Boston Partners Trims Stock Position in Marathon Petroleum Corporation $MPC

Boston Partners lessened its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 2.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,119,715 shares of the oil and gas company’s stock after selling 185,713 shares during the period. Marathon Petroleum makes up 1.0% of Boston Partners’ holdings, making the stock its 12th biggest position. Boston Partners’ holdings in Marathon Petroleum were worth $997,916,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MPC. Norges Bank purchased a new stake in shares of Marathon Petroleum during the fourth quarter worth about $472,312,000. Legal & General Group Plc lifted its holdings in shares of Marathon Petroleum by 2.0% in the 3rd quarter. Legal & General Group Plc now owns 1,861,020 shares of the oil and gas company’s stock worth $358,693,000 after acquiring an additional 35,847 shares during the last quarter. Amundi lifted its holdings in Marathon Petroleum by 11.8% during the 3rd quarter. Amundi now owns 1,626,862 shares of the oil and gas company’s stock worth $314,830,000 after buying an additional 172,172 shares in the last quarter. Capital Wealth Planning LLC lifted its holdings in Marathon Petroleum by 49,392.0% during the 4th quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company’s stock worth $245,157,000 after buying an additional 1,495,097 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in Marathon Petroleum by 17.2% during the 4th quarter. Deutsche Bank AG now owns 1,023,370 shares of the oil and gas company’s stock worth $166,431,000 after buying an additional 150,372 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Insiders Place Their Bets

In other news, VP Michael A. Henschen II sold 6,336 shares of the company’s stock in a transaction dated 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 transaction, the vice president owned 16,900 shares in the company, valued at approximately $4,543,058. This represents a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.17% of the stock is currently owned by insiders.

Marathon Petroleum Trading Up 0.9%

Shares of MPC stock opened at $263.10 on Friday. The stock has a market cap of $76.81 billion, a price-to-earnings ratio of 17.17, a price-to-earnings-growth ratio of 0.40 and a beta of 0.52. The company has a quick ratio of 0.73, a current ratio of 1.18 and a debt-to-equity ratio of 1.31. Marathon Petroleum Corporation has a fifty-two week low of $158.00 and a fifty-two week high of $272.46. The firm’s 50 day moving average price is $244.57 and its two-hundred day moving average price is $212.40.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.91. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The business had revenue of $34.20 billion for the quarter, compared to analysts’ expectations of $33.42 billion. During the same period in the previous year, the company posted ($0.24) earnings per share. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, analysts anticipate that Marathon Petroleum Corporation will post 31.05 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were paid a dividend of $1.00 per share. The ex-dividend date was Wednesday, May 20th. This represents a $4.00 annualized dividend and a yield of 1.5%. Marathon Petroleum’s payout ratio is presently 26.11%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MPC. Wells Fargo & Company increased their price objective on shares of Marathon Petroleum from $335.00 to $344.00 in a research report on Friday. Zacks Research upgraded shares of Marathon Petroleum from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 7th. Piper Sandler increased their price target on shares of Marathon Petroleum from $197.00 to $228.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. Barclays raised their target price on shares of Marathon Petroleum from $230.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Finally, UBS Group set a $285.00 price objective on shares of Marathon Petroleum in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $272.94.

Key Marathon Petroleum News

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

• Positive Sentiment: Marathon Petroleum was added to the Dow Jones Best-in-Class Indices after earning a top-quartile ESG score in the S&P Global Corporate Sustainability Assessment, which can support demand from sustainability-focused investors. Marathon Petroleum Named to Dow Jones Best-in-Class Indices
• Positive Sentiment: Wells Fargo raised its price target on MPC to $344 from $335, signaling continued analyst confidence and implying meaningful upside from current levels. Wells Fargo adjusts Marathon Petroleum price target
• Positive Sentiment: Zacks added MPC to its Rank #1 (Strong Buy) growth stocks list, reinforcing the view that the company remains attractive for growth and momentum investors. Best Growth Stocks to Buy for June 12th
• Positive Sentiment: Another Zacks note highlighted MPC as a strong momentum stock, which may be helping traders bid the shares higher in the near term. What Makes Marathon Petroleum (MPC) a Strong Momentum Stock: Buy Now?
• Neutral Sentiment: Investor commentary across several articles argued that MPC screens as a potentially attractive buy based on valuation and refining fundamentals, but these pieces were opinion-driven rather than new company-specific announcements. Is Marathon Petroleum Corporation (MPC) A Good Stock To Buy Now?

Marathon Petroleum Company 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.