Carret Asset Management LLC trimmed its holdings in shares of Marathon Petroleum Corp (NYSE:MPC) by 9.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,932 shares of the oil and gas company’s stock after selling 1,950 shares during the quarter. Carret Asset Management LLC’s holdings in Marathon Petroleum were worth $1,328,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the stock. Greenleaf Trust increased its holdings in Marathon Petroleum by 10.1% during the second quarter. Greenleaf Trust now owns 6,953 shares of the oil and gas company’s stock valued at $488,000 after buying an additional 635 shares during the period. D.A. Davidson & CO. increased its holdings in Marathon Petroleum by 4.3% during the first quarter. D.A. Davidson & CO. now owns 16,622 shares of the oil and gas company’s stock valued at $1,215,000 after buying an additional 688 shares during the period. Janney Montgomery Scott LLC increased its holdings in Marathon Petroleum by 1.4% during the second quarter. Janney Montgomery Scott LLC now owns 51,889 shares of the oil and gas company’s stock valued at $3,641,000 after buying an additional 692 shares during the period. Quadrant Capital Group LLC increased its holdings in Marathon Petroleum by 63.8% during the first quarter. Quadrant Capital Group LLC now owns 1,787 shares of the oil and gas company’s stock valued at $120,000 after buying an additional 696 shares during the period. Finally, Gyroscope Capital Management Group LLC increased its holdings in Marathon Petroleum by 15.5% during the first quarter. Gyroscope Capital Management Group LLC now owns 5,248 shares of the oil and gas company’s stock valued at $384,000 after buying an additional 706 shares during the period. 81.25% of the stock is currently owned by institutional investors.
Several equities analysts recently issued reports on the stock. Zacks Investment Research raised shares of Marathon Petroleum from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a report on Friday. Mizuho assumed coverage on shares of Marathon Petroleum in a report on Wednesday, August 1st. They issued a “buy” rating and a $95.00 price target on the stock. JPMorgan Chase & Co. lifted their price target 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. Royal Bank of Canada reaffirmed a “buy” rating and issued a $87.00 price target on shares of Marathon Petroleum in a report on Friday, July 27th. Finally, ValuEngine lowered shares of Marathon Petroleum from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 6th. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $85.47.
NYSE MPC opened at $77.11 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.60. Marathon Petroleum Corp has a 12-month low of $49.30 and a 12-month high of $83.33. The firm has a market capitalization of $36.50 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 1.34 and a beta of 1.40.
Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Thursday, July 26th. The oil and gas company reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.29. The firm had revenue of $22.45 billion for the quarter, compared to analyst estimates of $22.14 billion. Marathon Petroleum had a net margin of 4.89% and a return on equity of 12.83%. The business’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.93 earnings per share. sell-side analysts anticipate that Marathon Petroleum Corp will post 5.12 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Thursday, August 16th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend is Wednesday, August 15th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 48.42%.
In other news, insider Thomas M. Kelley sold 24,818 shares of the business’s stock in a transaction on Wednesday, May 30th. The shares were sold at an average price of $79.47, for a total transaction of $1,972,286.46. Following the sale, the insider now directly owns 51,869 shares of the company’s stock, valued at $4,122,029.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.09% of the stock is owned by insiders.
About Marathon Petroleum
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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