Legal & General Group Plc Has $168.79 Million Position in Marathon Petroleum Corp (MPC)

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Legal & General Group Plc decreased its position in shares of Marathon Petroleum Corp (NYSE:MPC) by 8.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 2,405,467 shares of the oil and gas company’s stock after selling 220,427 shares during the period. Legal & General Group Plc’s holdings in Marathon Petroleum were worth $168,785,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MPC. Greenleaf Trust lifted its stake in Marathon Petroleum by 10.1% in the 2nd quarter. Greenleaf Trust now owns 6,953 shares of the oil and gas company’s stock valued at $488,000 after purchasing an additional 635 shares during the last quarter. D.A. Davidson & CO. lifted its stake in Marathon Petroleum by 4.3% in the 1st quarter. D.A. Davidson & CO. now owns 16,622 shares of the oil and gas company’s stock valued at $1,215,000 after purchasing an additional 688 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Marathon Petroleum by 1.4% in the 2nd quarter. Janney Montgomery Scott LLC now owns 51,889 shares of the oil and gas company’s stock valued at $3,641,000 after purchasing an additional 692 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in Marathon Petroleum by 63.8% in the 1st quarter. Quadrant Capital Group LLC now owns 1,787 shares of the oil and gas company’s stock valued at $120,000 after purchasing an additional 696 shares during the last quarter. Finally, Gyroscope Capital Management Group LLC lifted its stake in Marathon Petroleum by 15.5% in the 1st quarter. Gyroscope Capital Management Group LLC now owns 5,248 shares of the oil and gas company’s stock valued at $384,000 after purchasing an additional 706 shares during the last quarter. Institutional investors and hedge funds own 82.75% of the company’s stock.

Several brokerages recently commented on MPC. Zacks Investment Research downgraded shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Tuesday, August 21st. Jefferies Financial Group raised shares of Marathon Petroleum from a “hold” rating to a “buy” rating and increased their price objective for the company from $75.00 to $95.00 in a research note on Thursday, May 3rd. Mizuho began coverage on shares of Marathon Petroleum in a research note on Wednesday, August 1st. They issued a “buy” rating and a $95.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on shares of Marathon Petroleum from $98.00 to $102.00 and gave the company an “overweight” rating in a research note on Friday, July 27th. Finally, 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 note on Thursday, May 10th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Marathon Petroleum currently has an average rating of “Buy” and a consensus price target of $85.94.

MPC stock opened at $83.72 on Thursday. The firm has a market cap of $37.74 billion, a PE ratio of 22.03, a price-to-earnings-growth ratio of 1.38 and a beta of 1.40. Marathon Petroleum Corp has a 52-week low of $50.52 and a 52-week high of $84.79. 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 quarterly earnings results on Thursday, July 26th. The oil and gas company reported $2.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.98 by $0.29. The firm had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.14 billion. Marathon Petroleum had a net margin of 4.89% and a return on equity of 12.83%. The company’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.93 earnings per share. research analysts predict that Marathon Petroleum Corp will post 5.13 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Thursday, August 16th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Wednesday, August 15th. Marathon Petroleum’s payout ratio is currently 48.42%.

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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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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