State of Alaska Department of Revenue increased its position in Marathon Petroleum Corporation (NYSE:MPC) by 27.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,851 shares of the oil and gas company’s stock after buying an additional 4,280 shares during the period. State of Alaska Department of Revenue’s holdings in Marathon Petroleum Corporation were worth $1,038,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of the company. Guardian Life Insurance Co. of America boosted 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 worth $103,000 after buying an additional 14 shares during the period. Capital Investment Advisors LLC boosted its stake in Marathon Petroleum Corporation by 0.3% in the second quarter. Capital Investment Advisors LLC now owns 6,420 shares of the oil and gas company’s stock worth $336,000 after buying an additional 19 shares during the period. Tarbox Group Inc. boosted 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 worth $122,000 after buying an additional 36 shares during the period. Cleararc Capital Inc. boosted its stake in Marathon Petroleum Corporation by 0.5% in the first quarter. Cleararc Capital Inc. now owns 12,888 shares of the oil and gas company’s stock worth $651,000 after buying an additional 65 shares during the period. Finally, Buckingham Asset Management LLC boosted its stake in Marathon Petroleum Corporation by 2.1% in the first quarter. Buckingham Asset Management LLC now owns 4,141 shares of the oil and gas company’s stock worth $209,000 after buying an additional 87 shares during the period. Hedge funds and other institutional investors own 81.36% of the company’s stock.
Marathon Petroleum Corporation (NYSE:MPC) traded up 0.82% on Friday, reaching $50.11. The company had a trading volume of 3,661,324 shares. The stock has a market capitalization of $25.37 billion, a P/E ratio of 29.88 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 firm has a 50-day moving average of $54.03 and a 200-day moving average of $51.70.
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 consensus estimate of $1.04 by $0.01. Marathon Petroleum Corporation had a net margin of 1.34% and a return on equity of 5.52%. The company had revenue of $18.35 billion during the quarter, compared to analyst estimates of $19.98 billion. During the same quarter in the prior year, the company posted $1.07 earnings per share. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, equities research analysts expect that Marathon Petroleum Corporation will post $2.75 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Wednesday, August 16th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, August 14th. This is an increase from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a dividend yield of 3.19%. Marathon Petroleum Corporation’s dividend payout ratio (DPR) is currently 90.91%.
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MPC has been the subject of a number of research analyst reports. Scotiabank reiterated a “hold” rating and issued a $54.00 price target on shares of Marathon Petroleum Corporation in a research note on Friday, April 28th. Credit Suisse Group reissued a “buy” rating and issued a $64.00 price objective on shares of Marathon Petroleum Corporation in a report on Friday, July 14th. BidaskClub raised Marathon Petroleum Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. Royal Bank Of Canada reissued a “buy” rating and issued a $69.00 price objective on shares of Marathon Petroleum Corporation in a report on Thursday, June 1st. Finally, US Capital Advisors reaffirmed a “buy” rating on shares of Marathon Petroleum Corporation in a report on Monday, May 22nd. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $58.62.
In related news, insider Thomas M. Kelley sold 25,000 shares of Marathon Petroleum Corporation stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $54.33, for a total value of $1,358,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP C. Michael Palmer sold 4,000 shares of Marathon Petroleum Corporation stock in a transaction dated Wednesday, May 24th. The stock was 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 $3,288,560.25. The disclosure for this sale can be found here. 1.05% of the stock is owned by company insiders.
Marathon Petroleum Corporation Company Profile
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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