Petroleum during the 2nd quarter worth $3,886,000. Pictet Asset Management Holding SA increased its holdings in shares of Marathon Petroleum by 31.0% in the 1st quarter. Pictet Asset Management Holding SA now owns 213,545 shares of the oil and gas company’s stock valued at $52,146,000 after purchasing an additional 50,521 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in shares of Marathon Petroleum by 570.7% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 168,644 shares of the oil and gas company’s stock valued at $41,180,000 after purchasing an additional 143,500 shares during the period. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Stock Up 0.6%

Shares of NYSE MPC opened at $389.86 on Friday. The firm’s 50-day moving average is $322.31 and its two-hundred day moving average is $266.52. The company has a market capitalization of $113.81 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 0.25 and a beta of 0.53. Marathon Petroleum Corporation has a 12-month low of $161.93 and a 12-month high of $398.52. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.27 by $3.46. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The firm had revenue of $51.99 billion during the quarter, compared to the consensus estimate of $40.87 billion. During the same period in the previous year, the firm posted $3.96 EPS. The company’s quarterly revenue was up 53.5% compared to the same quarter last year. Equities analysts anticipate that Marathon Petroleum Corporation will post 47.23 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, August 19th. Marathon Petroleum’s payout ratio is 13.75%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. TD Cowen upped their target price on shares of Marathon Petroleum from $357.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Wells Fargo & Company lifted their price target on shares of Marathon Petroleum from $359.00 to $400.00 and gave the company an “overweight” rating in a research report on Tuesday. Evercore set a $330.00 price target on Marathon Petroleum in a report on Wednesday, August 5th. The Goldman Sachs Group raised their price objective on Marathon Petroleum from $291.00 to $376.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Finally, Mizuho lifted their price objective on Marathon Petroleum from $284.00 to $304.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Twelve investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $322.44.

Insider Transactions at Marathon Petroleum

In related news, VP Erin M. Brzezinski sold 570 shares of the business’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $362.79, for a total value of $206,790.30. Following the completion of the transaction, the vice president owned 1,576 shares of the company’s stock, valued at approximately $571,757.04. The trade was a 26.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Molly R. Benson sold 17,196 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $358.57, for a total transaction of $6,165,969.72. Following the completion of the transaction, the insider owned 30,334 shares in the company, valued at approximately $10,876,862.38. This trade represents a 36.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 21,691 shares of company stock valued at $7,780,127 over the last three months. 0.17% of the stock is currently owned by 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.