Sandy Spring Bank decreased its position in Marathon Petroleum Corporation (NYSE:MPC) by 8.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,645 shares of the oil and gas company’s stock after selling 230 shares during the period. Sandy Spring Bank’s holdings in Marathon Petroleum Corporation were worth $134,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the company. Prudential PLC bought a new position in Marathon Petroleum Corporation during the fourth quarter worth approximately $523,000. Martingale Asset Management L P bought a new position in Marathon Petroleum Corporation during the fourth quarter worth approximately $3,566,000. Glenview Trust Co bought a new position in Marathon Petroleum Corporation during the fourth quarter worth approximately $326,000. Hunter Associates Investment Management LLC raised its position in Marathon Petroleum Corporation by 16.6% in the fourth quarter. Hunter Associates Investment Management LLC now owns 9,148 shares of the oil and gas company’s stock worth $461,000 after buying an additional 1,300 shares during the period. Finally, Perennial Advisors LLC bought a new position in Marathon Petroleum Corporation during the fourth quarter worth approximately $101,000. Hedge funds and other institutional investors own 79.96% of the company’s stock.
Shares of Marathon Petroleum Corporation (NYSE:MPC) opened at 54.29 on Tuesday. The company has a market cap of $28.16 billion, a price-to-earnings ratio of 23.94 and a beta of 1.67. The company’s 50-day moving average price is $52.63 and its 200-day moving average price is $50.46. Marathon Petroleum Corporation has a 12 month low of $32.84 and a 12 month high of $55.20.
Marathon Petroleum Corporation (NYSE:MPC) last released its earnings results on Thursday, April 27th. The oil and gas company reported $0.06 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.07. The business had revenue of $16.39 billion for the quarter, compared to analysts’ expectations of $19.03 billion. Marathon Petroleum Corporation had a return on equity of 5.68% and a net margin of 1.80%. The firm’s revenue was up 27.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.07 earnings per share. Analysts anticipate that Marathon Petroleum Corporation will post $2.97 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, June 12th. Investors of record on Wednesday, May 17th were paid a $0.36 dividend. The ex-dividend date of this dividend was Monday, May 15th. This represents a $1.44 dividend on an annualized basis and a yield of 2.65%. Marathon Petroleum Corporation’s dividend payout ratio is presently 63.44%.
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MPC has been the topic of a number of recent research reports. Credit Suisse Group restated a “buy” rating and set a $63.00 price objective on shares of Marathon Petroleum Corporation in a research note on Friday, March 3rd. Scotiabank set a $54.00 price objective on Marathon Petroleum Corporation and gave the stock a “hold” rating in a research note on Monday, March 27th. Jefferies Group LLC restated a “buy” rating and set a $61.00 price objective on shares of Marathon Petroleum Corporation in a research note on Wednesday, April 19th. Citigroup Inc. restated a “buy” rating and set a $67.00 price objective (down previously from $68.50) on shares of Marathon Petroleum Corporation in a research note on Saturday, April 22nd. Finally, US Capital Advisors restated a “buy” rating on shares of Marathon Petroleum Corporation in a research note on Monday, May 22nd. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. Marathon Petroleum Corporation has an average rating of “Buy” and a consensus price target of $58.50.
In related news, VP C. Michael Palmer sold 4,000 shares of the stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $53.25, for a total value of $213,000.00. Following the transaction, the vice president now owns 61,757 shares of the company’s stock, valued at $3,288,560.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Thomas M. Kelley sold 25,000 shares of the stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $54.33, for a total value of $1,358,250.00. The disclosure for this sale can be found here. In the last three months, insiders sold 33,568 shares of company stock worth $1,808,969. 1.05% of the stock is owned by insiders.
Marathon Petroleum Corporation Company 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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