Cypress Capital Group lifted its position in Marathon Petroleum Corp (NYSE:MPC) by 184.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 27,957 shares of the oil and gas company’s stock after acquiring an additional 18,124 shares during the quarter. Cypress Capital Group’s holdings in Marathon Petroleum were worth $1,961,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently bought and sold shares of MPC. Wells Fargo & Company MN increased its holdings in Marathon Petroleum by 44.1% in the 1st quarter. Wells Fargo & Company MN now owns 2,002,582 shares of the oil and gas company’s stock worth $146,410,000 after acquiring an additional 612,420 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Marathon Petroleum by 21.2% during the first quarter. Victory Capital Management Inc. now owns 183,060 shares of the oil and gas company’s stock worth $13,384,000 after purchasing an additional 32,002 shares in the last quarter. Financial Gravity Wealth Inc. acquired a new stake in shares of Marathon Petroleum during the first quarter worth about $470,000. Chicago Equity Partners LLC lifted its position in shares of Marathon Petroleum by 40.3% during the first quarter. Chicago Equity Partners LLC now owns 12,025 shares of the oil and gas company’s stock worth $879,000 after purchasing an additional 3,455 shares in the last quarter. Finally, Signaturefd LLC acquired a new stake in shares of Marathon Petroleum during the first quarter worth about $153,000. Hedge funds and other institutional investors own 82.80% of the company’s stock.
Shares of MPC opened at $84.34 on Monday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.60. The company has a market cap of $37.97 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 1.37 and a beta of 1.42. Marathon Petroleum Corp has a 12-month low of $52.26 and a 12-month high of $85.34.
Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Thursday, July 26th. The oil and gas company reported $2.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.98 by $0.29. Marathon Petroleum had a return on equity of 12.83% and a net margin of 4.89%. The firm had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.14 billion. During the same period last year, the company earned $0.93 earnings per share. The company’s revenue for the quarter was up 22.3% on a year-over-year basis. analysts anticipate that Marathon Petroleum Corp will post 5.2 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 10th. Investors of record on Thursday, August 16th were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend was Wednesday, August 15th. Marathon Petroleum’s dividend payout ratio is presently 48.42%.
Several analysts have recently issued reports on MPC shares. Zacks Investment Research cut shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Tuesday, August 21st. Mizuho started coverage on shares of Marathon Petroleum in a research report on Wednesday, August 1st. They set a “buy” rating and a $95.00 price target on the stock. Royal Bank of Canada reissued a “buy” rating and set a $87.00 price target on shares of Marathon Petroleum in a research report on Friday, July 27th. Wells Fargo & Co raised shares of Marathon Petroleum from a “market perform” rating to an “outperform” rating and reduced their price target for the stock from $83.27 to $80.00 in a research report on Tuesday, May 29th. Finally, JPMorgan Chase & Co. increased their price target on shares of Marathon Petroleum from $98.00 to $102.00 and gave the stock an “overweight” rating in a research report on Friday, July 27th. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $87.12.
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, Speedway 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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