First Midwest Bank Trust Division increased its position in shares of Marathon Petroleum Corp. (NYSE:MPC) by 136.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,834 shares of the company’s stock after buying an additional 34,509 shares during the period. First Midwest Bank Trust Division’s holdings in Marathon Petroleum Corp. were worth $2,272,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of MPC. Acrospire Investment Management LLC bought a new stake in shares of Marathon Petroleum Corp. during the first quarter worth $108,000. Invictus RG raised its stake in shares of Marathon Petroleum Corp. by 35.7% in the first quarter. Invictus RG now owns 3,176 shares of the company’s stock worth $118,000 after buying an additional 835 shares in the last quarter. Gierl Augustine Investment Management Inc raised its stake in shares of Marathon Petroleum Corp. by 35.2% in the second quarter. Gierl Augustine Investment Management Inc now owns 3,124 shares of the company’s stock worth $119,000 after buying an additional 814 shares in the last quarter. Mercer Capital Advisers Inc. raised its stake in shares of Marathon Petroleum Corp. by 433.5% in the second quarter. Mercer Capital Advisers Inc. now owns 3,692 shares of the company’s stock worth $140,000 after buying an additional 3,000 shares in the last quarter. Finally, Investors Asset Management of Georgia Inc. GA ADV bought a new stake in shares of Marathon Petroleum Corp. during the second quarter worth $200,000. Hedge funds and other institutional investors own 79.85% of the company’s stock.
Marathon Petroleum Corp. (NYSE:MPC) traded up 1.89% during midday trading on Wednesday, reaching $42.64. 5,304,387 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $42.31 and a 200 day moving average price of $38.49. Marathon Petroleum Corp. has a 12-month low of $29.24 and a 12-month high of $59.99. The company has a market cap of $22.55 billion, a price-to-earnings ratio of 11.77 and a beta of 2.20.
Marathon Petroleum Corp. (NYSE:MPC) last announced its quarterly earnings data on Thursday, July 28th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.10. Marathon Petroleum Corp. had a net margin of 3.02% and a return on equity of 10.94%. The company earned $16.81 billion during the quarter, compared to analysts’ expectations of $16.30 billion. During the same quarter in the prior year, the company earned $1.51 EPS. The firm’s revenue was down 18.4% on a year-over-year basis. On average, analysts expect that Marathon Petroleum Corp. will post $2.40 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Wednesday, August 17th were paid a $0.36 dividend. This is a boost from Marathon Petroleum Corp.’s previous quarterly dividend of $0.32. The ex-dividend date was Monday, August 15th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.38%. Marathon Petroleum Corp.’s dividend payout ratio is 39.78%.
MPC has been the topic of a number of research analyst reports. Vetr lowered shares of Marathon Petroleum Corp. from a “strong-buy” rating to a “buy” rating and set a $42.00 target price on the stock. in a research report on Tuesday, July 19th. Credit Suisse Group AG restated a “buy” rating and issued a $45.00 target price on shares of Marathon Petroleum Corp. in a research report on Thursday, July 14th. Wells Fargo & Co. restated a “buy” rating on shares of Marathon Petroleum Corp. in a research report on Saturday, July 9th. TheStreet upgraded shares of Marathon Petroleum Corp. from a “hold” rating to a “buy” rating in a research report on Monday, August 8th. Finally, Jefferies Group began coverage on shares of Marathon Petroleum Corp. in a research note on Tuesday, August 23rd. They set a “buy” rating and a $48.00 price target for the company. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the stock. Marathon Petroleum Corp. has a consensus rating of “Buy” and a consensus target price of $53.05.
About Marathon Petroleum Corp.
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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