Segantii Capital Management Ltd bought a new position in Marathon Petroleum Corp (NYSE:MPC) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 35,000 shares of the oil and gas company’s stock, valued at approximately $1,956,000.
Other hedge funds have also recently modified their holdings of the company. Squar Milner Financial Services LLC lifted its holdings in shares of Marathon Petroleum by 7.7% during the first quarter. Squar Milner Financial Services LLC now owns 2,353 shares of the oil and gas company’s stock valued at $140,000 after acquiring an additional 168 shares during the period. Accurate Investment Solutions Inc. lifted its holdings in shares of Marathon Petroleum by 4.1% during the first quarter. Accurate Investment Solutions Inc. now owns 4,370 shares of the oil and gas company’s stock valued at $262,000 after acquiring an additional 173 shares during the period. LS Investment Advisors LLC lifted its holdings in shares of Marathon Petroleum by 0.7% during the first quarter. LS Investment Advisors LLC now owns 26,169 shares of the oil and gas company’s stock valued at $1,566,000 after acquiring an additional 188 shares during the period. Unison Advisors LLC increased its stake in shares of Marathon Petroleum by 0.9% in the second quarter. Unison Advisors LLC now owns 22,197 shares of the oil and gas company’s stock valued at $1,240,000 after buying an additional 191 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in shares of Marathon Petroleum by 2.3% in the first quarter. Parallel Advisors LLC now owns 8,721 shares of the oil and gas company’s stock valued at $522,000 after buying an additional 194 shares in the last quarter. 77.45% of the stock is owned by hedge funds and other institutional investors.
In related news, Director James E. Rohr bought 12,500 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was bought at an average cost of $48.14 per share, for a total transaction of $601,750.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Donald C. Templin bought 5,000 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were bought at an average price of $50.74 per share, with a total value of $253,700.00. Following the completion of the transaction, the insider now directly owns 93,182 shares in the company, valued at approximately $4,728,054.68. The disclosure for this purchase can be found here. 1.06% of the stock is currently owned by insiders.
Shares of Marathon Petroleum stock traded down $1.74 during trading on Friday, hitting $53.62. 5,093,602 shares of the company were exchanged, compared to its average volume of 4,239,887. The company has a market capitalization of $37.37 billion, a price-to-earnings ratio of 7.91, a P/E/G ratio of 1.56 and a beta of 1.68. Marathon Petroleum Corp has a 1-year low of $45.47 and a 1-year high of $88.45. The stock has a fifty day moving average price of $54.18. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.20 and a quick ratio of 0.55.
Marathon Petroleum (NYSE:MPC) last posted its earnings results on Thursday, August 1st. The oil and gas company reported $1.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.40. The company had revenue of $33.70 billion during the quarter, compared to analyst estimates of $33.26 billion. Marathon Petroleum had a return on equity of 11.10% and a net margin of 2.56%. The company’s revenue for the quarter was up 50.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.27 EPS. Sell-side analysts predict that Marathon Petroleum Corp will post 4.23 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $2.12 annualized dividend and a dividend yield of 3.95%. Marathon Petroleum’s payout ratio is currently 31.27%.
A number of brokerages have recently weighed in on MPC. ValuEngine upgraded Marathon Petroleum from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 22nd. Royal Bank of Canada lowered their price objective on Marathon Petroleum from $71.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. Wells Fargo & Co lowered their price objective on Marathon Petroleum from $96.00 to $90.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. Cowen lowered Marathon Petroleum from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $90.00 to $65.00 in a research report on Friday, May 10th. Finally, Morgan Stanley lowered their price objective on Marathon Petroleum from $82.00 to $75.00 and set an “overweight” rating for the company in a research report on Friday, May 17th. Two analysts have rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Marathon Petroleum presently has an average rating of “Buy” and an average price target of $82.62.
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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