Adell Harriman & Carpenter Inc. lowered its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 1.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 51,001 shares of the oil and gas company’s stock after selling 900 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Marathon Petroleum Corporation were worth $2,860,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. boosted its position in Marathon Petroleum Corporation by 4.1% during the second quarter. Vanguard Group Inc. now owns 39,255,717 shares of the oil and gas company’s stock worth $2,054,251,000 after purchasing an additional 1,544,114 shares in the last quarter. Iridian Asset Management LLC CT boosted its position in Marathon Petroleum Corporation by 8.0% during the second quarter. Iridian Asset Management LLC CT now owns 8,327,167 shares of the oil and gas company’s stock worth $435,761,000 after purchasing an additional 619,548 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Marathon Petroleum Corporation by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 6,068,001 shares of the oil and gas company’s stock worth $317,521,000 after purchasing an additional 17,439 shares in the last quarter. Alliancebernstein L.P. boosted its position in Marathon Petroleum Corporation by 93.3% during the second quarter. Alliancebernstein L.P. now owns 5,331,521 shares of the oil and gas company’s stock worth $278,998,000 after purchasing an additional 2,572,727 shares in the last quarter. Finally, AJO LP boosted its position in Marathon Petroleum Corporation by 9.0% during the second 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 in the last quarter. Institutional investors own 81.02% of the company’s stock.
Marathon Petroleum Corporation (MPC) traded up $0.30 during trading hours on Tuesday, hitting $62.50. The company had a trading volume of 1,734,423 shares, compared to its average volume of 4,407,922. Marathon Petroleum Corporation has a 12-month low of $42.57 and a 12-month high of $63.41. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.80 and a current ratio of 1.52. The firm has a market capitalization of $30,144.80, a PE ratio of 18.76, a PEG ratio of 1.57 and a beta of 1.59.
Marathon Petroleum Corporation (NYSE:MPC) last posted its earnings results on Thursday, October 26th. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.29. The company had revenue of $19.36 billion during the quarter, compared to analysts’ expectations of $19.38 billion. Marathon Petroleum Corporation had a return on equity of 8.52% and a net margin of 2.35%. The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.58 earnings per share. sell-side analysts forecast that Marathon Petroleum Corporation will post 3.59 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Thursday, November 16th will be paid 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 yield of 2.56%. Marathon Petroleum Corporation’s dividend payout ratio (DPR) is 49.08%.
In other Marathon Petroleum Corporation news, VP C. Michael Palmer sold 11,450 shares of the firm’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $53.02, for a total transaction of $607,079.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anthony R. Kenney sold 77,578 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $62.35, for a total value of $4,836,988.30. The disclosure for this sale can be found here. 1.05% of the stock is owned by company insiders.
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A number of equities analysts have issued reports on MPC shares. Cowen and Company reiterated a “buy” rating and set a $60.00 price target on shares of Marathon Petroleum Corporation in a research report on Tuesday, October 17th. BidaskClub upgraded Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Scotiabank restated a “hold” rating and issued a $55.00 target price on shares of Marathon Petroleum Corporation in a research report on Friday, September 1st. Citigroup Inc. raised their target price on Marathon Petroleum Corporation from $67.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, October 18th. Finally, Zacks Investment Research downgraded Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $64.00.
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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