CWM LLC decreased its position in Marathon Petroleum Corporation (NYSE:MPC) by 9.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,819 shares of the oil and gas company’s stock after selling 999 shares during the period. CWM LLC’s holdings in Marathon Petroleum Corporation were worth $514,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of MPC. Putnam Investments LLC boosted its stake in Marathon Petroleum Corporation by 52.9% in the fourth quarter. Putnam Investments LLC now owns 18,910 shares of the oil and gas company’s stock worth $952,000 after buying an additional 6,545 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in Marathon Petroleum Corporation during the fourth quarter worth about $10,390,000. Wealthfront Inc. boosted its stake in Marathon Petroleum Corporation by 7.1% in the fourth quarter. Wealthfront Inc. now owns 12,271 shares of the oil and gas company’s stock worth $618,000 after buying an additional 812 shares during the last quarter. Teachers Advisors LLC boosted its stake in Marathon Petroleum Corporation by 38.7% in the fourth quarter. Teachers Advisors LLC now owns 1,203,514 shares of the oil and gas company’s stock worth $60,597,000 after buying an additional 335,580 shares during the last quarter. Finally, Kentucky Retirement Systems acquired a new stake in Marathon Petroleum Corporation during the fourth quarter worth about $1,928,000. 81.58% of the stock is owned by institutional investors and hedge funds.
Marathon Petroleum Corporation (NYSE:MPC) traded down 0.10% during trading on Friday, hitting $52.16. 3,303,532 shares of the company traded hands. The firm has a market capitalization of $26.41 billion, a P/E ratio of 31.10 and a beta of 1.56. Marathon Petroleum Corporation has a 12-month low of $39.29 and a 12-month high of $56.81. The stock has a 50-day moving average price of $54.14 and a 200-day moving average price of $51.64.
Marathon Petroleum Corporation (NYSE:MPC) last announced its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by $0.01. Marathon Petroleum Corporation had a return on equity of 5.52% and a net margin of 1.34%. The company had revenue of $18.35 billion for the quarter, compared to the consensus estimate of $19.98 billion. During the same quarter last year, the company posted $1.07 EPS. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. Equities analysts expect that Marathon Petroleum Corporation will post $2.74 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Wednesday, August 16th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is Monday, August 14th. This is an increase from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. Marathon Petroleum Corporation’s dividend payout ratio is 81.82%.
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A number of analysts recently issued reports on MPC shares. Jefferies Group LLC reissued a “buy” rating and set a $61.00 target price on shares of Marathon Petroleum Corporation in a research note on Wednesday, April 19th. Citigroup Inc. reissued a “buy” rating and set a $67.00 target price (down from $68.50) on shares of Marathon Petroleum Corporation in a research note on Saturday, April 22nd. Scotiabank reissued a “hold” rating and set a $54.00 target price on shares of Marathon Petroleum Corporation in a research note on Friday, April 28th. US Capital Advisors reaffirmed a “buy” rating on shares of Marathon Petroleum Corporation in a research note on Monday, May 22nd. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and set a $62.00 price target on shares of Marathon Petroleum Corporation in a research note on Thursday, May 25th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Marathon Petroleum Corporation presently has an average rating of “Buy” and a consensus price target of $58.62.
In other Marathon Petroleum Corporation news, insider Thomas M. Kelley sold 25,000 shares of the company’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $54.33, for a total value of $1,358,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP C. Michael Palmer sold 4,000 shares of the company’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $53.25, for a total value of $213,000.00. Following the completion of the transaction, the vice president now owns 61,757 shares of the company’s stock, valued at approximately $3,288,560.25. The disclosure for this sale can be found here. Insiders sold a total of 33,568 shares of company stock valued at $1,808,969 in the last 90 days. Corporate insiders own 1.05% of the company’s stock.
About Marathon Petroleum Corporation
Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.
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