Erste Asset Management GmbH Has $851,000 Stake in Marathon Petroleum Corporation $MPC

Erste Asset Management GmbH trimmed its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 35.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,200 shares of the oil and gas company’s stock after selling 2,800 shares during the period. Erste Asset Management GmbH’s holdings in Marathon Petroleum were worth $851,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank acquired a new position in Marathon Petroleum during the fourth quarter valued at approximately $472,312,000. Assenagon Asset Management S.A. grew its holdings in Marathon Petroleum by 332.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 320,499 shares of the oil and gas company’s stock worth $52,123,000 after acquiring an additional 246,384 shares during the last quarter. Merewether Investment Management LP bought a new stake in shares of Marathon Petroleum in the second quarter worth $35,548,000. Amundi grew its stake in shares of Marathon Petroleum by 11.8% in the third quarter. Amundi now owns 1,626,862 shares of the oil and gas company’s stock worth $314,830,000 after purchasing an additional 172,172 shares during the last quarter. Finally, Boston Partners grew its stake in shares of Marathon Petroleum by 2.3% in the third quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company’s stock worth $1,214,522,000 after purchasing an additional 141,691 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Price Performance

Shares of NYSE MPC opened at $263.51 on Thursday. The company has a current ratio of 1.18, a quick ratio of 0.73 and a debt-to-equity ratio of 1.31. Marathon Petroleum Corporation has a 1-year low of $158.00 and a 1-year high of $272.46. The firm has a market capitalization of $76.93 billion, a P/E ratio of 17.20, a P/E/G ratio of 0.41 and a beta of 0.52. The firm’s 50-day moving average price is $243.74 and its 200-day moving average price is $211.55.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share 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 company had revenue of $34.20 billion for the quarter, compared to analyst estimates of $33.42 billion. During the same quarter in the prior year, the business posted ($0.24) EPS. The firm’s revenue was up 8.5% compared to the same quarter last year. Equities research analysts anticipate that Marathon Petroleum Corporation will post 30.05 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Marathon Petroleum from $235.00 to $257.00 in a research note on Wednesday, May 6th. Piper Sandler boosted their price objective 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. BMO Capital Markets upped their price target on shares of Marathon Petroleum from $255.00 to $290.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Weiss Ratings cut shares of Marathon Petroleum from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Finally, Citigroup upped their price target on shares of Marathon Petroleum from $243.00 to $257.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $270.38.

Insider Activity

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $268.82, for a total value of $1,703,243.52. Following the completion of the sale, the vice president owned 16,900 shares in the company, valued at approximately $4,543,058. This trade represents a 27.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ricky D. Hessling sold 1,626 shares of the stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $228.18, for a total transaction of $371,020.68. Following the completion of the sale, the insider owned 7,525 shares of the company’s stock, valued at approximately $1,717,054.50. This trade represents a 17.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.17% of the company’s stock.

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 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.