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Marathon Petroleum Corp (NYSE:MPC) Shares Bought by Clear Harbor Asset Management LLC

By August 25, 2019 No Comments

Clear Harbor Asset Management LLC boosted its holdings in shares of Marathon Petroleum Corp (NYSE:MPC) by 60.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 54,220 shares of the oil and gas company’s stock after buying an additional 20,450 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Marathon Petroleum were worth $3,030,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Field & Main Bank boosted its position in shares of Marathon Petroleum by 7.2% in the second quarter. Field & Main Bank now owns 6,205 shares of the oil and gas company’s stock worth $347,000 after purchasing an additional 415 shares during the period. AE Wealth Management LLC lifted its holdings in shares of Marathon Petroleum by 102.9% in the second quarter. AE Wealth Management LLC now owns 28,338 shares of the oil and gas company’s stock worth $1,584,000 after buying an additional 14,372 shares in the last quarter. Kistler Tiffany Companies LLC lifted its holdings in shares of Marathon Petroleum by 66.9% in the second quarter. Kistler Tiffany Companies LLC now owns 3,252 shares of the oil and gas company’s stock worth $182,000 after buying an additional 1,303 shares in the last quarter. Allen Capital Group LLC lifted its holdings in shares of Marathon Petroleum by 8.4% in the second quarter. Allen Capital Group LLC now owns 9,042 shares of the oil and gas company’s stock worth $505,000 after buying an additional 700 shares in the last quarter. Finally, Cerebellum GP LLC lifted its holdings in shares of Marathon Petroleum by 21.7% in the second quarter. Cerebellum GP LLC now owns 6,384 shares of the oil and gas company’s stock worth $357,000 after buying an additional 1,139 shares in the last quarter. Institutional investors own 77.55% of the company’s stock.

Shares of MPC opened at $45.76 on Friday. Marathon Petroleum Corp has a twelve month low of $43.96 and a twelve month high of $88.45. The company has a market cap of $31.09 billion, a P/E ratio of 6.75, a P/E/G ratio of 1.08 and a beta of 1.68. The company has a current ratio of 1.24, a quick ratio of 0.63 and a debt-to-equity ratio of 0.69. The company’s fifty day simple moving average is $52.34 and its 200-day simple moving average is $56.20.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Thursday, August 1st. The oil and gas company reported $1.73 EPS for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.40. The firm had revenue of $33.70 billion for the quarter, compared to analysts’ expectations of $33.26 billion. Marathon Petroleum had a net margin of 2.36% and a return on equity of 9.55%. The business’s revenue for the quarter was up 50.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.27 earnings per share. Analysts predict that Marathon Petroleum Corp will post 4.4 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date is Tuesday, August 20th. Marathon Petroleum’s payout ratio is presently 31.27%.

Several equities analysts have recently commented on MPC shares. Royal Bank of Canada lowered their target price on shares of Marathon Petroleum from $71.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. Raymond James boosted their target price on shares of Marathon Petroleum from $72.00 to $75.00 and gave the stock a “strong-buy” rating in a report on Friday, August 2nd. Credit Suisse Group lowered their target price on shares of Marathon Petroleum from $95.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, May 13th. Wells Fargo & Co lowered their target price on shares of Marathon Petroleum from $96.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. Finally, Morgan Stanley lowered their target price on shares of Marathon Petroleum from $82.00 to $75.00 and set an “overweight” rating on the stock in a report on Friday, May 17th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $82.62.

In related news, Director James E. Rohr purchased 12,500 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were purchased at an average cost of $48.14 per share, for a total transaction 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 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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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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