IFP Advisors Inc raised its position in Marathon Petroleum Corp (NYSE:MPC) by 15.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 23,376 shares of the oil and gas company’s stock after purchasing an additional 3,191 shares during the period. IFP Advisors Inc’s holdings in Marathon Petroleum were worth $1,640,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of MPC. HL Financial Services LLC grew its position in Marathon Petroleum by 272.1% in the 1st quarter. HL Financial Services LLC now owns 82,426 shares of the oil and gas company’s stock worth $6,026,000 after purchasing an additional 60,277 shares in the last quarter. Hennessy Advisors Inc. bought a new stake in Marathon Petroleum in the 1st quarter worth about $10,521,000. Wells Fargo & Company MN grew its position 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 purchasing an additional 612,420 shares in the last quarter. Daiwa Securities Group Inc. grew its position in Marathon Petroleum by 49.1% in the 1st quarter. Daiwa Securities Group Inc. now owns 50,909 shares of the oil and gas company’s stock worth $3,722,000 after purchasing an additional 16,774 shares in the last quarter. Finally, Morse Asset Management Inc grew its position in Marathon Petroleum by 14.2% in the 1st quarter. Morse Asset Management Inc now owns 44,985 shares of the oil and gas company’s stock worth $3,289,000 after purchasing an additional 5,585 shares in the last quarter. 81.25% of the stock is currently owned by institutional investors.
MPC has been the subject of a number of recent analyst reports. Bank of America raised shares of Marathon Petroleum from a “neutral” rating to a “buy” rating and set a $88.00 price objective for the company in a research report on Thursday, May 10th. Jefferies Financial Group raised shares of Marathon Petroleum from a “hold” rating to a “buy” rating and upped their price objective for the stock from $75.00 to $95.00 in a research report on Thursday, May 3rd. Zacks Investment Research raised shares of Marathon Petroleum from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research report on Sunday, July 15th. ValuEngine downgraded shares of Marathon Petroleum from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 6th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $87.00 price objective on shares of Marathon Petroleum in a research report on Friday, July 27th. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $85.47.
Marathon Petroleum stock opened at $77.11 on Friday. Marathon Petroleum Corp has a twelve month low of $49.30 and a twelve month high of $83.33. The company has a market cap of $36.50 billion, a PE ratio of 20.29, a P/E/G ratio of 1.34 and a beta of 1.40. The company has a quick ratio of 1.04, a current ratio of 1.60 and a debt-to-equity ratio of 0.92.
Marathon Petroleum (NYSE:MPC) last released its earnings results on Thursday, July 26th. The oil and gas company reported $2.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.98 by $0.29. Marathon Petroleum had a net margin of 4.89% and a return on equity of 12.83%. The firm had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.14 billion. During the same period in the prior year, the firm earned $0.93 EPS. The company’s revenue was up 22.3% compared to the same quarter last year. equities analysts expect that Marathon Petroleum Corp will post 5.12 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Thursday, August 16th will be given 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 is currently 48.42%.
In other news, insider Thomas M. Kelley sold 24,818 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 51,869 shares of the company’s stock, valued at approximately $4,122,029.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.09% of the stock is owned by corporate 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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