Goelzer Investment Management Inc. boosted its holdings in Marathon Petroleum Corp (NYSE:MPC) by 1.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,596 shares of the oil and gas company’s stock after purchasing an additional 313 shares during the quarter. Goelzer Investment Management Inc.’s holdings in Marathon Petroleum were worth $1,859,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Fulcrum Capital LLC acquired a new stake in Marathon Petroleum in the 3rd quarter valued at $6,313,000. Venturi Wealth Management LLC acquired a new stake in Marathon Petroleum in the 3rd quarter valued at $25,000. Mechanics Bank Trust Department acquired a new stake in Marathon Petroleum in the 3rd quarter valued at $29,000. Old North State Trust LLC grew its position in Marathon Petroleum by 209.1% in the 3rd quarter. Old North State Trust LLC now owns 476 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 322 shares during the period. Finally, Endurance Wealth Management Inc. grew its position in Marathon Petroleum by 365.4% in the 3rd quarter. Endurance Wealth Management Inc. now owns 484 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 380 shares during the period. 77.37% of the stock is owned by institutional investors and hedge funds.
A number of research firms have issued reports on MPC. Cfra downgraded shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Morgan Stanley lifted their price objective on shares of Marathon Petroleum from $70.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Cowen lifted their price objective on shares of Marathon Petroleum from $57.00 to $60.00 and gave the stock a “market perform” rating in a report on Wednesday, September 25th. Jefferies Financial Group began coverage on shares of Marathon Petroleum in a report on Tuesday, September 3rd. They set a “buy” rating and a $75.00 price objective on the stock. Finally, Wells Fargo & Co lifted their price objective on shares of Marathon Petroleum from $75.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, September 25th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $73.38.
Shares of NYSE MPC traded up $0.07 during mid-day trading on Thursday, reaching $64.32. 2,039,416 shares of the company’s stock were exchanged, compared to its average volume of 6,378,596. The firm has a market capitalization of $42.67 billion, a price-to-earnings ratio of 9.49, a price-to-earnings-growth ratio of 1.57 and a beta of 1.70. Marathon Petroleum Corp has a 52 week low of $43.96 and a 52 week high of $69.65. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.25 and a quick ratio of 0.62. The firm has a 50-day moving average price of $63.89 and a two-hundred day moving average price of $55.08.
Marathon Petroleum (NYSE:MPC) last released its earnings results on Thursday, October 31st. The oil and gas company reported $1.63 EPS for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.33. The company had revenue of $31.20 billion for the quarter, compared to analysts’ expectations of $32.89 billion. Marathon Petroleum had a return on equity of 8.94% and a net margin of 2.50%. The business’s revenue for the quarter was up 34.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.70 EPS. As a group, sell-side analysts forecast that Marathon Petroleum Corp will post 4.19 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th 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 3.30%. The ex-dividend date is Tuesday, November 19th. 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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