Raiffeisen Bank International AG Lowers Stake in Marathon Petroleum Corporation $MPC

Raiffeisen Bank International AG reduced its position in Marathon Petroleum Corporation (NYSE:MPC) by 5.0% in the second quarter, HoldingsChannel.com reports. The firm owned 7,317 shares of the oil and gas company’s stock after selling 385 shares during the period. Raiffeisen Bank International AG’s holdings in Marathon Petroleum were worth $1,212,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jump Financial LLC grew its position in shares of Marathon Petroleum by 128.0% during the first quarter. Jump Financial LLC now owns 8,663 shares of the oil and gas company’s stock worth $1,262,000 after purchasing an additional 4,863 shares in the last quarter. Concord Asset Management LLC VA bought a new position in Marathon Petroleum in the 2nd quarter worth approximately $412,000. Journey Strategic Wealth LLC grew its holdings in Marathon Petroleum by 105.0% during the 1st quarter. Journey Strategic Wealth LLC now owns 8,582 shares of the oil and gas company’s stock valued at $1,250,000 after buying an additional 4,396 shares in the last quarter. FSM Wealth Advisors LLC bought a new stake in shares of Marathon Petroleum during the second quarter valued at approximately $685,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Marathon Petroleum by 12.6% in the first 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 buying an additional 64,849 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Stock Up 1.8%

Shares of NYSE:MPC opened at $199.44 on Wednesday. The company has a market cap of $59.95 billion, a price-to-earnings ratio of 21.26, a PEG ratio of 3.74 and a beta of 0.90. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $202.29. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 1.31. The company has a 50-day moving average price of $190.28 and a 200 day moving average price of $175.35.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.01. The company had revenue of $34.81 billion for the quarter, compared to analysts’ expectations of $31.06 billion. Marathon Petroleum had a return on equity of 9.76% and a net margin of 2.13%. As a group, equities research analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Wednesday, November 19th will be given a $1.00 dividend. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.91. This represents a $4.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Wednesday, November 19th. Marathon Petroleum’s dividend payout ratio is 38.81%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MPC. JPMorgan Chase & Co. raised their target price on shares of Marathon Petroleum from $183.00 to $211.00 and gave the company a “neutral” rating in a research note on Wednesday, November 12th. UBS Group raised their price objective on Marathon Petroleum from $203.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, September 26th. Bank of America boosted their target price on Marathon Petroleum from $184.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 3rd. Piper Sandler increased their price target on Marathon Petroleum from $220.00 to $231.00 and gave the company a “neutral” rating in a research note on Friday, November 14th. Finally, Barclays raised their price target on Marathon Petroleum from $194.00 to $202.00 and gave the company an “overweight” rating in a report on Monday. Eight investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $202.14.

Marathon Petroleum Company Profile

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.