Amundi Cuts Stake in Marathon Petroleum Corporation $MPC

Amundi decreased its holdings in Marathon Petroleum Corporation (NYSE:MPC — Free Report) by 4.2% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,688,470 shares of the oil and gas company’s stock after selling 119,096 shares during the period. Amundi owned approximately 0.88% of Marathon Petroleum worth $391,683,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Sunpointe LLC boosted its position in Marathon Petroleum by 5.1% during the 1st quarter. Sunpointe LLC now owns 1,681 shares of the oil and gas company’s stock valued at $245,000 after buying an additional 81 shares during the period. Beverly Hills Private Wealth LLC boosted its position in Marathon Petroleum by 1.3% during the 1st quarter. Beverly Hills Private Wealth LLC now owns 6,739 shares of the oil and gas company’s stock valued at $982,000 after buying an additional 84 shares during the period. Valmark Advisers Inc. boosted its position in Marathon Petroleum by 2.3% during the 1st quarter. Valmark Advisers Inc. now owns 3,801 shares of the oil and gas company’s stock valued at $554,000 after buying an additional 86 shares during the period. Southland Equity Partners LLC boosted its position in Marathon Petroleum by 6.2% during the 1st quarter. Southland Equity Partners LLC now owns 1,549 shares of the oil and gas company’s stock valued at $226,000 after buying an additional 90 shares during the period. Finally, Prudent Man Advisors LLC boosted its position in Marathon Petroleum by 2.3% during the 1st quarter. Prudent Man Advisors LLC now owns 4,056 shares of the oil and gas company’s stock valued at $591,000 after buying an additional 91 shares during the period. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on MPC shares. Piper Sandler increased their price target on shares of Marathon Petroleum from $175.00 to $182.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Scotiabank reissued an “outperform” rating on shares of Marathon Petroleum in a research report on Friday, July 11th. Mizuho increased their price target on shares of Marathon Petroleum from $168.00 to $184.00 and gave the company a “neutral” rating in a research report on Tuesday, May 13th. Wells Fargo & Company increased their price target on shares of Marathon Petroleum from $182.00 to $205.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Finally, Citigroup increased their price target on shares of Marathon Petroleum from $144.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, July 16th. Eight research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $186.57.

Get Our Latest Stock Report on Marathon Petroleum

Marathon Petroleum Stock Down 0.7%

Shares of NYSE MPC opened at $178.94 on Thursday. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $183.50. The firm has a market capitalization of $54.40 billion, a PE ratio of 26.55, a price-to-earnings-growth ratio of 3.27 and a beta of 0.97. The firm has a fifty day simple moving average of $171.26 and a two-hundred day simple moving average of $155.89. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15.

Marathon Petroleum (NYSE:MPC — Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $0.74. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The company had revenue of $34.10 billion during the quarter, compared to analysts’ expectations of $31.70 billion. During the same period last year, the company posted $4.12 EPS. Marathon Petroleum’s revenue was down 11.1% on a year-over-year basis. Equities analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Wednesday, August 20th. Marathon Petroleum’s dividend payout ratio (DPR) is 54.01%.

Insider Transactions at Marathon Petroleum

In related news, Director Kim K.W. Rucker sold 7,392 shares of Marathon Petroleum stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the completion of the transaction, the director directly owned 18,944 shares of the company’s stock, valued at $3,315,200. This trade represents a 28.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the transaction, the insider directly owned 28,700 shares of the company’s stock, valued at approximately $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Marathon Petroleum Company Profile

(Free Report)

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. 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 and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.

Further Reading

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).

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