National Asset Management Inc. grew its holdings in Marathon Petroleum Corp (NYSE:MPC) by 16.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 4,805 shares of the oil and gas company’s stock after acquiring an additional 670 shares during the period. National Asset Management Inc.’s holdings in Marathon Petroleum were worth $270,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased 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 worth $593,940,000 after purchasing an additional 4,153,879 shares during the period. Geode Capital Management LLC boosted its stake in 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. CWM LLC boosted its stake in Marathon Petroleum by 6.1% in the first quarter. CWM LLC now owns 9,998 shares of the oil and gas company’s stock valued at $598,000 after buying an additional 577 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in Marathon Petroleum in the first quarter valued at about $2,022,000. Finally, Ellis Investment Partners LLC acquired a new stake in Marathon Petroleum in the first quarter valued at about $50,000. Institutional investors and hedge funds own 77.55% of the company’s stock.
In other 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, with a total value of $601,750.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.06% of the company’s stock.Several research firms recently weighed in on MPC. Cowen lowered Marathon Petroleum from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $90.00 to $65.00 in a research note on Friday, May 10th. Raymond James raised their price objective on Marathon Petroleum from $72.00 to $75.00 and gave the company a “strong-buy” rating in a research note on Friday, August 2nd. Zacks Investment Research lowered Marathon Petroleum from a “hold” rating to a “strong sell” rating in a research note on Friday, May 17th. ValuEngine raised Marathon Petroleum from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 22nd. Finally, Wells Fargo & Co reduced their price objective on Marathon Petroleum from $96.00 to $90.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Two equities 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 issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $82.62.
Shares of MPC stock traded up $0.15 during mid-day trading on Monday, reaching $45.91. 283,930 shares of the stock traded hands, compared to its average volume of 5,893,537. The stock’s fifty day simple moving average is $52.34 and its two-hundred day simple moving average is $56.20. Marathon Petroleum Corp has a 1-year low of $43.96 and a 1-year high of $88.45. The company has a market cap of $30.87 billion, a price-to-earnings ratio of 6.77, a price-to-earnings-growth ratio of 1.07 and a beta of 1.68. The company has a quick ratio of 0.63, a current ratio of 1.24 and a debt-to-equity ratio of 0.69.
Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Thursday, August 1st. The oil and gas company reported $1.73 EPS for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.40. Marathon Petroleum had a return on equity of 9.55% and a net margin of 2.36%. The firm had revenue of $33.70 billion for the quarter, compared to analyst estimates of $33.26 billion. During the same period last year, the firm posted $2.27 earnings per share. The business’s revenue for the quarter was up 50.1% on a year-over-year basis. On average, equities research analysts anticipate that Marathon Petroleum Corp will post 4.36 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date is Tuesday, August 20th. Marathon Petroleum’s payout ratio is 31.27%.
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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