Globeflex Capital L P reduced its stake in Marathon Petroleum Corp (NYSE:MPC) by 10.2% during the first quarter, according to its most recent filing with the SEC. The fund owned 2,245 shares of the oil and gas company’s stock after selling 254 shares during the quarter. Globeflex Capital L P’s holdings in Marathon Petroleum were worth $134,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Hanson McClain Inc. purchased a new stake in Marathon Petroleum in the fourth quarter worth approximately $25,000. Alpha Omega Wealth Management LLC boosted its stake in Marathon Petroleum by 135.1% in the first quarter. Alpha Omega Wealth Management LLC now owns 435 shares of the oil and gas company’s stock worth $26,000 after buying an additional 250 shares in the last quarter. Certified Advisory Corp boosted its stake in Marathon Petroleum by 71.2% in the fourth quarter. Certified Advisory Corp now owns 476 shares of the oil and gas company’s stock worth $28,000 after buying an additional 198 shares in the last quarter. SeaBridge Investment Advisors LLC purchased a new stake in Marathon Petroleum in the fourth quarter worth approximately $30,000. Finally, Berman Capital Advisors LLC purchased a new stake in Marathon Petroleum in the fourth quarter worth approximately $30,000. 77.44% of the stock is currently owned by institutional investors.
MPC has been the subject of several research reports. Citigroup cut their target price on Marathon Petroleum from $91.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, March 4th. Cowen lowered Marathon Petroleum from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $90.00 to $65.00 in a research note on Friday, May 10th. Royal Bank of Canada dropped their price objective on Marathon Petroleum from $71.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. Wells Fargo & Co dropped their price objective on Marathon Petroleum from $96.00 to $90.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. Finally, Credit Suisse Group dropped their price objective on Marathon Petroleum from $95.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, May 13th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $85.68.
Shares of NYSE:MPC traded up $2.82 on Wednesday, hitting $54.21. 8,505,852 shares of the company traded hands, compared to its average volume of 6,960,780. Marathon Petroleum Corp has a 52 week low of $45.47 and a 52 week high of $88.45. The company has a current ratio of 1.20, a quick ratio of 0.55 and a debt-to-equity ratio of 0.69. The business has a 50 day moving average price of $50.07. The company has a market capitalization of $34.19 billion, a P/E ratio of 8.00, a PEG ratio of 1.31 and a beta of 1.52.
Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Wednesday, May 8th. The oil and gas company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.10). Marathon Petroleum had a net margin of 2.56% and a return on equity of 11.10%. The company had revenue of $28.62 billion for the quarter, compared to the consensus estimate of $27.70 billion. During the same quarter in the previous year, the business earned $0.08 earnings per share. Marathon Petroleum’s revenue was up 50.7% compared to the same quarter last year. On average, equities analysts anticipate that Marathon Petroleum Corp will post 4.59 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Thursday, May 16th were given a $0.53 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $2.12 annualized dividend and a yield of 3.91%. Marathon Petroleum’s payout ratio is 31.27%.
In other Marathon Petroleum news, insider Donald C. Templin purchased 5,000 shares of the stock in a transaction on Wednesday, May 15th. The shares were bought at an average price of $50.74 per share, for a total transaction of $253,700.00. Following the completion of the transaction, the insider now owns 93,182 shares of the company’s stock, valued at approximately $4,728,054.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James E. Rohr purchased 12,500 shares of the stock in a transaction on Tuesday, June 11th. The shares were acquired at an average price of $48.14 per share, for a total transaction of $601,750.00. The disclosure for this purchase can be found here. Company insiders own 1.06% of the company’s stock.
Marathon Petroleum Profile
Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing; Retail; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals and trucks that the company owns or operates.
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