BI Asset Management Fondsmaeglerselskab A S Sells 6,183 Shares of Marathon Petroleum Corporation $MPC

BI Asset Management Fondsmaeglerselskab A S lessened its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 36.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,871 shares of the oil and gas company’s stock after selling 6,183 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Marathon Petroleum were worth $2,654,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in MPC. Norges Bank bought a new stake in Marathon Petroleum during the 4th quarter worth about $472,312,000. Capital Wealth Planning LLC boosted its stake in shares of Marathon Petroleum by 49,392.0% in the 4th quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company’s stock valued at $245,157,000 after purchasing an additional 1,495,097 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Marathon Petroleum by 3,816.8% during the 4th quarter. Pacer Advisors Inc. now owns 1,306,749 shares of the oil and gas company’s stock worth $212,517,000 after buying an additional 1,273,386 shares during the period. Man Group plc grew its position in shares of Marathon Petroleum by 2,175.0% during the 4th quarter. Man Group plc now owns 568,790 shares of the oil and gas company’s stock worth $92,502,000 after buying an additional 543,788 shares during the period. Finally, Victory Capital Management Inc. raised its stake in shares of Marathon Petroleum by 104.8% during the fourth quarter. Victory Capital Management Inc. now owns 1,055,897 shares of the oil and gas company’s stock worth $171,721,000 after buying an additional 540,283 shares during the last quarter. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Trading Up 0.7%

Shares of NYSE MPC opened at $249.13 on Wednesday. The company’s fifty day moving average is $246.18 and its 200-day moving average is $215.26. The stock has a market cap of $72.73 billion, a price-to-earnings ratio of 16.26, a P/E/G ratio of 0.38 and a beta of 0.52. Marathon Petroleum Corporation has a twelve month low of $158.00 and a twelve month high of $272.46. 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 (NYSE:MPC) last released its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 EPS 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 analysts’ expectations of $33.42 billion. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.24) EPS. Equities research analysts predict that Marathon Petroleum Corporation will post 31.35 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 $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Wednesday, May 20th. Marathon Petroleum’s payout ratio is presently 26.11%.

Insider Activity

In other news, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction dated 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 sale, the vice president owned 16,900 shares of the company’s stock, valued at $4,543,058. This trade represents a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.17% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MPC. UBS Group set a $285.00 price objective on shares of Marathon Petroleum in a report on Wednesday, May 6th. Barclays lifted their target price on shares of Marathon Petroleum from $230.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. upped their target price on shares of Marathon Petroleum from $235.00 to $257.00 in a research report on Wednesday, May 6th. TD Cowen increased their price target on Marathon Petroleum to $320.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $344.00 price target on shares of Marathon Petroleum in a research report on Monday, June 15th. Ten analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $272.94.

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.