Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 14.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,692,710 shares of the oil and gas company’s stock after buying an additional 211,590 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.33% of Marathon Petroleum Corporation worth $88,580,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the stock. CGOV Asset Management raised its stake in shares of Marathon Petroleum Corporation by 30.0% in the first quarter. CGOV Asset Management now owns 13,000 shares of the oil and gas company’s stock valued at $875,000 after buying an additional 3,000 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Marathon Petroleum Corporation during the first quarter valued at $786,000. Retirement Systems of Alabama raised its stake in shares of Marathon Petroleum Corporation by 2.0% in the first quarter. Retirement Systems of Alabama now owns 255,122 shares of the oil and gas company’s stock valued at $12,894,000 after buying an additional 4,952 shares in the last quarter. Nationwide Fund Advisors raised its stake in shares of Marathon Petroleum Corporation by 15.9% in the first quarter. Nationwide Fund Advisors now owns 354,982 shares of the oil and gas company’s stock valued at $17,941,000 after buying an additional 48,611 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its stake in shares of Marathon Petroleum Corporation by 3.6% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 14,076 shares of the oil and gas company’s stock valued at $665,000 after buying an additional 495 shares in the last quarter. 81.36% of the stock is owned by hedge funds and other institutional investors.
Shares of Marathon Petroleum Corporation (NYSE:MPC) opened at 49.67 on Wednesday. The company’s 50-day moving average price is $53.94 and its 200 day moving average price is $51.77. The company has a market cap of $25.15 billion, a PE ratio of 29.62 and a beta of 1.56. Marathon Petroleum Corporation has a one year low of $39.29 and a one year high of $56.81.
Marathon Petroleum Corporation (NYSE:MPC) last posted its earnings results on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.04 by $0.01. Marathon Petroleum Corporation had a return on equity of 5.52% and a net margin of 1.34%. The business had revenue of $18.35 billion for the quarter, compared to the consensus estimate of $19.98 billion. During the same period in the previous year, the firm earned $1.07 earnings per share. The company’s revenue was up 9.3% compared to the same quarter last year. Equities analysts forecast that Marathon Petroleum Corporation will post $2.75 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Wednesday, August 16th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.22%. This is a positive change from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Monday, August 14th. Marathon Petroleum Corporation’s payout ratio is presently 90.91%.
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Several analysts recently weighed in on MPC shares. Scotiabank reissued a “hold” rating and issued a $54.00 price objective on shares of Marathon Petroleum Corporation in a report on Friday, April 28th. US Capital Advisors restated a “buy” rating on shares of Marathon Petroleum Corporation in a research note on Monday, May 22nd. Piper Jaffray Companies restated an “overweight” rating and issued a $62.00 target price on shares of Marathon Petroleum Corporation in a research note on Thursday, May 25th. Royal Bank Of Canada restated a “buy” rating and issued a $69.00 target price on shares of Marathon Petroleum Corporation in a research note on Thursday, June 1st. Finally, BidaskClub downgraded Marathon Petroleum Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $58.62.
In other Marathon Petroleum Corporation news, insider Thomas M. Kelley sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $54.33, for a total transaction of $1,358,250.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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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