Gabelli Funds LLC Boosts Holdings in Marathon Petroleum Corporation (MPC)

Gabelli Funds LLC grew its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 1.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 462,600 shares of the oil and gas company’s stock after buying an additional 5,500 shares during the quarter. Gabelli Funds LLC owned approximately 0.09% of Marathon Petroleum Corporation worth $25,943,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of MPC. Sii Investments Inc. WI grew its stake in shares of Marathon Petroleum Corporation by 13.5% during the first quarter. Sii Investments Inc. WI now owns 7,471 shares of the oil and gas company’s stock worth $377,000 after buying an additional 887 shares during the last quarter. Cobalt Capital Management Inc. grew its stake in shares of Marathon Petroleum Corporation by 9.8% during the first quarter. Cobalt Capital Management Inc. now owns 697,102 shares of the oil and gas company’s stock worth $35,232,000 after buying an additional 62,000 shares during the last quarter. Kensico Capital Management Corp grew its stake in shares of Marathon Petroleum Corporation by 7.7% during the first quarter. Kensico Capital Management Corp now owns 9,260,000 shares of the oil and gas company’s stock worth $468,000,000 after buying an additional 660,000 shares during the last quarter. Highbridge Capital Management LLC grew its stake in shares of Marathon Petroleum Corporation by 58.2% during the first quarter. Highbridge Capital Management LLC now owns 254,688 shares of the oil and gas company’s stock worth $12,872,000 after buying an additional 93,688 shares during the last quarter. Finally, York Capital Management Global Advisors LLC bought a new stake in shares of Marathon Petroleum Corporation during the first quarter worth $19,877,000. 81.28% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Corporation (NYSE:MPC) opened at $63.22 on Thursday. The stock has a market cap of $30,823.69, a price-to-earnings ratio of 19.18, a P/E/G ratio of 1.63 and a beta of 1.59. The company has a quick ratio of 0.80, a current ratio of 1.52 and a debt-to-equity ratio of 0.64. Marathon Petroleum Corporation has a fifty-two week low of $41.43 and a fifty-two week high of $62.78.

Marathon Petroleum Corporation (NYSE:MPC) last announced its quarterly earnings data on Thursday, October 26th. The oil and gas company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.29. Marathon Petroleum Corporation had a net margin of 2.35% and a return on equity of 8.52%. The firm had revenue of $19.36 billion for the quarter, compared to analyst estimates of $19.38 billion. During the same quarter in the prior year, the business earned $0.58 earnings per share. The business’s quarterly revenue was up 17.6% compared to the same quarter last year. equities analysts expect that Marathon Petroleum Corporation will post 3.53 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Thursday, November 16th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $1.60 annualized dividend and a dividend yield of 2.53%. Marathon Petroleum Corporation’s dividend payout ratio is currently 49.08%.

A number of brokerages have recently commented on MPC. Citigroup Inc. lifted their price target on shares of Marathon Petroleum Corporation from $67.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, October 18th. Zacks Investment Research upgraded shares of Marathon Petroleum Corporation from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a report on Monday, October 16th. Edward Jones upgraded shares of Marathon Petroleum Corporation from a “hold” rating to a “buy” rating in a report on Friday, October 6th. Barclays PLC reiterated an “overweight” rating and set a $63.00 price target (up previously from $62.00) on shares of Marathon Petroleum Corporation in a report on Tuesday, October 10th. Finally, BidaskClub upgraded shares of Marathon Petroleum Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $62.07.

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In other news, VP C. Michael Palmer sold 11,450 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $53.02, for a total transaction of $607,079.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Anthony R. Kenney sold 77,578 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $62.35, for a total transaction of $4,836,988.30. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by corporate insiders.

Marathon Petroleum Corporation 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.

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

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