Great West Life Assurance Co. Can raised its position in Marathon Petroleum Corporation (NYSE:MPC) by 75.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 981,591 shares of the oil and gas company’s stock after buying an additional 421,557 shares during the period. Great West Life Assurance Co. Can owned about 0.19% of Marathon Petroleum Corporation worth $51,297,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Guardian Life Insurance Co. of America raised its position in Marathon Petroleum Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,036 shares of the oil and gas company’s stock worth $103,000 after buying an additional 14 shares during the last quarter. FTB Advisors Inc. raised its position in shares of Marathon Petroleum Corporation by 484.9% in the first quarter. FTB Advisors Inc. now owns 2,047 shares of the oil and gas company’s stock valued at $104,000 after buying an additional 1,697 shares in the last quarter. Carroll Financial Associates Inc. raised its position in shares of Marathon Petroleum Corporation by 12.3% in the first quarter. Carroll Financial Associates Inc. now owns 2,287 shares of the oil and gas company’s stock valued at $115,000 after buying an additional 250 shares in the last quarter. Jacobi Capital Management LLC raised its position in shares of Marathon Petroleum Corporation by 32.2% in the first quarter. Jacobi Capital Management LLC now owns 2,340 shares of the oil and gas company’s stock valued at $116,000 after buying an additional 570 shares in the last quarter. Finally, Tarbox Group Inc. raised its position in shares of Marathon Petroleum Corporation by 1.5% in the first quarter. Tarbox Group Inc. now owns 2,423 shares of the oil and gas company’s stock valued at $122,000 after buying an additional 36 shares in the last quarter. Institutional investors and hedge funds own 81.58% of the company’s stock.
Marathon Petroleum Corporation (NYSE:MPC) traded down 0.10% during mid-day trading on Friday, hitting $52.16. 3,303,532 shares of the company were exchanged. The company has a market capitalization of $26.41 billion, a P/E ratio of 31.10 and a beta of 1.56. The company’s 50-day moving average is $54.14 and its 200 day moving average is $51.64. Marathon Petroleum Corporation has a 12-month low of $39.29 and a 12-month high of $56.81.
Marathon Petroleum Corporation (NYSE:MPC) last released its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share for the quarter, missing the 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 firm had revenue of $18.35 billion for the quarter, compared to analysts’ expectations of $19.98 billion. During the same quarter last year, the firm posted $1.07 earnings per share. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. Analysts expect that Marathon Petroleum Corporation will post $2.74 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Wednesday, August 16th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, August 14th. This is a boost from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a yield of 3.07%. Marathon Petroleum Corporation’s payout ratio is 81.82%.
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MPC has been the topic of several research reports. Citigroup Inc. restated a “buy” rating and set a $67.00 price target (down from $68.50) on shares of Marathon Petroleum Corporation in a research note on Saturday, April 22nd. Zacks Investment Research lowered Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $69.00 price objective on shares of Marathon Petroleum Corporation in a report on Thursday, June 1st. Scotiabank set a $55.00 price objective on Marathon Petroleum Corporation and gave the company a “hold” rating in a report on Tuesday, July 11th. Finally, Credit Suisse Group reaffirmed a “buy” rating and set a $64.00 price objective on shares of Marathon Petroleum Corporation in a report on Friday, July 14th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. Marathon Petroleum Corporation presently has a consensus rating of “Buy” and a consensus target price of $58.62.
In other Marathon Petroleum Corporation news, insider Thomas M. Kelley sold 25,000 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $54.33, for a total value of $1,358,250.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP C. Michael Palmer sold 4,000 shares of the business’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $53.25, for a total transaction of $213,000.00. Following the completion of the transaction, the vice president now owns 61,757 shares in the company, valued at $3,288,560.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,568 shares of company stock worth $1,808,969. 1.05% of the stock is owned by corporate insiders.
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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