Reaves W H & Co. Inc. decreased its stake in shares of Marathon Petroleum Corp (NYSE:MPC) by 0.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 235,106 shares of the oil and gas company’s stock after selling 1,695 shares during the quarter. Reaves W H & Co. Inc.’s holdings in Marathon Petroleum were worth $18,801,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. Polaris Greystone Financial Group LLC increased its holdings in shares of Marathon Petroleum by 40,590.6% during the 3rd quarter. Polaris Greystone Financial Group LLC now owns 310,062 shares of the oil and gas company’s stock worth $24,796,000 after purchasing an additional 309,300 shares during the period. Cypress Capital Group increased its holdings in shares of Marathon Petroleum by 184.3% during the 2nd quarter. Cypress Capital Group now owns 27,957 shares of the oil and gas company’s stock worth $1,961,000 after purchasing an additional 18,124 shares during the period. Cozad Asset Management Inc. bought a new position in shares of Marathon Petroleum during the 2nd quarter worth about $694,000. WINTON GROUP Ltd increased its holdings in shares of Marathon Petroleum by 8.4% during the 2nd quarter. WINTON GROUP Ltd now owns 135,374 shares of the oil and gas company’s stock worth $9,498,000 after purchasing an additional 10,529 shares during the period. Finally, Zweig DiMenna Associates LLC bought a new position in shares of Marathon Petroleum during the 3rd quarter worth about $17,824,000. Institutional investors own 83.16% of the company’s stock.
Shares of Marathon Petroleum stock traded up $0.81 during trading on Wednesday, hitting $64.98. 592,779 shares of the company’s stock traded hands, compared to its average volume of 7,258,237. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.09 and a current ratio of 1.65. Marathon Petroleum Corp has a twelve month low of $60.10 and a twelve month high of $88.45. The firm has a market cap of $45.53 billion, a P/E ratio of 17.10, a price-to-earnings-growth ratio of 0.90 and a beta of 1.50.
Marathon Petroleum (NYSE:MPC) last issued its earnings results on Thursday, November 1st. The oil and gas company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.02. Marathon Petroleum had a net margin of 4.48% and a return on equity of 12.28%. The business had revenue of $23.13 billion for the quarter, compared to analyst estimates of $23.20 billion. During the same period in the previous year, the business earned $1.77 EPS. The firm’s revenue was up 19.3% on a year-over-year basis. On average, equities analysts forecast that Marathon Petroleum Corp will post 5.16 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Wednesday, November 21st will be given a dividend of $0.46 per share. The ex-dividend date is Tuesday, November 20th. This represents a $1.84 annualized dividend and a dividend yield of 2.83%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 48.42%.
Several research analysts have recently issued reports on MPC shares. Zacks Investment Research upgraded shares of Marathon Petroleum from a “hold” rating to a “buy” rating and set a $94.00 price objective on the stock in a report on Monday, August 27th. Morgan Stanley set a $110.00 price objective on shares of Marathon Petroleum and gave the stock a “buy” rating in a report on Friday, October 12th. Barclays started coverage on shares of Marathon Petroleum in a report on Wednesday, October 3rd. They set an “overweight” rating and a $125.00 price objective on the stock. Citigroup lifted their target price on shares of Marathon Petroleum from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, October 16th. Finally, ValuEngine lowered shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $92.38.
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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