Marathon Petroleum Corporation $MPC Shares Sold by ING Groep NV

ING Groep NV cut its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 96.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,461 shares of the oil and gas company’s stock after selling 58,781 shares during the quarter. ING Groep NV’s holdings in Marathon Petroleum were worth $400,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Navalign LLC purchased a new position in shares of Marathon Petroleum during the 4th quarter valued at approximately $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Marathon Petroleum in the fourth quarter worth $31,000. Berbice Capital Management LLC increased its stake in shares of Marathon Petroleum by 100.0% in the fourth quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock worth $33,000 after buying an additional 100 shares during the last quarter. WFA of San Diego LLC acquired a new stake in Marathon Petroleum in the second quarter valued at $33,000. Finally, Ares Financial Consulting LLC bought a new position in Marathon Petroleum during the 4th quarter valued at $34,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Trading Up 2.1%

Marathon Petroleum stock opened at $263.51 on Thursday. Marathon Petroleum Corporation has a 1 year low of $158.00 and a 1 year high of $272.46. The firm’s 50-day moving average is $243.74 and its 200-day moving average is $211.55. 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 company has a market cap of $76.93 billion, a P/E ratio of 17.20, a PEG ratio of 0.41 and a beta of 0.52.

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

Marathon Petroleum Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $4.00 annualized dividend and a dividend yield of 1.5%. Marathon Petroleum’s dividend payout ratio is 26.11%.

Insider Buying and Selling

In related news, VP Michael A. Henschen II sold 6,336 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the completion of the transaction, the vice president directly owned 16,900 shares in the company, valued at $4,543,058. This represents a 27.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ricky D. Hessling sold 1,626 shares of the stock in a transaction on Friday, March 13th. The stock was sold at an average price of $228.18, for a total value of $371,020.68. Following the completion of the sale, the insider directly owned 7,525 shares in the company, valued at $1,717,054.50. This represents a 17.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.17% of the stock is currently owned by corporate insiders.

Marathon Petroleum News Roundup

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on MPC shares. Morgan Stanley boosted their target price on shares of Marathon Petroleum from $200.00 to $233.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. JPMorgan Chase & Co. lifted their price target on Marathon Petroleum from $235.00 to $257.00 in a research note on Wednesday, May 6th. The Goldman Sachs Group boosted their price objective on Marathon Petroleum from $264.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Mizuho upped their price objective on Marathon Petroleum from $224.00 to $284.00 and gave the company a “neutral” rating in a research note on Wednesday, May 27th. Finally, Raymond James Financial increased their target price on Marathon Petroleum from $285.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $270.38.

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.