Seven Eight Capital LP Boosts Position in Marathon Petroleum Corporation (MPC)

Seven Eight Capital LP increased its stake in Marathon Petroleum Corporation (NYSE:MPC) by 1,562.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 110,016 shares of the oil and gas company’s stock after purchasing an additional 103,400 shares during the quarter. Marathon Petroleum Corporation makes up approximately 0.8% of Seven Eight Capital LP’s portfolio, making the stock its 21st biggest holding. Seven Eight Capital LP’s holdings in Marathon Petroleum Corporation were worth $5,757,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Symphony Asset Management LLC bought a new stake in shares of Marathon Petroleum Corporation in the 2nd quarter worth approximately $350,000. Riverhead Capital Management LLC raised its holdings in shares of Marathon Petroleum Corporation by 196.0% in the 2nd quarter. Riverhead Capital Management LLC now owns 44,285 shares of the oil and gas company’s stock worth $2,317,000 after purchasing an additional 29,322 shares during the period. AJO LP raised its holdings in shares of Marathon Petroleum Corporation by 9.0% in the 2nd quarter. AJO LP now owns 4,991,921 shares of the oil and gas company’s stock worth $261,227,000 after purchasing an additional 410,816 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Marathon Petroleum Corporation by 5.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 22,952 shares of the oil and gas company’s stock worth $1,201,000 after purchasing an additional 1,236 shares during the period. Finally, Martingale Asset Management L P raised its holdings in shares of Marathon Petroleum Corporation by 3.2% in the 2nd quarter. Martingale Asset Management L P now owns 41,554 shares of the oil and gas company’s stock worth $2,175,000 after purchasing an additional 1,293 shares during the period. 78.85% of the stock is currently owned by institutional investors.

Shares of Marathon Petroleum Corporation (NYSE MPC) traded up 0.07% on Tuesday, reaching $53.79. 1,104,757 shares of the company traded hands. Marathon Petroleum Corporation has a 1-year low of $39.29 and a 1-year high of $56.81. The firm has a market capitalization of $27.23 billion, a P/E ratio of 32.08 and a beta of 1.56. The stock has a 50-day moving average price of $53.11 and a 200 day moving average price of $52.00.

Marathon Petroleum Corporation (NYSE:MPC) last announced its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.01). The company had revenue of $18.35 billion during the quarter, compared to the consensus estimate of $19.98 billion. Marathon Petroleum Corporation had a net margin of 1.34% and a return on equity of 5.52%. The business’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.07 earnings per share. Analysts anticipate that Marathon Petroleum Corporation will post $2.90 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Wednesday, August 16th were issued a $0.40 dividend. This is an increase from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. This represents a $1.60 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date was Monday, August 14th. Marathon Petroleum Corporation’s payout ratio is currently 90.91%.

A number of equities research analysts recently commented on the stock. Jefferies Group LLC reaffirmed a “buy” rating and issued a $64.00 price target (down previously from $65.00) on shares of Marathon Petroleum Corporation in a report on Wednesday, September 6th. Wells Fargo & Company cut shares of Marathon Petroleum Corporation from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $65.00 to $56.00 in a report on Tuesday, September 5th. Bank of America Corporation cut shares of Marathon Petroleum Corporation from a “buy” rating to a “neutral” rating in a report on Tuesday, September 5th. ValuEngine raised shares of Marathon Petroleum Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, Scotiabank reissued a “hold” rating and set a $55.00 target price on shares of Marathon Petroleum Corporation in a report on Friday, September 1st. Six investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $59.16.

In other news, insider Thomas M. Kelley sold 25,000 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $54.33, for a total value of $1,358,250.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.05% of the company’s stock.

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About Marathon Petroleum Corporation

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

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