Fifth Third Bancorp Sells 5,591 Shares of Marathon Petroleum Corporation $MPC

Fifth Third Bancorp trimmed its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 0.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 589,565 shares of the oil and gas company’s stock after selling 5,591 shares during the quarter. Fifth Third Bancorp owned approximately 0.22% of Marathon Petroleum worth $233,126,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. King Luther Capital Management Corp acquired a new stake in shares of Marathon Petroleum during the third quarter worth about $213,000. Pavion Blue Capital LLC purchased a new position in shares of Marathon Petroleum during the third quarter worth about $238,000. Ritholtz Wealth Management grew its holdings in shares of Marathon Petroleum by 37.9% during the third quarter. Ritholtz Wealth Management now owns 29,747 shares of the oil and gas company’s stock worth $11,763,000 after buying an additional 8,170 shares during the last quarter. UNIVEST FINANCIAL Corp increased its position in Marathon Petroleum by 6.3% in the 3rd quarter. UNIVEST FINANCIAL Corp now owns 905 shares of the oil and gas company’s stock valued at $358,000 after acquiring an additional 54 shares during the period. Finally, Joel Isaacson & Co. LLC increased its position in Marathon Petroleum by 8.3% in the 3rd quarter. Joel Isaacson & Co. LLC now owns 2,267 shares of the oil and gas company’s stock valued at $897,000 after acquiring an additional 173 shares during the period. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Trading Up 3.4%

NYSE MPC opened at $402.73 on Thursday. The company has a quick ratio of 1.09, a current ratio of 1.45 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $109.65 billion, a P/E ratio of 13.84, a P/E/G ratio of 0.10 and a beta of 0.53. Marathon Petroleum Corporation has a 52-week low of $161.93 and a 52-week high of $493.98. The firm has a 50-day moving average price of $422.83 and a 200 day moving average price of $298.62.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, November 3rd. The oil and gas company reported $26.93 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $46.60 billion. During the same quarter in the previous year, the company earned $3.01 EPS. The firm’s revenue for the quarter was up 57.6% compared to the same quarter last year. Equities research analysts expect that Marathon Petroleum Corporation will post 66.31 EPS for the current year.

Marathon Petroleum Dividend Announcement

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

Insider Activity at Marathon Petroleum

In related news, VP Erin M. Brzezinski sold 570 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $362.79, for a total transaction of $206,790.30. Following the transaction, the vice president owned 1,576 shares of the company’s stock, valued at $571,757.04. This represents a 26.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Shawn Lyon sold 1,000 shares of the stock in a transaction on Monday, August 31st. The stock was 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 $4,206,145.50. The trade was a 8.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 19,191 shares of company stock worth $6,905,127 over the last three months. 0.17% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on MPC shares. TD Cowen upped their price objective on Marathon Petroleum from $450.00 to $478.00 and gave the company a “buy” rating in a research note on Thursday, October 22nd. Evercore set a $330.00 target price on Marathon Petroleum in a research note on Wednesday, August 5th. Morgan Stanley boosted their target price on Marathon Petroleum from $453.00 to $458.00 and gave the company an “overweight” rating in a report on Wednesday, November 4th. Wells Fargo & Company upped their price target on Marathon Petroleum from $560.00 to $564.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 4th. Finally, Bank of America increased their price target on Marathon Petroleum from $410.00 to $426.00 and gave the stock a “neutral” rating in a report on Friday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $425.12.

Marathon Petroleum 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.