Calamos Advisors LLC raised its position in Marathon Petroleum Corp. (NYSE:MPC) by 0.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 110,459 shares of the company’s stock after buying an additional 41 shares during the period. Calamos Advisors LLC’s holdings in Marathon Petroleum Corp. were worth $4,193,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the company. Magnetar Financial LLC acquired a new stake in shares of Marathon Petroleum Corp. during the first quarter worth about $63,206,000. State Street Corp raised its stake in shares of Marathon Petroleum Corp. by 4.3% in the first quarter. State Street Corp now owns 26,571,583 shares of the company’s stock worth $987,917,000 after buying an additional 1,091,661 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Marathon Petroleum Corp. by 702.4% in the first quarter. Canada Pension Plan Investment Board now owns 964,042 shares of the company’s stock worth $35,843,000 after buying an additional 843,900 shares during the last quarter. BlackRock Fund Advisors raised its stake in shares of Marathon Petroleum Corp. by 9.7% in the first quarter. BlackRock Fund Advisors now owns 7,983,567 shares of the company’s stock worth $296,829,000 after buying an additional 704,302 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. acquired a new stake in shares of Marathon Petroleum Corp. during the first quarter worth about $21,497,000. Institutional investors and hedge funds own 79.85% of the company’s stock.
Shares of Marathon Petroleum Corp. (NYSE:MPC) traded up 2.14% during mid-day trading on Friday, reaching $40.59. 7,756,305 shares of the company traded hands. Marathon Petroleum Corp. has a 52 week low of $29.24 and a 52 week high of $59.99. The company has a market capitalization of $21.46 billion, a P/E ratio of 11.20 and a beta of 2.20. The stock’s 50-day moving average is $42.28 and its 200-day moving average is $38.55.
Marathon Petroleum Corp. (NYSE:MPC) last issued its quarterly earnings results on Thursday, July 28th. The company reported $1.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.10. The firm earned $16.81 billion during the quarter, compared to analysts’ expectations of $16.30 billion. Marathon Petroleum Corp. had a net margin of 3.02% and a return on equity of 10.94%. Marathon Petroleum Corp.’s quarterly revenue was down 18.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.51 EPS. On average, equities analysts predict that Marathon Petroleum Corp. will post $2.40 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Wednesday, August 17th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Monday, August 15th. This represents a $1.44 dividend on an annualized basis and a yield of 3.55%. This is a boost from Marathon Petroleum Corp.’s previous quarterly dividend of $0.32. Marathon Petroleum Corp.’s dividend payout ratio is currently 39.78%.
A number of brokerages recently commented on MPC. Bank of America Corp. reissued a “buy” rating on shares of Marathon Petroleum Corp. in a report on Monday, September 26th. Piper Jaffray Cos. raised their target price on shares of Marathon Petroleum Corp. from $41.00 to $46.00 and gave the company a “neutral” rating in a research note on Friday, September 16th. Vetr upgraded shares of Marathon Petroleum Corp. from a “buy” rating to a “strong-buy” rating and set a $51.50 target price for the company in a research note on Monday, September 12th. Credit Suisse Group AG restated an “outperform” rating on shares of Marathon Petroleum Corp. in a research note on Sunday, September 4th. Finally, Jefferies Group initiated coverage on shares of Marathon Petroleum Corp. in a research note on Tuesday, August 23rd. They issued a “buy” rating and a $48.00 target price for the company. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $53.05.
Marathon Petroleum Corp. Company Profile
Marathon Petroleum Corporation is engaged in petroleum product refining, marketing, retail and transportation businesses in the United States and the east of the Mississippi. The Company’s segments include Refining & Marketing, Speedway, and Midstream. Its Refining & Marketing segment refines crude oil and other feedstocks at its approximately seven refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products.
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