Advisory Services Network LLC raised its position in shares of Marathon Petroleum Corp. (NYSE:MPC) by 7.7% during the second quarter, Holdings Channel reports. The firm owned 4,206 shares of the company’s stock after buying an additional 300 shares during the period. Advisory Services Network LLC’s holdings in Marathon Petroleum Corp. were worth $160,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Magnetar Financial LLC bought a new stake in Marathon Petroleum Corp. during the first quarter worth about $63,206,000. State Street Corp increased its stake in Marathon Petroleum Corp. by 4.3% in the first quarter. State Street Corp now owns 26,571,583 shares of the company’s stock worth $987,917,000 after buying an additional 1,091,661 shares during the period. Canada Pension Plan Investment Board increased its stake in Marathon Petroleum Corp. by 702.4% in the first quarter. Canada Pension Plan Investment Board now owns 964,042 shares of the company’s stock worth $35,843,000 after buying an additional 843,900 shares during the period. BlackRock Fund Advisors increased its stake in Marathon Petroleum Corp. by 9.7% in the first quarter. BlackRock Fund Advisors now owns 7,983,567 shares of the company’s stock worth $296,829,000 after buying an additional 704,302 shares during the period. Finally, AMF Pensionsforsakring AB increased its stake in Marathon Petroleum Corp. by 40.4% in the first quarter. AMF Pensionsforsakring AB now owns 1,464,087 shares of the company’s stock worth $54,435,000 after buying an additional 420,951 shares during the period. 79.85% of the stock is currently owned by hedge funds and other institutional investors.
Marathon Petroleum Corp. (NYSE:MPC) traded up 1.68% during mid-day trading on Monday, hitting $42.47. 3,808,282 shares of the stock were exchanged. The stock has a market cap of $22.46 billion, a price-to-earnings ratio of 11.72 and a beta of 2.06. Marathon Petroleum Corp. has a 52-week low of $29.24 and a 52-week high of $59.99. The stock has a 50 day moving average of $42.25 and a 200-day moving average of $38.69.
Marathon Petroleum Corp. (NYSE:MPC) last posted its earnings results on Thursday, July 28th. The company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.10. The firm earned $16.81 billion during the quarter, compared to the consensus estimate of $16.30 billion. Marathon Petroleum Corp. had a return on equity of 10.94% and a net margin of 3.02%. The company’s quarterly revenue was down 18.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.51 EPS. Equities analysts predict that Marathon Petroleum Corp. will post $2.41 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Wednesday, August 17th were given a $0.36 dividend. The ex-dividend date of this dividend was Monday, August 15th. This is an increase from Marathon Petroleum Corp.’s previous quarterly dividend of $0.32. This represents a $1.44 dividend on an annualized basis and a yield of 3.39%. Marathon Petroleum Corp.’s dividend payout ratio (DPR) is currently 39.78%.
MPC has been the subject of several recent analyst reports. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Marathon Petroleum Corp. in a research note on Saturday, July 9th. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Marathon Petroleum Corp. in a research note on Sunday, June 12th. Credit Suisse Group AG reaffirmed an “outperform” rating on shares of Marathon Petroleum Corp. in a research note on Sunday, September 4th. Zacks Investment Research cut shares of Marathon Petroleum Corp. from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 13th. Finally, Vetr cut shares of Marathon Petroleum Corp. from a “strong-buy” rating to a “buy” rating and set a $42.00 price objective for the company. in a research note on Tuesday, July 19th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $53.05.
Marathon Petroleum Corp. Company Profile
Marathon Petroleum Corporation is engaged in petroleum product refining, marketing, retail and transportation businesses in the United States and the east of the Mississippi. The Company’s segments include Refining & Marketing, Speedway, and Midstream. Its Refining & Marketing segment refines crude oil and other feedstocks at its approximately seven refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products.
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