Dupont Capital Management Corp grew its stake in Marathon Petroleum Corp (NYSE:MPC) by 40.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 143,236 shares of the oil and gas company’s stock after acquiring an additional 41,565 shares during the quarter. Dupont Capital Management Corp’s holdings in Marathon Petroleum were worth $10,049,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Stone Ridge Asset Management LLC acquired a new position in Marathon Petroleum in the fourth quarter valued at $333,000. HL Financial Services LLC increased its stake in Marathon Petroleum by 272.1% in the first quarter. HL Financial Services LLC now owns 82,426 shares of the oil and gas company’s stock valued at $6,026,000 after purchasing an additional 60,277 shares during the last quarter. Hennessy Advisors Inc. acquired a new position in Marathon Petroleum in the first quarter valued at $10,521,000. Wells Fargo & Company MN increased its stake in Marathon Petroleum by 44.1% in the first quarter. Wells Fargo & Company MN now owns 2,002,582 shares of the oil and gas company’s stock valued at $146,410,000 after purchasing an additional 612,420 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in Marathon Petroleum by 49.1% in the first quarter. Daiwa Securities Group Inc. now owns 50,909 shares of the oil and gas company’s stock valued at $3,722,000 after purchasing an additional 16,774 shares during the last quarter. Institutional investors and hedge funds own 79.35% of the company’s stock.
NYSE:MPC traded up $0.52 on Monday, hitting $81.51. 330,383 shares of the stock were exchanged, compared to its average volume of 4,798,971. The firm has a market capitalization of $37.41 billion, a PE ratio of 21.46, a P/E/G ratio of 1.14 and a beta of 1.32. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.73 and a quick ratio of 1.12. Marathon Petroleum Corp has a fifty-two week low of $49.30 and a fifty-two week high of $83.33.
Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Thursday, July 26th. The oil and gas company reported $2.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.98 by $0.29. The company had revenue of $22.45 billion during the quarter, compared to analyst estimates of $22.14 billion. Marathon Petroleum had a return on equity of 12.66% and a net margin of 4.89%. The firm’s revenue was up 22.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.93 earnings per share. research analysts anticipate that Marathon Petroleum Corp will post 4.99 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Thursday, August 16th will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Wednesday, August 15th. This represents a $1.84 annualized dividend and a yield of 2.26%. Marathon Petroleum’s dividend payout ratio is presently 48.42%.
In other Marathon Petroleum news, insider Thomas M. Kelley sold 24,818 shares of the company’s stock in a transaction dated Wednesday, May 30th. The stock was sold at an average price of $79.47, for a total transaction of $1,972,286.46. Following the completion of the sale, the insider now directly owns 51,869 shares in the company, valued at $4,122,029.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.09% of the company’s stock.
Several research firms recently commented on MPC. Bank of America upped their target price on Marathon Petroleum from $80.00 to $88.00 and gave the company a “neutral” rating in a research note on Tuesday, May 1st. Wells Fargo & Co reiterated a “market perform” rating and issued a $80.00 target price (up from $73.00) on shares of Marathon Petroleum in a research note on Tuesday, May 1st. Jefferies Financial Group upgraded Marathon Petroleum from a “hold” rating to a “buy” rating and upped their target price for the company from $75.00 to $95.00 in a research note on Thursday, May 3rd. JPMorgan Chase & Co. upped their target price on Marathon Petroleum from $98.00 to $102.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Zacks Investment Research upgraded Marathon Petroleum from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a research note on Sunday, July 15th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $84.38.
About Marathon Petroleum
Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.
Further Reading: Closed-End Mutual Funds
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