Rampart Investment Management Company LLC grew its holdings in Marathon Petroleum Corp (NYSE:MPC) by 2.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 44,887 shares of the oil and gas company’s stock after purchasing an additional 860 shares during the quarter. Rampart Investment Management Company LLC’s holdings in Marathon Petroleum were worth $3,149,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of MPC. Wells Fargo & Company MN boosted its position in Marathon Petroleum by 44.1% during the first quarter. Wells Fargo & Company MN now owns 2,002,582 shares of the oil and gas company’s stock valued at $146,410,000 after purchasing an additional 612,420 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its position in Marathon Petroleum by 30.4% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 15,070 shares of the oil and gas company’s stock valued at $1,102,000 after purchasing an additional 3,515 shares during the last quarter. Alps Advisors Inc. acquired a new position in Marathon Petroleum during the first quarter valued at approximately $508,000. Oppenheimer & Co. Inc. boosted its position in Marathon Petroleum by 33.4% during the first quarter. Oppenheimer & Co. Inc. now owns 18,383 shares of the oil and gas company’s stock valued at $1,343,000 after purchasing an additional 4,602 shares during the last quarter. Finally, Atria Investments LLC boosted its position in Marathon Petroleum by 20.0% during the first quarter. Atria Investments LLC now owns 13,793 shares of the oil and gas company’s stock valued at $1,008,000 after purchasing an additional 2,301 shares during the last quarter. 82.75% of the stock is owned by institutional investors and hedge funds.
MPC has been the subject of a number of recent analyst reports. Zacks Investment Research cut Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Monday, July 16th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Marathon Petroleum in a research report on Monday, August 27th. 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. Bank of America raised 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. Finally, Mizuho initiated coverage on Marathon Petroleum in a research report on Wednesday, August 1st. They issued a “buy” rating and a $95.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Marathon Petroleum has an average rating of “Buy” and an average target price of $85.94.
MPC opened at $83.94 on Thursday. Marathon Petroleum Corp has a 12-month low of $51.49 and a 12-month high of $85.08. The company has a market capitalization of $37.11 billion, a PE ratio of 22.09, a price-to-earnings-growth ratio of 1.36 and a beta of 1.42. 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 announced its earnings results on Thursday, July 26th. The oil and gas company reported $2.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.98 by $0.29. The company had revenue of $22.45 billion for the quarter, compared to analyst estimates of $22.14 billion. Marathon Petroleum had a return on equity of 12.83% and a net margin of 4.89%. The firm’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.93 earnings per share. equities research analysts anticipate that Marathon Petroleum Corp will post 5.11 earnings per share for the current fiscal year.
The company also recently announced 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. The ex-dividend date is Wednesday, August 15th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.19%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 48.42%.
Marathon Petroleum Profile
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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