Amundi Sells 1,233,780 Shares of Marathon Petroleum Corporation $MPC

Amundi reduced its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC — Free Report) by 45.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,454,690 shares of the oil and gas company’s stock after selling 1,233,780 shares during the quarter. Amundi owned 0.48% of Marathon Petroleum worth $253,785,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Concord Asset Management LLC VA bought a new stake in shares of Marathon Petroleum during the second quarter worth $412,000. Jump Financial LLC lifted its stake in shares of Marathon Petroleum by 128.0% in the 1st quarter. Jump Financial LLC now owns 8,663 shares of the oil and gas company’s stock valued at $1,262,000 after acquiring an additional 4,863 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in shares of Marathon Petroleum by 459.5% during the 2nd quarter. Los Angeles Capital Management LLC now owns 189,973 shares of the oil and gas company’s stock valued at $31,556,000 after acquiring an additional 156,019 shares in the last quarter. FSM Wealth Advisors LLC bought a new stake in Marathon Petroleum during the 2nd quarter worth $685,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Marathon Petroleum by 12.6% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 578,641 shares of the oil and gas company’s stock worth $84,302,000 after acquiring an additional 64,849 shares during the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Stock Performance

NYSE:MPC opened at $190.47 on Friday. The company has a market capitalization of $57.25 billion, a PE ratio of 20.31, a P/E/G ratio of 0.98 and a beta of 0.72. The company has a 50 day simple moving average of $191.51 and a two-hundred day simple moving average of $178.45. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.79 and a current ratio of 1.32. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $202.29.

Marathon Petroleum (NYSE:MPC — Get Free Report) last issued its quarterly earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.00 by $0.01. Marathon Petroleum had a net margin of 2.13% and a return on equity of 9.76%. The firm had revenue of $34.81 billion for the quarter, compared to the consensus estimate of $31.06 billion. Research analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Wednesday, November 19th will be issued a $1.00 dividend. The ex-dividend date is Wednesday, November 19th. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.91. This represents a $4.00 annualized dividend and a yield of 2.1%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 42.64%.

Analysts Set New Price Targets

Several research firms have commented on MPC. Barclays increased their target price on Marathon Petroleum from $194.00 to $202.00 and gave the company an “overweight” rating in a research report on Monday, November 17th. Wall Street Zen upgraded shares of Marathon Petroleum from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Bank of America lifted their target price on shares of Marathon Petroleum from $184.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 3rd. JPMorgan Chase & Co. boosted their target price on shares of Marathon Petroleum from $183.00 to $211.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Marathon Petroleum in a research note on Thursday, October 9th. Eight analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $203.21.

Read Our Latest Report on Marathon Petroleum

About Marathon Petroleum

(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

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