Creative Planning Has $2.20 Million Position in Marathon Petroleum Corporation (MPC)

Creative Planning increased its stake in Marathon Petroleum Corporation (NYSE:MPC) by 14.4% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 42,062 shares of the oil and gas company’s stock after buying an additional 5,283 shares during the period. Creative Planning’s holdings in Marathon Petroleum Corporation were worth $2,201,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the company. Guardian Life Insurance Co. of America increased its stake 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 valued at $103,000 after buying an additional 14 shares during the last quarter. FTB Advisors Inc. increased its stake in 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 during the last quarter. Carroll Financial Associates Inc. increased its stake in 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 during the last quarter. Jacobi Capital Management LLC increased its stake in 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 during the last quarter. Finally, Tarbox Group Inc. increased its stake in 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 during the last quarter. 81.36% of the stock is owned by institutional investors.

Marathon Petroleum Corporation (MPC) traded up 0.82% during trading on Friday, reaching $50.11. The company’s stock had a trading volume of 3,661,324 shares. The firm has a 50 day moving average of $54.03 and a 200 day moving average of $51.70. The stock has a market capitalization of $25.37 billion, a price-to-earnings ratio of 29.88 and a beta of 1.56. Marathon Petroleum Corporation has a 52 week low of $39.29 and a 52 week 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 Zacks’ consensus estimate of $1.04 by $0.01. The business had revenue of $18.35 billion for the quarter, compared to the consensus estimate of $19.98 billion. Marathon Petroleum Corporation had a net margin of 1.34% and a return on equity of 5.52%. The business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period last year, the firm posted $1.07 EPS. Analysts expect that Marathon Petroleum Corporation will post $2.75 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Wednesday, August 16th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.19%. 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. Marathon Petroleum Corporation’s payout ratio is 90.91%.

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Several analysts have recently weighed in on the company. Cowen and Company boosted their target price on Marathon Petroleum Corporation from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. Scotiabank set a $55.00 target price on Marathon Petroleum Corporation and gave the company a “hold” rating in a report on Tuesday, July 11th. BidaskClub raised Marathon Petroleum Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Zacks Investment Research downgraded Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and set a $62.00 price objective on shares of Marathon Petroleum Corporation in a research note on Thursday, May 25th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Marathon Petroleum Corporation has a consensus rating of “Buy” and a consensus price target of $58.62.

In related news, insider Thomas M. Kelley sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $54.33, for a total transaction of $1,358,250.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP C. Michael Palmer sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $53.25, for a total transaction of $213,000.00. Following the transaction, the vice president now owns 61,757 shares in the company, valued at approximately $3,288,560.25. The disclosure for this sale can be found here. 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.

Institutional Ownership by Quarter for Marathon Petroleum Corporation (NYSE:MPC)

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