Baker Ellis Asset Management LLC grew its stake in Marathon Petroleum Corp (NYSE:MPC) by 19.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,173 shares of the oil and gas company’s stock after purchasing an additional 4,675 shares during the quarter. Baker Ellis Asset Management LLC’s holdings in Marathon Petroleum were worth $1,630,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of MPC. Alpha Omega Wealth Management LLC raised its holdings in Marathon Petroleum by 135.1% in the 1st quarter. Alpha Omega Wealth Management LLC now owns 435 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 250 shares in the last quarter. Wealthcare Advisory Partners LLC grew its position in shares of Marathon Petroleum by 345.6% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 508 shares of the oil and gas company’s stock worth $28,000 after buying an additional 394 shares during the period. AllSquare Wealth Management LLC purchased a new stake in shares of Marathon Petroleum in the 1st quarter worth about $32,000. Tarbox Family Office Inc. grew its position in shares of Marathon Petroleum by 51.5% in the 2nd quarter. Tarbox Family Office Inc. now owns 568 shares of the oil and gas company’s stock worth $32,000 after buying an additional 193 shares during the period. Finally, Next Capital Management LLC purchased a new stake in shares of Marathon Petroleum in the 2nd quarter worth about $35,000. Institutional investors and hedge funds own 77.55% of the company’s stock.
In other news, Director James E. Rohr acquired 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The shares were bought at an average cost of $48.14 per share, with a total value of $601,750.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.06% of the company’s stock.
A number of research firms have recently weighed in on MPC. Wells Fargo & Co reduced their target price on shares of Marathon Petroleum from $96.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Morgan Stanley reduced their target price on shares of Marathon Petroleum from $82.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, May 17th. Raymond James upped their target price on shares of Marathon Petroleum from $72.00 to $75.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 2nd. Cowen downgraded shares of Marathon Petroleum from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $90.00 to $65.00 in a research report on Friday, May 10th. Finally, Royal Bank of Canada reduced their target price on shares of Marathon Petroleum from $71.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. Marathon Petroleum currently has an average rating of “Buy” and an average price target of $82.62.
Shares of MPC stock opened at $49.21 on Tuesday. Marathon Petroleum Corp has a one year low of $43.96 and a one year high of $88.45. The company’s 50-day moving average is $50.83 and its 200 day moving average is $55.38. The company has a market capitalization of $32.40 billion, a price-to-earnings ratio of 7.26, a price-to-earnings-growth ratio of 1.15 and a beta of 1.68. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.63 and a current ratio of 1.24.
Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Thursday, August 1st. The oil and gas company reported $1.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.40. Marathon Petroleum had a net margin of 2.36% and a return on equity of 9.55%. The company had revenue of $33.70 billion for the quarter, compared to the consensus estimate of $33.26 billion. During the same period in the prior year, the firm posted $2.27 EPS. Marathon Petroleum’s revenue for the quarter was up 50.1% on a year-over-year basis. As a group, research analysts predict that Marathon Petroleum Corp will post 4.23 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend is Tuesday, August 20th. Marathon Petroleum’s dividend payout ratio (DPR) is 31.27%.
Marathon Petroleum Company Profile
Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing; Retail; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals and trucks that the company owns or operates.
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