Henderson Group PLC lowered its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 20.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,373 shares of the oil and gas company’s stock after selling 17,494 shares during the period. Henderson Group PLC’s holdings in Marathon Petroleum Corporation were worth $3,355,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of MPC. Compagnie Lombard Odier SCmA raised its position in Marathon Petroleum Corporation by 6.1% in the third quarter. Compagnie Lombard Odier SCmA now owns 62,345 shares of the oil and gas company’s stock valued at $2,529,000 after buying an additional 3,587 shares during the period. Zacks Investment Management raised its position in Marathon Petroleum Corporation by 8.7% in the third quarter. Zacks Investment Management now owns 467,275 shares of the oil and gas company’s stock valued at $18,967,000 after buying an additional 37,538 shares during the period. Incline Global Management LLC bought a new position in Marathon Petroleum Corporation during the third quarter valued at approximately $492,000. Zweig DiMenna Associates LLC bought a new position in Marathon Petroleum Corporation during the third quarter valued at approximately $219,000. Finally, Princeton Alpha Management LP bought a new position in Marathon Petroleum Corporation during the third quarter valued at approximately $3,797,000. 79.96% of the stock is owned by institutional investors.
Marathon Petroleum Corporation (MPC) traded down 2.65% during midday trading on Tuesday, reaching $52.85. The company’s stock had a trading volume of 4,838,603 shares. Marathon Petroleum Corporation has a 52-week low of $32.84 and a 52-week high of $55.20. The stock has a market capitalization of $27.42 billion, a price-to-earnings ratio of 23.30 and a beta of 1.67. The firm has a 50-day moving average price of $52.63 and a 200 day moving average price of $50.46.
Marathon Petroleum Corporation (NYSE:MPC) last issued its quarterly earnings results on Thursday, April 27th. The oil and gas company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.07. The business had revenue of $16.39 billion during the quarter, compared to analyst estimates of $19.03 billion. Marathon Petroleum Corporation had a net margin of 1.80% and a return on equity of 5.68%. Marathon Petroleum Corporation’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.07 earnings per share. Equities research analysts predict that Marathon Petroleum Corporation will post $2.97 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, June 12th. Investors of record on Wednesday, May 17th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend was Monday, May 15th. Marathon Petroleum Corporation’s dividend payout ratio is currently 63.44%.
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Several equities analysts have recently commented on the company. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $62.00 target price on shares of Marathon Petroleum Corporation in a report on Thursday, May 25th. US Capital Advisors reiterated a “buy” rating on shares of Marathon Petroleum Corporation in a research report on Monday, May 22nd. Royal Bank Of Canada reiterated a “buy” rating and set a $69.00 price objective on shares of Marathon Petroleum Corporation in a research report on Thursday, June 1st. Credit Suisse Group reiterated a “buy” rating and set a $63.00 price objective on shares of Marathon Petroleum Corporation in a research report on Friday, March 3rd. Finally, Scotiabank reiterated a “hold” rating and set a $54.00 price objective on shares of Marathon Petroleum Corporation in a research report on Friday, April 28th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $58.50.
In related news, insider Thomas M. Kelley sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $54.33, for a total value of $1,358,250.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP C. Michael Palmer sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $53.25, for a total transaction of $213,000.00. Following the completion of the sale, the vice president now directly owns 61,757 shares of the company’s stock, valued at approximately $3,288,560.25. The disclosure for this sale can be found here. In the last three months, insiders sold 33,568 shares of company stock valued at $1,808,969. 1.05% of the stock is currently owned by company insiders.
Marathon Petroleum Corporation Company Profile
Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.
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