Employers Holdings Inc. bought a new position in shares of Marathon Petroleum Corp (NYSE:MPC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 20,971 shares of the oil and gas company’s stock, valued at approximately $1,172,000.
A number of other institutional investors also recently bought and sold shares of the stock. Squar Milner Financial Services LLC grew its holdings in Marathon Petroleum by 7.7% in the first quarter. Squar Milner Financial Services LLC now owns 2,353 shares of the oil and gas company’s stock valued at $140,000 after purchasing an additional 168 shares during the period. LS Investment Advisors LLC boosted its stake in shares of Marathon Petroleum by 0.7% in the first quarter. LS Investment Advisors LLC now owns 26,169 shares of the oil and gas company’s stock worth $1,566,000 after acquiring an additional 188 shares during the last quarter. Unison Advisors LLC boosted its stake in shares of Marathon Petroleum by 0.9% in the second quarter. Unison Advisors LLC now owns 22,197 shares of the oil and gas company’s stock worth $1,240,000 after acquiring an additional 191 shares during the last quarter. Tarbox Family Office Inc. boosted its stake in shares of Marathon Petroleum by 51.5% in the second quarter. Tarbox Family Office Inc. now owns 568 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 193 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of Marathon Petroleum by 2.3% in the first quarter. Parallel Advisors LLC now owns 8,721 shares of the oil and gas company’s stock worth $522,000 after acquiring an additional 194 shares during the last quarter. 76.94% of the stock is currently owned by hedge funds and other institutional investors.
In other Marathon Petroleum news, Director James E. Rohr bought 12,500 shares of Marathon Petroleum stock in a transaction on Tuesday, June 11th. The shares were bought at an average price of $48.14 per share, for a total transaction of $601,750.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.06% of the stock is owned by insiders.
Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Thursday, August 1st. The oil and gas company reported $1.73 EPS for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.40. Marathon Petroleum had a return on equity of 9.55% and a net margin of 2.36%. The firm had revenue of $33.70 billion for the quarter, compared to the consensus estimate of $33.26 billion. During the same quarter last year, the business posted $2.27 earnings per share. The firm’s revenue was up 50.1% compared to the same quarter last year. As a group, equities analysts forecast that Marathon Petroleum Corp will post 4.34 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be given a dividend of $0.53 per share. The ex-dividend date is Tuesday, August 20th. This represents a $2.12 dividend on an annualized basis and a yield of 4.62%. Marathon Petroleum’s payout ratio is 31.27%.
MPC has been the topic of a number of research analyst reports. ValuEngine raised Marathon Petroleum from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 22nd. Zacks Investment Research lowered Marathon Petroleum from a “hold” rating to a “strong sell” rating in a research note on Friday, May 17th. Cowen lowered Marathon Petroleum from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $90.00 to $65.00 in a research note on Friday, May 10th. Royal Bank of Canada lowered their price target on Marathon Petroleum from $71.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Finally, Credit Suisse Group lowered their price target on Marathon Petroleum from $95.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, May 13th. Two analysts have rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. Marathon Petroleum has a consensus rating of “Buy” and an average target price of $82.62.
Marathon Petroleum Company Profile
Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing; Retail; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals and trucks that the company owns or operates.
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