Cadence Capital Management LLC decreased its position in Marathon Petroleum Corp (NYSE:MPC) by 5.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 75,189 shares of the oil and gas company’s stock after selling 4,214 shares during the quarter. Cadence Capital Management LLC’s holdings in Marathon Petroleum were worth $6,013,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently modified their holdings of MPC. Clinton Group Inc. purchased a new stake in shares of Marathon Petroleum in the second quarter valued at about $1,379,000. IFM Investors Pty Ltd boosted its holdings in Marathon Petroleum by 42.7% during the second quarter. IFM Investors Pty Ltd now owns 21,773 shares of the oil and gas company’s stock worth $1,528,000 after buying an additional 6,510 shares in the last quarter. CENTRAL TRUST Co boosted its holdings in Marathon Petroleum by 6.7% during the second quarter. CENTRAL TRUST Co now owns 16,195 shares of the oil and gas company’s stock worth $1,136,000 after buying an additional 1,021 shares in the last quarter. Farmers Trust Co. purchased a new stake in Marathon Petroleum during the second quarter worth about $706,000. Finally, Cullinan Associates Inc. boosted its holdings in Marathon Petroleum by 10.9% during the second quarter. Cullinan Associates Inc. now owns 83,526 shares of the oil and gas company’s stock worth $5,860,000 after buying an additional 8,200 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.
NYSE:MPC opened at $69.49 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.60 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $31.34 billion, a PE ratio of 18.29, a PEG ratio of 0.95 and a beta of 1.50. Marathon Petroleum Corp has a 1-year low of $60.10 and a 1-year high of $88.45.
Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Thursday, November 1st. The oil and gas company reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.02. The business had revenue of $23.13 billion during the quarter, compared to analyst estimates of $23.20 billion. Marathon Petroleum had a net margin of 4.48% and a return on equity of 12.21%. The company’s revenue was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.77 earnings per share. Research analysts anticipate that Marathon Petroleum Corp will post 5.13 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Wednesday, November 21st will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend is Tuesday, November 20th. Marathon Petroleum’s dividend payout ratio is presently 48.42%.
A number of analysts recently commented on the stock. Citigroup boosted their price objective on shares of Marathon Petroleum from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, September 7th. Tudor Pickering raised shares of Marathon Petroleum from a “hold” rating to a “buy” rating in a report on Thursday, October 11th. Morgan Stanley set a $110.00 price objective on shares of Marathon Petroleum and gave the stock a “buy” rating in a report on Friday, October 12th. Zacks Investment Research downgraded shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a report on Tuesday, September 11th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Marathon Petroleum from $98.00 to $102.00 and gave the stock an “overweight” rating in a report on Friday, July 27th. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $92.38.
Marathon Petroleum Profile
Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.
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