Sei Investments Co. lowered its stake in Marathon Petroleum Corporation (NYSE:MPC) by 0.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 512,817 shares of the oil and gas company’s stock after selling 4,467 shares during the period. Sei Investments Co. owned approximately 0.10% of Marathon Petroleum Corporation worth $28,760,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in MPC. Blue Chip Partners Inc. acquired a new stake in shares of Marathon Petroleum Corporation in the second quarter worth about $100,000. Lee Financial Co lifted its position in shares of Marathon Petroleum Corporation by 2.4% in the second quarter. Lee Financial Co now owns 2,048 shares of the oil and gas company’s stock worth $107,000 after buying an additional 48 shares during the last quarter. Jacobi Capital Management LLC lifted its position in shares of 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 worth $116,000 after buying an additional 570 shares during the last quarter. First Interstate Bank lifted its position in shares of Marathon Petroleum Corporation by 81.1% in the second quarter. First Interstate Bank now owns 2,376 shares of the oil and gas company’s stock worth $124,000 after buying an additional 1,064 shares during the last quarter. Finally, Crow Point Partners LLC acquired a new stake in shares of Marathon Petroleum Corporation in the third quarter worth about $128,000. 81.28% of the stock is owned by institutional investors.
A number of brokerages have weighed in on MPC. Zacks Investment Research raised Marathon Petroleum Corporation from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a research report on Friday. Citigroup Inc. boosted their price target on Marathon Petroleum Corporation from $67.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Cowen and Company reissued a “buy” rating and set a $60.00 price objective on shares of Marathon Petroleum Corporation in a research report on Tuesday, October 17th. Barclays PLC reissued an “overweight” rating and set a $63.00 price objective (up previously from $62.00) on shares of Marathon Petroleum Corporation in a research report on Tuesday, October 10th. Finally, Edward Jones raised Marathon Petroleum Corporation from a “hold” rating to a “buy” rating in a research report on Friday, October 6th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $62.64.
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Marathon Petroleum Corporation (MPC) traded up $0.06 during trading on Friday, reaching $61.72. The company’s stock had a trading volume of 3,220,100 shares, compared to its average volume of 4,138,471. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.80 and a current ratio of 1.52. The firm has a market cap of $30,144.79, a PE ratio of 18.76, a price-to-earnings-growth ratio of 1.57 and a beta of 1.59. Marathon Petroleum Corporation has a 12-month low of $42.57 and a 12-month high of $63.41.
Marathon Petroleum Corporation (NYSE:MPC) last posted its quarterly earnings results on Thursday, October 26th. The oil and gas company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.48 by $0.29. The firm had revenue of $19.36 billion during the quarter, compared to analysts’ expectations of $19.38 billion. Marathon Petroleum Corporation had a return on equity of 8.52% and a net margin of 2.35%. The company’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.58 EPS. sell-side analysts expect that Marathon Petroleum Corporation will post 3.59 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Thursday, November 16th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $1.60 annualized dividend and a yield of 2.59%. Marathon Petroleum Corporation’s dividend payout ratio (DPR) is 49.08%.
In other news, VP C. Michael Palmer sold 11,450 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $53.02, for a total value of $607,079.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Anthony R. Kenney sold 77,578 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $62.35, for a total value of $4,836,988.30. The disclosure for this sale can be found here. Corporate insiders own 1.05% of the company’s stock.
Marathon Petroleum Corporation 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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