Investec Asset Management LTD decreased its stake in Marathon Petroleum Corp (NYSE:MPC) by 22.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 280,651 shares of the oil and gas company’s stock after selling 82,858 shares during the period. Investec Asset Management LTD’s holdings in Marathon Petroleum were worth $15,683,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in MPC. BlackRock Inc. boosted its holdings in shares of Marathon Petroleum by 1.0% during the first quarter. BlackRock Inc. now owns 55,146,715 shares of the oil and gas company’s stock worth $3,300,532,000 after acquiring an additional 565,583 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Marathon Petroleum by 70.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,065,459 shares of the oil and gas company’s stock valued at $593,940,000 after buying an additional 4,153,879 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Marathon Petroleum by 8.3% in the fourth quarter. Geode Capital Management LLC now owns 8,732,890 shares of the oil and gas company’s stock valued at $514,399,000 after buying an additional 671,836 shares in the last quarter. Iridian Asset Management LLC CT raised its position in shares of Marathon Petroleum by 7.0% in the first quarter. Iridian Asset Management LLC CT now owns 5,511,516 shares of the oil and gas company’s stock valued at $329,864,000 after buying an additional 361,000 shares in the last quarter. Finally, LSV Asset Management raised its position in shares of Marathon Petroleum by 4.3% in the first quarter. LSV Asset Management now owns 5,233,573 shares of the oil and gas company’s stock valued at $313,229,000 after buying an additional 216,163 shares in the last quarter. Institutional investors own 76.94% of the company’s stock.
Shares of Marathon Petroleum stock traded up $0.82 during trading on Friday, hitting $46.22. The company’s stock had a trading volume of 4,952,900 shares, compared to its average volume of 5,891,341. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.24 and a quick ratio of 0.63. Marathon Petroleum Corp has a 52 week low of $43.96 and a 52 week high of $88.45. The stock has a market cap of $29.89 billion, a price-to-earnings ratio of 6.82, a price-to-earnings-growth ratio of 1.27 and a beta of 1.68. The stock has a 50-day moving average price of $53.50 and a two-hundred day moving average price of $56.73.Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Thursday, August 1st. The oil and gas company reported $1.73 earnings per share for the quarter, topping the 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 analysts’ expectations of $33.26 billion. During the same quarter in the previous year, the firm posted $2.27 earnings per share. Marathon Petroleum’s revenue for the quarter was up 50.1% on a year-over-year basis. On average, equities analysts predict that Marathon Petroleum Corp will post 4.4 EPS for the current fiscal year.
The company also recently declared 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 dividend on an annualized basis and a yield of 4.59%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 31.27%.
A number of equities research analysts have recently weighed in on MPC shares. Zacks Investment Research downgraded shares of Marathon Petroleum from a “hold” rating to a “strong sell” rating in a research report on Friday, May 17th. Cowen downgraded shares of Marathon Petroleum from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $90.00 to $65.00 in a research report on Friday, May 10th. Morgan Stanley lowered their price objective on shares of Marathon Petroleum from $82.00 to $75.00 and set an “overweight” rating for the company in a research report on Friday, May 17th. Royal Bank of Canada lowered their price objective on shares of Marathon Petroleum from $71.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. Finally, Credit Suisse Group lowered their price objective on shares of Marathon Petroleum from $95.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, May 13th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $82.62.
In other news, Director James E. Rohr purchased 12,500 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were acquired at an average price of $48.14 per share, with a total value of $601,750.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.06% of the company’s stock.
Marathon Petroleum 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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