Ironsides Asset Advisors LLC grew its stake in shares of Marathon Petroleum Corp (NYSE:MPC) by 74.0% during the second quarter, HoldingsChannel reports. The firm owned 26,575 shares of the oil and gas company’s stock after purchasing an additional 11,300 shares during the quarter. Marathon Petroleum accounts for approximately 0.5% of Ironsides Asset Advisors LLC’s holdings, making the stock its 29th biggest position. Ironsides Asset Advisors LLC’s holdings in Marathon Petroleum were worth $1,485,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in MPC. Alpha Omega Wealth Management LLC lifted its position in Marathon Petroleum by 135.1% during the 1st quarter. Alpha Omega Wealth Management LLC now owns 435 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 250 shares during the period. Wealthcare Advisory Partners LLC lifted its position in Marathon Petroleum by 345.6% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 508 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 394 shares during the period. Bay Harbor Wealth Management LLC purchased a new position in Marathon Petroleum during the 1st quarter valued at about $31,000. AllSquare Wealth Management LLC purchased a new position in Marathon Petroleum during the 1st quarter valued at about $32,000. Finally, CNB Bank lifted its position in Marathon Petroleum by 1,650.0% during the 1st quarter. CNB Bank now owns 560 shares of the oil and gas company’s stock valued at $50,000 after acquiring an additional 528 shares during the period. 76.94% of the stock is currently owned by hedge funds and other institutional investors.
Marathon Petroleum stock traded up $0.20 during trading hours on Thursday, hitting $44.83. The stock had a trading volume of 167,557 shares, compared to its average volume of 5,592,954. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.24 and a quick ratio of 0.63. The company has a market cap of $30.55 billion, a PE ratio of 6.63, a P/E/G ratio of 1.29 and a beta of 1.68. Marathon Petroleum Corp has a 12-month low of $44.27 and a 12-month high of $88.45. The stock has a 50-day simple moving average of $53.84.
Marathon Petroleum (NYSE:MPC) last issued its earnings results on Thursday, August 1st. The oil and gas company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.40. The business had revenue of $33.70 billion during the quarter, compared to analysts’ expectations of $33.26 billion. Marathon Petroleum had a net margin of 2.36% and a return on equity of 9.55%. The business’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 earnings per share. As a group, equities analysts forecast that Marathon Petroleum Corp will post 4.36 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be issued a $0.53 dividend. The ex-dividend date is Tuesday, August 20th. This represents a $2.12 annualized dividend and a yield of 4.73%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 31.27%.
A number of brokerages recently issued reports on MPC. Wells Fargo & Co lowered their price target on shares of Marathon Petroleum from $96.00 to $90.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. Morgan Stanley lowered their price target on shares of Marathon Petroleum from $82.00 to $75.00 and set an “overweight” rating for the company in a research report on Friday, May 17th. ValuEngine raised shares of Marathon Petroleum from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 22nd. Credit Suisse Group lowered their price target on shares of Marathon Petroleum from $95.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, May 13th. Finally, Zacks Investment Research cut shares of Marathon Petroleum from a “hold” rating to a “strong sell” rating in a research report on Friday, May 17th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. Marathon Petroleum has an average rating of “Buy” and an average price target of $82.62.
In other news, Director James E. Rohr bought 12,500 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was acquired at an average cost of $48.14 per share, with a total value of $601,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.06% of the stock is currently owned by insiders.
Marathon Petroleum Company 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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