Everence Capital Management Inc. grew its position in shares of Marathon Petroleum Corp (NYSE:MPC) by 16.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,141 shares of the oil and gas company’s stock after purchasing an additional 2,500 shares during the period. Everence Capital Management Inc.’s holdings in Marathon Petroleum were worth $1,014,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of MPC. Jones Financial Companies Lllp purchased a new position in shares of Marathon Petroleum in the second quarter worth about $2,345,000. Whitener Capital Management Inc. increased its holdings in Marathon Petroleum by 21.0% during the 2nd quarter. Whitener Capital Management Inc. now owns 1,270 shares of the oil and gas company’s stock valued at $70,000 after purchasing an additional 220 shares during the period. AlphaMark Advisors LLC increased its holdings in Marathon Petroleum by 26.4% during the 2nd quarter. AlphaMark Advisors LLC now owns 79,339 shares of the oil and gas company’s stock valued at $4,433,000 after purchasing an additional 16,567 shares during the period. Sompo Japan Nipponkoa Asset Management CO. LTD. purchased a new position in Marathon Petroleum during the 2nd quarter valued at about $4,169,000. Finally, Duff & Phelps Investment Management Co. increased its holdings in Marathon Petroleum by 26.2% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 149,425 shares of the oil and gas company’s stock valued at $8,350,000 after purchasing an additional 31,000 shares during the period. 76.94% of the stock is owned by hedge funds and other institutional investors.
Marathon Petroleum stock opened at $46.22 on Friday. The stock’s 50 day simple moving average is $53.50 and its two-hundred day simple moving average is $56.73. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.63 and a current ratio of 1.24. The stock has a market cap of $29.89 billion, a price-to-earnings ratio of 6.82, a PEG ratio of 1.27 and a beta of 1.68. Marathon Petroleum Corp has a fifty-two week low of $43.96 and a fifty-two week high of $88.45.Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Thursday, August 1st. The oil and gas company reported $1.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.40. The business had revenue of $33.70 billion for the quarter, compared to analysts’ expectations of $33.26 billion. Marathon Petroleum had a return on equity of 9.55% and a net margin of 2.36%. The business’s revenue was up 50.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.27 EPS. On average, analysts predict that Marathon Petroleum Corp will post 4.4 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $2.12 annualized dividend and a yield of 4.59%. Marathon Petroleum’s payout ratio is 31.27%.
In other news, Director James E. Rohr acquired 12,500 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were acquired at an average cost of $48.14 per share, with a total value of $601,750.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.06% of the company’s stock.
MPC has been the topic of a number of research analyst reports. Cowen downgraded Marathon Petroleum from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $90.00 to $65.00 in a report on Friday, May 10th. Raymond James boosted their price target on Marathon Petroleum from $72.00 to $75.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd. Wells Fargo & Co reduced their price target on Marathon Petroleum from $96.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. ValuEngine upgraded Marathon Petroleum from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 22nd. Finally, Royal Bank of Canada cut their price objective on 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 research analysts have rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. Marathon Petroleum currently has an average rating of “Buy” and an average price target of $82.62.
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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