Marathon Petroleum Corporation $MPC Stock: Fifth Third Bancorp Trims Holdings

Fifth Third Bancorp decreased its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 0.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 589,565 shares of the oil and gas company’s stock after selling 5,591 shares during the quarter. Fifth Third Bancorp’s holdings in Marathon Petroleum were worth $233,126,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Vaquero Private Wealth Ltd. purchased a new stake in Marathon Petroleum during the third quarter worth $39,000. Solstein Capital LLC purchased a new position in shares of Marathon Petroleum in the second quarter valued at $26,000. Caitlin John LLC purchased a new position in shares of Marathon Petroleum in the second quarter valued at $26,000. Bell Investment Advisors Inc purchased a new position in shares of Marathon Petroleum in the second quarter valued at $27,000. Finally, MeadowBrook Investment Advisors LLC acquired a new position in shares of Marathon Petroleum during the 3rd quarter worth $47,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Insider Activity at Marathon Petroleum

In related news, SVP Shawn M. Lyon sold 1,000 shares of the business’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $375.75, for a total value of $375,750.00. Following the completion of the transaction, the senior vice president owned 11,194 shares of the company’s stock, valued at approximately $4,206,145.50. The trade was a 8.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Erin M. Brzezinski sold 570 shares of the business’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $362.79, for a total transaction of $206,790.30. Following the completion of the transaction, the vice president directly owned 1,576 shares of the company’s stock, valued at $571,757.04. The trade was a 26.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 19,191 shares of company stock valued at $6,905,127 over the last quarter. Insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Evercore set a $330.00 price objective on shares of Marathon Petroleum in a research report on Wednesday, August 5th. Jefferies Financial Group reissued a “hold” rating and issued a $433.00 price objective on shares of Marathon Petroleum in a research note on Sunday, October 11th. Bank of America raised their target price on shares of Marathon Petroleum from $410.00 to $426.00 and gave the company a “neutral” rating in a report on Friday, October 2nd. Raymond James Financial lifted their target price on shares of Marathon Petroleum from $350.00 to $445.00 and gave the stock an “outperform” rating in a research report on Monday, September 14th. Finally, Morgan Stanley upped their price target on shares of Marathon Petroleum from $453.00 to $458.00 and gave the company an “overweight” rating in a report on Wednesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Marathon Petroleum currently has an average rating of “Moderate Buy” and an average price target of $425.12.

Marathon Petroleum Price Performance

Shares of NYSE:MPC opened at $402.73 on Thursday. The business’s fifty day moving average price is $422.83 and its two-hundred day moving average price is $298.62. The stock has a market cap of $109.65 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 0.10 and a beta of 0.53. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.09 and a current ratio of 1.45. Marathon Petroleum Corporation has a one year low of $161.93 and a one year high of $493.98.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, November 3rd. The oil and gas company reported $26.93 earnings per share for the quarter, topping the consensus estimate of $25.37 by $1.56. Marathon Petroleum had a return on equity of 55.82% and a net margin of 8.27%. The company had revenue of $56.03 billion during the quarter, compared to the consensus estimate of $46.60 billion. During the same quarter last year, the business posted $3.01 earnings per share. Marathon Petroleum’s revenue was up 57.6% compared to the same quarter last year. On average, analysts forecast that Marathon Petroleum Corporation will post 66.31 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 18th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, November 18th. Marathon Petroleum’s dividend payout ratio is currently 13.75%.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation is an integrated downstream energy company focused on refining, marketing, and transporting petroleum products. Its refineries produce fuels and other products, including gasoline, diesel, jet fuel, asphalt, and petrochemical feedstocks. The company sells transportation fuels and related products through a network of branded locations and other wholesale and commercial channels, primarily in the United States. Its midstream operations, conducted largely through its affiliated partnership MPLX, include gathering, processing, and transporting natural gas and natural gas liquids, as well as storing and transporting crude oil and refined products.