Royal London Asset Management Ltd. Has $43.37 Million Stock Position in Marathon Petroleum Corporation $MPC

Royal London Asset Management Ltd. reduced its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 1.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 169,614 shares of the oil and gas company’s stock after selling 2,960 shares during the period. Royal London Asset Management Ltd.’s holdings in Marathon Petroleum were worth $43,365,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Marathon Petroleum during the second quarter worth about $6,648,958,000. Bank of New York Mellon Corp bought a new position in shares of Marathon Petroleum in the second quarter valued at approximately $1,029,611,000. Norges Bank bought a new position in shares of Marathon Petroleum in the fourth quarter valued at approximately $472,312,000. Bank of America Corp DE acquired a new position in shares of Marathon Petroleum in the 2nd quarter worth approximately $621,832,000. Finally, Capital Wealth Planning LLC boosted its holdings 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 worth $245,157,000 after acquiring an additional 1,495,097 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Stock Performance

MPC stock opened at $369.00 on Friday. The stock has a market capitalization of $107.73 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 0.24 and a beta of 0.52. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89. The company has a 50 day moving average price of $308.87 and a 200 day moving average price of $260.20. Marathon Petroleum Corporation has a fifty-two week low of $161.93 and a fifty-two week high of $369.12.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, beating the consensus estimate of $14.27 by $3.46. The company had revenue of $51.99 billion during the quarter, compared to analysts’ expectations of $40.87 billion. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The business’s revenue for the quarter was up 53.5% on a year-over-year basis. During the same period last year, the firm earned $3.96 EPS. Analysts forecast that Marathon Petroleum Corporation will post 46.66 EPS for the current year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 13.75%.

Insiders Place Their Bets

In other Marathon Petroleum news, insider Molly R. Benson sold 17,196 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $358.57, for a total transaction of $6,165,969.72. Following the completion of the sale, the insider directly owned 30,334 shares of the company’s stock, valued at approximately $10,876,862.38. The trade was a 36.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Shawn M. Lyon sold 2,500 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $350.00, for a total transaction of $875,000.00. Following the transaction, the senior vice president owned 12,619 shares in the company, valued at approximately $4,416,650. The trade was a 16.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 26,032 shares of company stock valued at $8,744,213. 0.17% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MPC. Jefferies Financial Group set a $335.00 price target on Marathon Petroleum and gave the company a “buy” rating in a report on Sunday, July 12th. Mizuho boosted their price objective on Marathon Petroleum from $284.00 to $304.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Raymond James Financial increased their target price on Marathon Petroleum from $300.00 to $335.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Bank of America lifted their price target on Marathon Petroleum from $224.00 to $260.00 in a report on Tuesday, May 26th. Finally, Wall Street Zen upgraded shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 10th. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $312.50.

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.