MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Has $5.05 Million Stock Position in Marathon Petroleum Co. (NYSE:MPC)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH cut its stake in Marathon Petroleum Co. (NYSE:MPC) by 16.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,121 shares of the oil and gas company’s stock after selling 5,645 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Marathon Petroleum were worth $5,052,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of MPC. Dimensional Fund Advisors LP lifted its holdings in Marathon Petroleum by 2.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,153,636 shares of the oil and gas company’s stock valued at $764,526,000 after purchasing an additional 137,341 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of Marathon Petroleum by 2.6% in the 2nd quarter. Raymond James & Associates now owns 4,286,892 shares of the oil and gas company’s stock worth $743,690,000 after acquiring an additional 107,915 shares in the last quarter. Norges Bank bought a new stake in Marathon Petroleum during the 4th quarter worth approximately $500,685,000. Price T Rowe Associates Inc. MD increased its holdings in Marathon Petroleum by 1.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,080,958 shares of the oil and gas company’s stock valued at $620,815,000 after purchasing an additional 31,100 shares in the last quarter. Finally, Boston Partners raised its position in Marathon Petroleum by 0.3% in the 1st quarter. Boston Partners now owns 2,773,050 shares of the oil and gas company’s stock valued at $558,390,000 after purchasing an additional 8,476 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Trading Up 3.6 %

NYSE MPC traded up $6.15 on Friday, reaching $177.12. The company had a trading volume of 3,460,905 shares, compared to its average volume of 2,308,623. The company has a quick ratio of 0.90, a current ratio of 1.31 and a debt-to-equity ratio of 0.86. Marathon Petroleum Co. has a 52 week low of $139.32 and a 52 week high of $221.11. The stock has a market cap of $59.28 billion, a price-to-earnings ratio of 8.85, a PEG ratio of 2.33 and a beta of 1.40. The stock’s 50 day moving average is $171.47 and its 200-day moving average is $180.24.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $1.03. The company had revenue of $38.36 billion during the quarter, compared to analysts’ expectations of $36.66 billion. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. Marathon Petroleum’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the business posted $5.32 EPS. Equities analysts predict that Marathon Petroleum Co. will post 12.68 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be given a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio is currently 16.48%.

Analysts Set New Price Targets

Several analysts have recently commented on MPC shares. Tudor Pickering upgraded Marathon Petroleum to a “strong-buy” rating in a report on Thursday, May 30th. Jefferies Financial Group raised their price objective on shares of Marathon Petroleum from $222.00 to $231.00 and gave the company a “buy” rating in a research report on Monday, July 15th. StockNews.com cut shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Wells Fargo & Company dropped their price objective on shares of Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Finally, Piper Sandler decreased their price objective on Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating on the stock in a research report on Friday, June 14th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and a consensus price target of $198.38.

About Marathon Petroleum

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.