Retirement Systems of Alabama boosted its stake in shares of Marathon Petroleum Corp. (NYSE:MPC) by 0.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 270,116 shares of the company’s stock after buying an additional 1,581 shares during the period. Retirement Systems of Alabama’s holdings in Marathon Petroleum Corp. were worth $10,254,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of MPC. Acrospire Investment Management LLC bought a new stake in Marathon Petroleum Corp. during the first quarter worth about $108,000. Invictus RG increased its position in 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 increased its position in 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. increased its position in 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 acquired a new position in Marathon Petroleum Corp. during the second quarter worth $200,000. Institutional investors and hedge funds own 79.85% of the company’s stock.
Marathon Petroleum Corp. (NYSE:MPC) traded up 0.21% during trading on Thursday, hitting $42.36. 5,607,361 shares of the stock were exchanged. The stock has a market capitalization of $22.40 billion, a price-to-earnings ratio of 11.69 and a beta of 2.06. The firm has a 50-day moving average of $42.27 and a 200-day moving average of $38.67. Marathon Petroleum Corp. has a 52 week low of $29.24 and a 52 week high of $59.99.
Marathon Petroleum Corp. (NYSE:MPC) last announced its quarterly earnings data on Thursday, July 28th. The company reported $1.07 EPS for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.10. The business had revenue of $16.81 billion for the quarter, compared to analyst estimates of $16.30 billion. Marathon Petroleum Corp. had a net margin of 3.02% and a return on equity of 10.94%. The firm’s revenue for the quarter was down 18.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.51 earnings per share. Equities research analysts anticipate that Marathon Petroleum Corp. will post $2.41 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Wednesday, August 17th were given a dividend of $0.36 per share. This is a positive change from Marathon Petroleum Corp.’s previous quarterly dividend of $0.32. This represents a $1.44 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend was Monday, August 15th. Marathon Petroleum Corp.’s dividend payout ratio is 39.78%.
A number of research analysts have recently weighed in on the stock. Piper Jaffray Cos. raised their price target on shares of Marathon Petroleum Corp. from $41.00 to $46.00 and gave the company a “neutral” rating in a report 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 price target on the stock in a report on Monday, September 12th. Credit Suisse Group AG restated an “outperform” rating on shares of Marathon Petroleum Corp. in a report on Sunday, September 4th. Bank of America Corp. restated a “buy” rating on shares of Marathon Petroleum Corp. in a report on Monday, September 26th. Finally, Zacks Investment Research upgraded shares of Marathon Petroleum Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, August 16th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus 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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