Victory Capital Management Inc. increased its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 38.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 137,426 shares of the oil and gas company’s stock after acquiring an additional 37,936 shares during the period. Victory Capital Management Inc.’s holdings in Marathon Petroleum Corporation were worth $7,707,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the stock. Crossmark Global Holdings Inc. purchased a new position in Marathon Petroleum Corporation in the third quarter worth approximately $3,360,000. Sumitomo Mitsui Asset Management Company LTD grew its position in Marathon Petroleum Corporation by 39.6% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 58,510 shares of the oil and gas company’s stock worth $3,281,000 after acquiring an additional 16,596 shares during the period. Parsons Capital Management Inc. RI grew its position in Marathon Petroleum Corporation by 14.1% in the third quarter. Parsons Capital Management Inc. RI now owns 8,110 shares of the oil and gas company’s stock worth $455,000 after acquiring an additional 1,000 shares during the period. Eagle Ridge Investment Management purchased a new position in Marathon Petroleum Corporation in the third quarter worth approximately $896,000. Finally, Calamos Advisors LLC grew its position in Marathon Petroleum Corporation by 239.0% in the third quarter. Calamos Advisors LLC now owns 283,712 shares of the oil and gas company’s stock worth $15,911,000 after acquiring an additional 200,027 shares during the period. Institutional investors own 81.02% of the company’s stock.
Several research analysts recently weighed in on the company. BidaskClub lowered Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 19th. Jefferies Group LLC set a $65.00 price target on Marathon Petroleum Corporation and gave the stock a “buy” rating in a research report on Friday, August 25th. Zacks Investment Research upgraded Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Goldman Sachs Group, Inc. (The) lowered Marathon Petroleum Corporation from a “buy” rating to a “neutral” rating and set a $63.00 price target for the company. in a research report on Tuesday, October 3rd. They noted that the move was a valuation call. Finally, Cowen and Company raised their price target on Marathon Petroleum Corporation from $60.00 to $79.00 and gave the stock an “outperform” rating in a research report on Tuesday. They noted that the move was a valuation call. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Marathon Petroleum Corporation currently has a consensus rating of “Buy” and an average target price of $65.07.
In other Marathon Petroleum Corporation news, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP C. Michael Palmer sold 11,450 shares of the firm’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $53.02, for a total value of $607,079.00. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by company insiders.
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Shares of Marathon Petroleum Corporation (NYSE:MPC) opened at $61.50 on Thursday. The stock has a market capitalization of $30,706.47, a price-to-earnings ratio of 19.11, a PEG ratio of 1.59 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 52 week low of $42.57 and a 52 week high of $63.41.
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 (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.29. The business had revenue of $19.36 billion for 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 company’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same period last year, the firm earned $0.58 earnings per share. analysts anticipate that Marathon Petroleum Corporation will post 3.59 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 paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.60%. The ex-dividend date is Wednesday, November 15th. Marathon Petroleum Corporation’s payout ratio is currently 49.08%.
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.
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