Bank of New York Mellon Corp Decreases Position in Marathon Petroleum Corporation $MPC

Bank of New York Mellon Corp reduced its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 10.4% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 3,953,318 shares of the oil and gas company’s stock after selling 457,896 shares during the period. Bank of New York Mellon Corp’s holdings in Marathon Petroleum were worth $965,321,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Diversified Trust Co. grew its stake in Marathon Petroleum by 39.3% during the 4th quarter. Diversified Trust Co. now owns 15,675 shares of the oil and gas company’s stock valued at $2,549,000 after purchasing an additional 4,419 shares in the last quarter. USA Financial Formulas acquired a new position in shares of Marathon Petroleum in the 4th quarter valued at approximately $791,000. North Dakota State Investment Board purchased a new position in shares of Marathon Petroleum during the 4th quarter valued at approximately $1,714,000. KBC Group NV grew its position in shares of Marathon Petroleum by 22.4% during the fourth quarter. KBC Group NV now owns 225,837 shares of the oil and gas company’s stock worth $36,728,000 after buying an additional 41,259 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its position in shares of Marathon Petroleum by 31.0% during the first quarter. Pictet Asset Management Holding SA now owns 213,545 shares of the oil and gas company’s stock worth $52,146,000 after buying an additional 50,521 shares in the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Stock Down 1.3%

Shares of NYSE:MPC opened at $299.39 on Thursday. The company’s fifty day moving average is $259.70 and its two-hundred day moving average is $225.73. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.73 and a current ratio of 1.18. Marathon Petroleum Corporation has a 1-year low of $158.00 and a 1-year high of $304.36. The stock has a market capitalization of $87.40 billion, a price-to-earnings ratio of 19.54, a price-to-earnings-growth ratio of 0.42 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, beating the consensus estimate of $0.74 by $0.91. The business had revenue of $34.20 billion during the quarter, compared to analyst estimates of $33.42 billion. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.24) EPS. Equities analysts anticipate that Marathon Petroleum Corporation will post 34.58 EPS for the current year.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Wednesday, May 20th. Marathon Petroleum’s payout ratio is presently 26.11%.

Insider Activity at Marathon Petroleum

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. Company insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Citigroup upped their price target on shares of Marathon Petroleum from $257.00 to $303.00 and gave the company a “neutral” rating in a report on Tuesday. Wall Street Zen raised shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 10th. Bank of America upped their target price on shares of Marathon Petroleum from $224.00 to $260.00 in a research note on Tuesday, May 26th. UBS Group reaffirmed a “buy” rating and set a $321.00 price target on shares of Marathon Petroleum in a research report on Friday, July 10th. Finally, Morgan Stanley boosted their price objective on Marathon Petroleum from $233.00 to $265.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Ten research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, Marathon Petroleum has a consensus rating of “Moderate Buy” and a consensus target price of $283.56.

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.