Chemical Bank Has $1.40 Million Position in Marathon Petroleum Corp (MPC)

Chemical Bank reduced its holdings in Marathon Petroleum Corp (NYSE:MPC) by 29.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 21,203 shares of the oil and gas company’s stock after selling 8,702 shares during the quarter. Chemical Bank’s holdings in Marathon Petroleum were worth $1,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its stake in Marathon Petroleum by 0.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,103,034 shares of the oil and gas company’s stock valued at $342,221,000 after purchasing an additional 35,033 shares in the last quarter. Geode Capital Management LLC boosted its stake in Marathon Petroleum by 6.7% during the 4th quarter. Geode Capital Management LLC now owns 5,870,292 shares of the oil and gas company’s stock valued at $386,599,000 after purchasing an additional 367,650 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Marathon Petroleum by 9.9% during the 4th quarter. Bank of New York Mellon Corp now owns 5,209,413 shares of the oil and gas company’s stock valued at $343,716,000 after purchasing an additional 470,220 shares in the last quarter. Millennium Management LLC boosted its stake in Marathon Petroleum by 24.3% during the 4th quarter. Millennium Management LLC now owns 5,209,211 shares of the oil and gas company’s stock valued at $343,704,000 after purchasing an additional 1,019,354 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in Marathon Petroleum by 28.1% during the 4th quarter. Deutsche Bank AG now owns 4,208,375 shares of the oil and gas company’s stock valued at $277,664,000 after purchasing an additional 923,646 shares in the last quarter. Hedge funds and other institutional investors own 80.31% of the company’s stock.

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MPC has been the subject of a number of research reports. Royal Bank of Canada reaffirmed a “buy” rating and set a $89.00 price target on shares of Marathon Petroleum in a research note on Tuesday, January 30th. Credit Suisse Group initiated coverage on Marathon Petroleum in a research note on Wednesday, January 3rd. They set an “outperform” rating and a $83.00 price target for the company. UBS lowered Marathon Petroleum from a “buy” rating to a “neutral” rating and increased their price target for the company from $63.00 to $65.00 in a research note on Sunday, November 26th. ValuEngine raised Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. Finally, Goldman Sachs raised Marathon Petroleum from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 13th. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $80.07.

In other Marathon Petroleum news, Director Charles E. Bunch bought 1,500 shares of Marathon Petroleum stock in a transaction dated Tuesday, March 6th. The stock was bought at an average price of $67.38 per share, for a total transaction of $101,070.00. Following the completion of the acquisition, the director now directly owns 12,853 shares of the company’s stock, valued at $866,035.14. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Thomas M. Kelley sold 20,000 shares of the stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $69.77, for a total value of $1,395,400.00. The disclosure for this sale can be found here. 1.05% of the stock is owned by corporate insiders.

Shares of MPC stock opened at $71.28 on Friday. The firm has a market capitalization of $34,852.33, a price-to-earnings ratio of 10.30, a PEG ratio of 1.07 and a beta of 1.49. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.75 and a current ratio of 1.28. Marathon Petroleum Corp has a one year low of $47.78 and a one year high of $74.48.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Thursday, February 1st. The oil and gas company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.05. The business had revenue of $21.24 billion during the quarter, compared to analyst estimates of $17.27 billion. Marathon Petroleum had a return on equity of 9.90% and a net margin of 4.60%. The company’s revenue was up 22.9% compared to the same quarter last year. During the same period last year, the company posted $0.43 EPS. research analysts anticipate that Marathon Petroleum Corp will post 4.72 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, March 12th. Stockholders of record on Wednesday, February 21st were issued a $0.46 dividend. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.58%. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.40. Marathon Petroleum’s dividend payout ratio is presently 26.59%.

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

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