Erste Asset Management GmbH Sells 2,800 Shares of Marathon Petroleum Corporation $MPC

Erste Asset Management GmbH reduced its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 35.0% in the fourth quarter, Holdings Channel reports. The fund owned 5,200 shares of the oil and gas company’s stock after selling 2,800 shares during the quarter. Erste Asset Management GmbH’s holdings in Marathon Petroleum were worth $851,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Creative Financial Designs Inc. ADV grew its position in shares of Marathon Petroleum by 2.6% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 2,050 shares of the oil and gas company’s stock valued at $333,000 after acquiring an additional 51 shares during the period. IFG Advisory LLC lifted its stake in Marathon Petroleum by 1.5% in the 4th quarter. IFG Advisory LLC now owns 3,429 shares of the oil and gas company’s stock worth $558,000 after purchasing an additional 51 shares in the last quarter. Auxano Advisors LLC lifted its stake in Marathon Petroleum by 2.1% in the 4th quarter. Auxano Advisors LLC now owns 2,630 shares of the oil and gas company’s stock worth $428,000 after purchasing an additional 55 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its position in shares of Marathon Petroleum by 0.6% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 10,287 shares of the oil and gas company’s stock valued at $1,673,000 after buying an additional 57 shares in the last quarter. Finally, Legacy Bridge LLC raised its position in shares of Marathon Petroleum by 12.5% during the 4th quarter. Legacy Bridge LLC now owns 523 shares of the oil and gas company’s stock valued at $85,000 after buying an additional 58 shares in the last quarter. 76.77% of the stock is owned by institutional investors.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The shares were 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 directly owned 16,900 shares of the company’s stock, valued at approximately $4,543,058. This represents a 27.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ricky D. Hessling sold 1,626 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $228.18, for a total transaction of $371,020.68. Following 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.17% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MPC. Wall Street Zen upgraded shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 10th. Mizuho raised their price target on shares of Marathon Petroleum from $224.00 to $284.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. Bank of America raised their price target on shares of Marathon Petroleum from $224.00 to $260.00 in a report on Tuesday, May 26th. Morgan Stanley raised their price objective on shares of Marathon Petroleum from $200.00 to $233.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. Finally, Citigroup raised their target price on Marathon Petroleum from $243.00 to $257.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $270.38.

Marathon Petroleum Stock Up 2.1%

Shares of Marathon Petroleum stock opened at $263.51 on Thursday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.73 and a current ratio of 1.18. The stock has a market capitalization of $76.93 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 0.41 and a beta of 0.52. Marathon Petroleum Corporation has a 52-week low of $158.00 and a 52-week high of $272.46. The company has a 50-day simple moving average of $243.74 and a two-hundred day simple moving average of $211.55.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.91. The business had revenue of $34.20 billion during the quarter, compared to analysts’ expectations of $33.42 billion. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.24) earnings per share. On average, analysts anticipate that Marathon Petroleum Corporation will post 30.05 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were 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 was Wednesday, May 20th. Marathon Petroleum’s payout ratio is presently 26.11%.

Key Stories Impacting Marathon Petroleum

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

• Positive Sentiment: Raymond James raised its price target on Marathon Petroleum to $300 from $285 and kept an outperform rating, signaling additional upside potential for MPC. Raymond James raises price target on Marathon Petroleum to 300 from 285
• Positive Sentiment: MPC was included on Zacks’ list of top growth and momentum stocks, reflecting strong earnings trends, favorable price action, and upbeat growth forecasts. Best Growth Stocks to Buy for June 10th
• Positive Sentiment: Analysts highlighted Marathon Petroleum as a beneficiary of tight fuel supply and strong refining margins, with one article noting MPC has rallied sharply over the past six months and still offers further upside. 2 Refining Stocks With 35%+ Upside in 6 Months Despite High Oil Prices
• Positive Sentiment: Marathon Petroleum’s strong recent earnings beat and dividend support continue to underpin investor confidence, with the company recently paying a $1.00 quarterly dividend. MarketBeat Marathon Petroleum stock page
• Neutral Sentiment: There was also an insider sale disclosed for VP Michael Henschen II, which may draw attention but does not necessarily change the company’s fundamentals. Marathon Petroleum VP Michael Henschen II Sells 6,336 Shares

Marathon Petroleum 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.