Kornitzer Capital Management Inc. KS Has $10.68 Million Stake in Marathon Petroleum Corporation $MPC

Kornitzer Capital Management Inc. KS decreased its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 8.5% in the 1st quarter, HoldingsChannel reports. The firm owned 43,756 shares of the oil and gas company’s stock after selling 4,075 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Marathon Petroleum were worth $10,684,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in MPC. Norges Bank acquired a new position in Marathon Petroleum during the 4th quarter worth about $472,312,000. Capital Wealth Planning LLC increased its position in Marathon Petroleum by 49,392.0% in the 4th quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company’s stock valued at $245,157,000 after acquiring an additional 1,495,097 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Marathon Petroleum by 3,816.8% in the fourth quarter. Pacer Advisors Inc. now owns 1,306,749 shares of the oil and gas company’s stock worth $212,517,000 after acquiring an additional 1,273,386 shares during the last quarter. Man Group plc raised its stake in shares of Marathon Petroleum by 2,175.0% in the fourth quarter. Man Group plc now owns 568,790 shares of the oil and gas company’s stock worth $92,502,000 after acquiring an additional 543,788 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Marathon Petroleum by 104.8% during the fourth quarter. Victory Capital Management Inc. now owns 1,055,897 shares of the oil and gas company’s stock worth $171,721,000 after purchasing an additional 540,283 shares in the last quarter. Institutional investors own 76.77% of the company’s stock.

Insider Activity at Marathon Petroleum

In related news, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the sale, the vice president owned 16,900 shares of the company’s stock, valued at approximately $4,543,058. This trade represents a 27.27% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.17% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on MPC shares. Wells Fargo & Company reiterated an “overweight” rating and issued a $344.00 price objective on shares of Marathon Petroleum in a research report on Monday, June 15th. JPMorgan Chase & Co. boosted their price objective on Marathon Petroleum from $235.00 to $257.00 in a report on Wednesday, May 6th. TD Cowen reduced their target price on shares of Marathon Petroleum from $320.00 to $315.00 and set a “buy” rating on the stock in a research note on Monday, June 29th. Mizuho increased their price objective on shares of Marathon Petroleum from $224.00 to $284.00 and gave the company a “neutral” rating in a report on Wednesday, May 27th. Finally, Weiss Ratings raised shares of Marathon Petroleum from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday. Ten analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $274.88.

Marathon Petroleum Trading Up 0.1%

Marathon Petroleum stock traded up $0.30 during midday trading on Friday, hitting $283.60. 1,932,314 shares of the stock were exchanged, compared to its average volume of 2,239,416. The stock has a market capitalization of $82.79 billion, a PE ratio of 18.51, a P/E/G ratio of 0.41 and a beta of 0.52. The company has a fifty day simple moving average of $256.82 and a two-hundred day simple moving average of $222.50. The company has a quick ratio of 0.73, a current ratio of 1.18 and a debt-to-equity ratio of 1.31. Marathon Petroleum Corporation has a 52 week low of $158.00 and a 52 week high of $287.15.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, beating the consensus estimate of $0.74 by $0.91. The firm had revenue of $34.20 billion during the quarter, compared to the consensus estimate of $33.42 billion. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.24) earnings per share. Equities research analysts anticipate that Marathon Petroleum Corporation will post 32.96 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were given a $1.00 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.4%. Marathon Petroleum’s dividend payout ratio is currently 26.11%.

About Marathon Petroleum

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.