HL Financial Services LLC raised its position in shares of Marathon Petroleum Corp. (NYSE:MPC) by 1.7% during the second quarter, Holdings Channel reports. The institutional investor owned 16,907 shares of the company’s stock after buying an additional 285 shares during the period. HL Financial Services LLC’s holdings in Marathon Petroleum Corp. were worth $642,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Orca Investment Management LLC purchased a new position in Marathon Petroleum Corp. during the second quarter worth about $1,283,000. Grimes & Company Inc. increased its position in Marathon Petroleum Corp. by 14.3% in the second quarter. Grimes & Company Inc. now owns 104,476 shares of the company’s stock worth $3,966,000 after buying an additional 13,071 shares during the period. Pitcairn Co. increased its position in Marathon Petroleum Corp. by 3.2% in the second quarter. Pitcairn Co. now owns 41,340 shares of the company’s stock worth $1,570,000 after buying an additional 1,287 shares during the period. Douglas Lane & Associates LLC increased its position in Marathon Petroleum Corp. by 15.3% in the second quarter. Douglas Lane & Associates LLC now owns 707,623 shares of the company’s stock worth $26,861,000 after buying an additional 93,665 shares during the period. Finally, Rehmann Capital Advisory Group increased its position in Marathon Petroleum Corp. by 1.4% in the second quarter. Rehmann Capital Advisory Group now owns 7,288 shares of the company’s stock worth $277,000 after buying an additional 98 shares during the period. Institutional investors own 79.85% of the company’s stock.
Shares of Marathon Petroleum Corp. (NYSE:MPC) traded up 1.89% on Wednesday, reaching $42.64. The company’s stock had a trading volume of 5,304,387 shares. Marathon Petroleum Corp. has a 12-month low of $29.24 and a 12-month high of $59.99. The firm has a 50 day moving average price of $42.35 and a 200-day moving average price of $38.52. The stock has a market cap of $22.55 billion, a PE ratio of 11.77 and a beta of 2.20.
Marathon Petroleum Corp. (NYSE:MPC) last issued its earnings results on Thursday, July 28th. The company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.10. Marathon Petroleum Corp. had a return on equity of 10.94% and a net margin of 3.02%. The firm had revenue of $16.81 billion for the quarter, compared to the consensus estimate of $16.30 billion. During the same quarter in the prior year, the business earned $1.51 earnings per share. The company’s revenue was down 18.4% compared to the same quarter last year. Equities research analysts expect that Marathon Petroleum Corp. will post $2.40 EPS for the current year.
The business also recently announced 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 an increase 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 presently 39.78%.
A number of equities analysts have issued reports on MPC shares. Vetr downgraded Marathon Petroleum Corp. from a “strong-buy” rating to a “buy” rating and set a $42.00 price objective for the company. in a report on Tuesday, July 19th. Credit Suisse Group AG reiterated a “buy” rating and issued a $45.00 price objective on shares of Marathon Petroleum Corp. in a report on Thursday, July 14th. Wells Fargo & Co. reiterated a “buy” rating on shares of Marathon Petroleum Corp. in a report on Saturday, July 9th. TheStreet upgraded Marathon Petroleum Corp. from a “hold” rating to a “buy” rating in a report on Monday, August 8th. Finally, Jefferies Group started coverage on Marathon Petroleum Corp. in a report on Tuesday, August 23rd. They issued a “buy” rating and a $48.00 price objective for the company. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target 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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