Markston International LLC increased its position in Marathon Petroleum Corp. (NYSE:MPC) by 25.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 346,681 shares of the company’s stock after buying an additional 71,088 shares during the period. Marathon Petroleum Corp. makes up about 1.2% of Markston International LLC’s investment portfolio, making the stock its 23rd largest position. Markston International LLC’s holdings in Marathon Petroleum Corp. were worth $13,160,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in MPC. Sii Investments Inc. WI boosted its stake in Marathon Petroleum Corp. by 48.9% in the first quarter. Sii Investments Inc. WI now owns 8,694 shares of the company’s stock valued at $324,000 after buying an additional 2,855 shares in the last quarter. IFP Advisors Inc boosted its stake in Marathon Petroleum Corp. by 18.5% in the first quarter. IFP Advisors Inc now owns 12,993 shares of the company’s stock valued at $483,000 after buying an additional 2,027 shares in the last quarter. Bowling Portfolio Management LLC boosted its stake in Marathon Petroleum Corp. by 68.3% in the first quarter. Bowling Portfolio Management LLC now owns 73,998 shares of the company’s stock valued at $2,751,000 after buying an additional 30,041 shares in the last quarter. CIBC World Markets Inc. boosted its stake in Marathon Petroleum Corp. by 68.6% in the first quarter. CIBC World Markets Inc. now owns 65,634 shares of the company’s stock valued at $2,440,000 after buying an additional 26,696 shares in the last quarter. Finally, Parametrica Management Ltd acquired a new stake in Marathon Petroleum Corp. during the first quarter valued at $206,000. 79.85% of the stock is owned by hedge funds and other institutional investors.
Marathon Petroleum Corp. (NYSE:MPC) traded up 1.89% during trading on Wednesday, reaching $42.64. The company 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’s 50 day moving average price is $42.31 and its 200 day moving average price is $38.49. The firm has a market capitalization of $22.55 billion, a PE ratio of 11.77 and a beta of 2.20.
Marathon Petroleum Corp. (NYSE:MPC) last released its quarterly earnings results on Thursday, July 28th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.10. The business earned $16.81 billion during the quarter, compared to the consensus estimate of $16.30 billion. Marathon Petroleum Corp. had a return on equity of 10.94% and a net margin of 3.02%. The firm’s quarterly revenue was down 18.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.51 EPS. Analysts anticipate that Marathon Petroleum Corp. will post $2.40 earnings per share 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 given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.38%. This is an increase from Marathon Petroleum Corp.’s previous quarterly dividend of $0.32. The ex-dividend date was Monday, August 15th. Marathon Petroleum Corp.’s dividend payout ratio is presently 39.78%.
Several equities research analysts have recently weighed in on the company. Wells Fargo & Co. reissued a “buy” rating on shares of Marathon Petroleum Corp. in a research report on Saturday, July 9th. JPMorgan Chase & Co. reissued a “hold” rating on shares of Marathon Petroleum Corp. in a research report on Sunday, June 12th. Vetr cut Marathon Petroleum Corp. from a “strong-buy” rating to a “buy” rating and set a $42.00 price objective for the company. in a research report on Tuesday, July 12th. Credit Suisse Group AG reissued a “buy” rating and issued a $45.00 price objective on shares of Marathon Petroleum Corp. in a research report on Thursday, July 14th. Finally, Zacks Investment Research cut Marathon Petroleum Corp. from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 13th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the company. The company presently has a consensus 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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