Vanguard Group Inc. raised its stake in Marathon Petroleum Corporation (NYSE:MPC) by 4.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 39,255,717 shares of the oil and gas company’s stock after buying an additional 1,544,114 shares during the quarter. Vanguard Group Inc. owned 7.75% of Marathon Petroleum Corporation worth $2,054,251,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. CGOV Asset Management raised its position in shares of Marathon Petroleum Corporation by 30.0% during the first quarter. CGOV Asset Management now owns 13,000 shares of the oil and gas company’s stock worth $875,000 after purchasing an additional 3,000 shares during the period. Carnick & Kubik Group LLC raised its position in shares of Marathon Petroleum Corporation by 8.2% during the first quarter. Carnick & Kubik Group LLC now owns 22,400 shares of the oil and gas company’s stock worth $1,132,000 after purchasing an additional 1,693 shares during the period. Swiss National Bank raised its position in shares of Marathon Petroleum Corporation by 27.0% during the first quarter. Swiss National Bank now owns 1,870,196 shares of the oil and gas company’s stock worth $94,520,000 after purchasing an additional 397,500 shares during the period. World Asset Management Inc raised its position in shares of Marathon Petroleum Corporation by 8.8% during the first quarter. World Asset Management Inc now owns 62,899 shares of the oil and gas company’s stock worth $3,179,000 after purchasing an additional 5,095 shares during the period. Finally, Morse Asset Management Inc acquired a new stake in shares of Marathon Petroleum Corporation during the first quarter worth about $917,000. 78.25% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Marathon Petroleum Corporation (NYSE:MPC) traded up 0.83% on Friday, hitting $54.82. The stock had a trading volume of 328,514 shares. The company has a 50-day moving average of $52.72 and a 200 day moving average of $52.13. Marathon Petroleum Corporation has a 52 week low of $39.29 and a 52 week high of $56.81. The company has a market capitalization of $27.75 billion, a price-to-earnings ratio of 32.69 and a beta of 1.56.
Marathon Petroleum Corporation (NYSE:MPC) last released its earnings results on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.01). The business had revenue of $18.35 billion during the quarter, compared to the consensus estimate of $19.98 billion. Marathon Petroleum Corporation had a net margin of 1.34% and a return on equity of 5.52%. The business’s revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.07 earnings per share. On average, equities research analysts predict that Marathon Petroleum Corporation will post $2.95 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Wednesday, August 16th were issued a $0.40 dividend. The ex-dividend date was Monday, August 14th. This is a positive change from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a dividend yield of 2.94%. Marathon Petroleum Corporation’s dividend payout ratio is currently 90.91%.
A number of equities research analysts have recently commented on MPC shares. BidaskClub lowered Marathon Petroleum Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th. Scotiabank reaffirmed a “hold” rating and set a $55.00 price target on shares of Marathon Petroleum Corporation in a research report on Friday, September 1st. Cowen and Company raised their price target on Marathon Petroleum Corporation from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Zacks Investment Research lowered Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Finally, Bank of America Corporation lowered Marathon Petroleum Corporation from a “buy” rating to a “neutral” rating in a research report on Tuesday, September 5th. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $59.67.
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In other news, VP C. Michael Palmer sold 11,450 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $53.02, for a total value of $607,079.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.05% of the company’s stock.
Marathon Petroleum Corporation Company Profile
Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.
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