ING Groep NV bought a new stake in Marathon Petroleum Corporation (NYSE:MPC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 17,251 shares of the oil and gas company’s stock, valued at approximately $967,000.
Other hedge funds have also recently modified their holdings of the company. Blue Chip Partners Inc. purchased a new position in shares of Marathon Petroleum during the 2nd quarter worth approximately $100,000. Lee Financial Co boosted its holdings in shares of Marathon Petroleum by 2.4% in the 2nd quarter. Lee Financial Co now owns 2,048 shares of the oil and gas company’s stock valued at $107,000 after purchasing an additional 48 shares during the last quarter. First Interstate Bank boosted its holdings in shares of Marathon Petroleum by 81.1% in the 2nd quarter. First Interstate Bank now owns 2,376 shares of the oil and gas company’s stock valued at $124,000 after purchasing an additional 1,064 shares during the last quarter. Crow Point Partners LLC acquired a new position in shares of Marathon Petroleum in the 3rd quarter valued at $128,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of Marathon Petroleum in the 3rd quarter valued at $135,000. 80.83% of the stock is currently owned by institutional investors.
Several research firms recently weighed in on MPC. Bank of America lowered shares of Marathon Petroleum from a “buy” rating to a “neutral” rating in a report on Tuesday, September 5th. Citigroup lifted their target price on shares of Marathon Petroleum from $67.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, October 18th. Wells Fargo & Company lowered shares of Marathon Petroleum from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $65.00 to $56.00 in a report on Tuesday, September 5th. Barclays boosted their price objective on shares of Marathon Petroleum from $63.00 to $76.00 and gave the stock an “overweight” rating in a report on Tuesday, November 14th. Finally, Scotiabank reissued a “hold” rating and issued a $55.00 target price on shares of Marathon Petroleum in a research report on Friday, September 1st. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $65.54.
Marathon Petroleum Corporation (MPC) traded up $1.24 during mid-day trading on Wednesday, reaching $64.54. 4,256,100 shares of the company traded hands, compared to its average volume of 4,373,075. Marathon Petroleum Corporation has a fifty-two week low of $46.88 and a fifty-two week high of $65.41. The company has a current ratio of 1.52, a quick ratio of 0.80 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $30,916.49, a price-to-earnings ratio of 19.24, a PEG ratio of 1.52 and a beta of 1.61.
Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Thursday, October 26th. The oil and gas company reported $1.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.48 by $0.29. The firm had revenue of $19.36 billion for the quarter, compared to analyst estimates of $19.38 billion. Marathon Petroleum had a net margin of 2.35% and a return on equity of 8.52%. The company’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.58 EPS. equities analysts forecast that Marathon Petroleum Corporation will post 3.8 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Thursday, November 16th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date is Wednesday, November 15th. Marathon Petroleum’s dividend payout ratio is 49.08%.
Marathon Petroleum 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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