TradeLink Capital LLC bought a new position in shares of Marathon Petroleum Corp (NYSE:MPC) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 4,600 shares of the oil and gas company’s stock, valued at approximately $323,000. Marathon Petroleum makes up about 1.6% of TradeLink Capital LLC’s investment portfolio, making the stock its 16th biggest position.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HL Financial Services LLC lifted its position in shares of Marathon Petroleum by 272.1% during the 1st quarter. HL Financial Services LLC now owns 82,426 shares of the oil and gas company’s stock worth $6,026,000 after buying an additional 60,277 shares during the last quarter. Hennessy Advisors Inc. bought a new stake in shares of Marathon Petroleum during the 1st quarter worth $10,521,000. Wells Fargo & Company MN lifted its position in shares of Marathon Petroleum by 44.1% during the 1st quarter. Wells Fargo & Company MN now owns 2,002,582 shares of the oil and gas company’s stock worth $146,410,000 after buying an additional 612,420 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Marathon Petroleum by 49.1% during the 1st quarter. Daiwa Securities Group Inc. now owns 50,909 shares of the oil and gas company’s stock worth $3,722,000 after buying an additional 16,774 shares during the last quarter. Finally, Morse Asset Management Inc lifted its position in shares of Marathon Petroleum by 14.2% during the 1st quarter. Morse Asset Management Inc now owns 44,985 shares of the oil and gas company’s stock worth $3,289,000 after buying an additional 5,585 shares during the last quarter. 79.57% of the stock is currently owned by institutional investors.
In related news, insider Thomas M. Kelley sold 24,818 shares of the firm’s stock in a transaction that occurred on 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 owns 51,869 shares of the company’s stock, valued at $4,122,029.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.09% of the company’s stock.
Several brokerages recently weighed in on MPC. Mizuho began coverage on Marathon Petroleum in a research report on Wednesday, August 1st. They set a “buy” rating and a $95.00 price objective for the company. Tudor Pickering downgraded Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Friday, May 18th. Royal Bank of Canada restated a “buy” rating and set a $87.00 price objective on shares of Marathon Petroleum in a research report on Friday, July 27th. JPMorgan Chase & Co. upped their price objective on Marathon Petroleum from $98.00 to $102.00 and gave the stock an “overweight” rating in a research report on Friday, July 27th. Finally, ValuEngine downgraded Marathon Petroleum from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 6th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Marathon Petroleum has an average rating of “Buy” and a consensus price target of $85.00.
Marathon Petroleum stock opened at $80.93 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.60 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $36.42 billion, a price-to-earnings ratio of 21.30, a PEG ratio of 1.33 and a beta of 1.40. Marathon Petroleum Corp has a 12 month low of $49.30 and a 12 month high of $83.33.
Marathon Petroleum (NYSE:MPC) last posted its earnings results on Thursday, July 26th. The oil and gas company reported $2.27 EPS for the quarter, beating the consensus estimate of $1.98 by $0.29. The firm had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.14 billion. Marathon Petroleum had a return on equity of 12.83% and a net margin of 4.89%. The business’s quarterly revenue was up 22.3% on a year-over-year basis. During the same period last year, the company earned $0.93 earnings per share. research analysts anticipate that Marathon Petroleum Corp will post 5.12 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Thursday, August 16th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Wednesday, August 15th. This represents a $1.84 annualized dividend and a dividend yield of 2.27%. Marathon Petroleum’s payout ratio is 48.42%.
Marathon Petroleum Company Profile
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.
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