Affinity Investment Advisors LLC decreased its position in shares of Marathon Petroleum Corp (NYSE:MPC) by 18.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 156,526 shares of the oil and gas company’s stock after selling 34,443 shares during the period. Marathon Petroleum accounts for 1.6% of Affinity Investment Advisors LLC’s holdings, making the stock its 20th biggest position. Affinity Investment Advisors LLC’s holdings in Marathon Petroleum were worth $10,982,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Legacy Financial Advisors Inc. purchased a new stake in Marathon Petroleum during the second quarter valued at approximately $113,000. Piedmont Investment Advisors LLC lifted its position in Marathon Petroleum by 88.9% during the second quarter. Piedmont Investment Advisors LLC now owns 45,573 shares of the oil and gas company’s stock valued at $3,197,000 after acquiring an additional 21,451 shares during the last quarter. Pinnacle Financial Partners Inc. lifted its position in Marathon Petroleum by 462.9% during the second quarter. Pinnacle Financial Partners Inc. now owns 5,629 shares of the oil and gas company’s stock valued at $395,000 after acquiring an additional 4,629 shares during the last quarter. PGGM Investments lifted its position in Marathon Petroleum by 13.5% during the second quarter. PGGM Investments now owns 596,397 shares of the oil and gas company’s stock valued at $41,843,000 after acquiring an additional 70,831 shares during the last quarter. Finally, Foundry Partners LLC lifted its position in Marathon Petroleum by 2.5% during the second quarter. Foundry Partners LLC now owns 231,124 shares of the oil and gas company’s stock valued at $16,216,000 after acquiring an additional 5,625 shares during the last quarter. 79.57% of the stock is owned by institutional investors.
A number of research firms recently commented on MPC. Mizuho began coverage on shares of Marathon Petroleum in a research report on Wednesday, August 1st. They set a “buy” rating and a $95.00 target price for the company. Tudor Pickering cut shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Friday, May 18th. Royal Bank of Canada reissued a “buy” rating and set a $87.00 target price on shares of Marathon Petroleum in a research report on Friday, July 27th. JPMorgan Chase & Co. upped their price target on shares of Marathon Petroleum from $98.00 to $102.00 and gave the company an “overweight” rating in a research note on Friday, July 27th. Finally, ValuEngine lowered shares of Marathon Petroleum from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 6th. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $85.00.
Shares of Marathon Petroleum stock opened at $80.93 on Monday. The company has a current ratio of 1.60, a quick ratio of 1.12 and a debt-to-equity ratio of 0.92. Marathon Petroleum Corp has a 12-month low of $49.30 and a 12-month high of $83.33. The company has a market cap of $36.42 billion, a price-to-earnings ratio of 21.30, a P/E/G ratio of 1.33 and a beta of 1.40.
Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Thursday, July 26th. The oil and gas company reported $2.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.98 by $0.29. The firm had revenue of $22.45 billion for the quarter, compared to analyst estimates of $22.14 billion. Marathon Petroleum had a net margin of 4.89% and a return on equity of 12.83%. The business’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.93 earnings per share. research analysts forecast that Marathon Petroleum Corp will post 5.12 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Thursday, August 16th will be paid a $0.46 dividend. The ex-dividend date is Wednesday, August 15th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.27%. Marathon Petroleum’s payout ratio is currently 48.42%.
Marathon Petroleum Profile
Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.
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