Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 0.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 136,986 shares of the oil and gas company’s stock after selling 986 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Marathon Petroleum Corporation were worth $6,923,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the stock. Perennial Advisors LLC purchased a new stake in shares of Marathon Petroleum Corporation during the fourth quarter worth about $101,000. FTB Advisors Inc. boosted its position in Marathon Petroleum Corporation by 484.9% in the first quarter. FTB Advisors Inc. now owns 2,047 shares of the oil and gas company’s stock worth $104,000 after buying an additional 1,697 shares during the period. Carroll Financial Associates Inc. boosted its position in Marathon Petroleum Corporation by 12.3% in the first quarter. Carroll Financial Associates Inc. now owns 2,287 shares of the oil and gas company’s stock worth $115,000 after buying an additional 250 shares during the period. Tarbox Group Inc. boosted its position in Marathon Petroleum Corporation by 1.5% in the first quarter. Tarbox Group Inc. now owns 2,423 shares of the oil and gas company’s stock worth $122,000 after buying an additional 36 shares during the period. Finally, Pinnacle Bank acquired a new position in shares of Marathon Petroleum Corporation during the first quarter worth about $124,000. Institutional investors and hedge funds own 80.00% of the company’s stock.
Shares of Marathon Petroleum Corporation (NYSE MPC) opened at 53.77 on Friday. The firm has a 50-day moving average price of $52.53 and a 200 day moving average price of $50.36. The company has a market cap of $27.89 billion, a P/E ratio of 23.71 and a beta of 1.67. Marathon Petroleum Corporation has a 12 month low of $32.84 and a 12 month high of $55.20.
Marathon Petroleum Corporation (NYSE:MPC) last released its quarterly earnings results on Thursday, April 27th. The oil and gas company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.07. Marathon Petroleum Corporation had a return on equity of 5.68% and a net margin of 1.80%. The business had revenue of $16.39 billion during the quarter, compared to analyst estimates of $19.03 billion. During the same period last year, the business posted $0.07 earnings per share. The company’s quarterly revenue was up 27.8% on a year-over-year basis. Equities analysts predict that Marathon Petroleum Corporation will post $2.96 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Wednesday, May 17th were given a dividend of $0.36 per share. The ex-dividend date was Monday, May 15th. This represents a $1.44 annualized dividend and a dividend yield of 2.68%. Marathon Petroleum Corporation’s dividend payout ratio is currently 63.44%.
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A number of research firms have weighed in on MPC. Credit Suisse Group reissued a “buy” rating and set a $63.00 target price on shares of Marathon Petroleum Corporation in a research report on Friday, March 3rd. Royal Bank Of Canada reaffirmed a “buy” rating and set a $69.00 price objective on shares of Marathon Petroleum Corporation in a research report on Thursday, June 1st. Citigroup Inc. reaffirmed a “buy” rating and set a $67.00 price objective (down previously from $68.50) on shares of Marathon Petroleum Corporation in a research report on Saturday, April 22nd. Jefferies Group LLC reissued a “buy” rating and issued a $61.00 price target on shares of Marathon Petroleum Corporation in a research report on Wednesday, April 19th. Finally, US Capital Advisors restated a “buy” rating on shares of Marathon Petroleum Corporation in a research note on Monday, May 22nd. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $58.50.
In other news, VP C. Michael Palmer sold 4,568 shares of the stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $52.04, for a total value of $237,718.72. Following the sale, the vice president now directly owns 62,325 shares in the company, valued at $3,243,393. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Thomas M. Kelley sold 25,000 shares of the stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $54.33, for a total value of $1,358,250.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,568 shares of company stock valued at $1,808,969. Company insiders own 1.05% of the company’s stock.
Marathon Petroleum Corporation Company Profile
Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.
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