State Street Corp boosted its position in Marathon Petroleum Co. (NYSE:MPC) by 2.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,563,314 shares of the oil and gas company’s stock after buying an additional 790,696 shares during the quarter. State Street Corp owned 5.77% of Marathon Petroleum worth $1,102,108,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. CVA Family Office LLC grew its position in shares of Marathon Petroleum by 9.9% during the 2nd quarter. CVA Family Office LLC now owns 2,964 shares of the oil and gas company’s stock valued at $111,000 after buying an additional 268 shares during the last quarter. Thomas White International Ltd. boosted its holdings in Marathon Petroleum by 1.5% in the 2nd quarter. Thomas White International Ltd. now owns 20,333 shares of the oil and gas company’s stock valued at $760,000 after purchasing an additional 300 shares during the period. Cullen Frost Bankers Inc. boosted its holdings in Marathon Petroleum by 0.9% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 37,691 shares of the oil and gas company’s stock valued at $1,106,000 after purchasing an additional 340 shares during the period. Trustcore Financial Services LLC boosted its holdings in Marathon Petroleum by 49.7% in the 2nd quarter. Trustcore Financial Services LLC now owns 1,027 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 341 shares during the period. Finally, Larson Financial Group LLC boosted its holdings in Marathon Petroleum by 34.5% in the 3rd quarter. Larson Financial Group LLC now owns 1,391 shares of the oil and gas company’s stock valued at $41,000 after purchasing an additional 357 shares during the period. Hedge funds and other institutional investors own 73.27% of the company’s stock.
A number of analysts have weighed in on MPC shares. JPMorgan Chase & Co. reduced their price target on shares of Marathon Petroleum from $44.00 to $37.00 and set a “neutral” rating for the company in a report on Friday, September 11th. Tudor Pickering raised shares of Marathon Petroleum from a “sell” rating to a “hold” rating and set a $32.00 price target for the company in a report on Monday, September 28th. Piper Sandler reduced their price target on shares of Marathon Petroleum from $46.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, September 9th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell reduced their price target on shares of Marathon Petroleum from $38.00 to $30.00 and set a “neutral” rating for the company in a report on Friday. Finally, Mizuho reduced their price target on shares of Marathon Petroleum from $52.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, October 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Marathon Petroleum presently has an average rating of “Buy” and a consensus target price of $42.47.
Shares of Marathon Petroleum stock opened at $38.26 on Friday. The stock has a market capitalization of $24.89 billion, a P/E ratio of -2.53 and a beta of 2.13. The company has a quick ratio of 0.57, a current ratio of 1.27 and a debt-to-equity ratio of 0.99. The company has a 50-day simple moving average of $31.52 and a 200 day simple moving average of $34.44. Marathon Petroleum Co. has a 12-month low of $15.26 and a 12-month high of $63.59.
Marathon Petroleum (NYSE:MPC) last announced its earnings results on Saturday, November 7th. The oil and gas company reported ($1.00) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.70) by $0.70. The business had revenue of $17.55 billion during the quarter, compared to analysts’ expectations of $18.08 billion. Marathon Petroleum had a negative net margin of 11.11% and a negative return on equity of 1.74%. The firm’s revenue for the quarter was down 36.6% on a year-over-year basis. During the same quarter last year, the company posted $1.63 EPS. On average, equities analysts anticipate that Marathon Petroleum Co. will post -3.75 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 18th will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 6.06%. The ex-dividend date is Tuesday, November 17th. Marathon Petroleum’s dividend payout ratio (DPR) is currently 46.96%.
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, Retail, and Midstream. The Refining & Marketing segment refines crude oil and other feed stocks at its 16 refineries in the West Coast, Gulf Coast, and Mid-Continent regions of the United States; and purchases refined products and ethanol for resale.
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