MUFG Americas Holdings Corp reduced its stake in shares of Marathon Petroleum Corp (NYSE:MPC) by 8.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,950 shares of the oil and gas company’s stock after selling 2,038 shares during the quarter. MUFG Americas Holdings Corp’s holdings in Marathon Petroleum were worth $858,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Principal Financial Group Inc. grew its stake in shares of Marathon Petroleum by 3.5% in the first quarter. Principal Financial Group Inc. now owns 4,114,851 shares of the oil and gas company’s stock worth $97,194,000 after purchasing an additional 140,283 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Marathon Petroleum by 14.9% in the first quarter. The Manufacturers Life Insurance Company now owns 846,552 shares of the oil and gas company’s stock worth $19,995,000 after purchasing an additional 109,796 shares in the last quarter. CX Institutional grew its stake in shares of Marathon Petroleum by 94.6% in the first quarter. CX Institutional now owns 62,654 shares of the oil and gas company’s stock worth $1,480,000 after purchasing an additional 30,463 shares in the last quarter. Strs Ohio lifted its holdings in shares of Marathon Petroleum by 4.0% in the second quarter. Strs Ohio now owns 570,855 shares of the oil and gas company’s stock valued at $21,338,000 after buying an additional 22,152 shares during the period. Finally, Camelot Portfolios LLC lifted its holdings in shares of Marathon Petroleum by 47.0% in the first quarter. Camelot Portfolios LLC now owns 60,961 shares of the oil and gas company’s stock valued at $1,440,000 after buying an additional 19,486 shares during the period. Hedge funds and other institutional investors own 73.54% of the company’s stock.
Shares of NYSE MPC traded up $1.09 during mid-day trading on Friday, reaching $38.35. 5,715,979 shares of the company traded hands, compared to its average volume of 9,648,825. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.57 and a current ratio of 1.27. The stock has a market cap of $24.04 billion, a PE ratio of -3.22 and a beta of 2.18. The company’s fifty day moving average is $36.94 and its two-hundred day moving average is $36.71. Marathon Petroleum Corp has a fifty-two week low of $15.26 and a fifty-two week high of $69.65.
Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Monday, August 3rd. The oil and gas company reported ($1.33) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.86) by $0.53. The business had revenue of $15.20 billion for the quarter, compared to analyst estimates of $17.49 billion. Marathon Petroleum had a positive return on equity of 3.04% and a negative net margin of 7.55%. The firm’s revenue for the quarter was down 54.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.73 EPS. Research analysts forecast that Marathon Petroleum Corp will post -2.84 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 6.05%. The ex-dividend date is Tuesday, August 18th. Marathon Petroleum’s dividend payout ratio is 46.96%.
MPC has been the subject of several research analyst reports. Credit Suisse Group upped their price objective on Marathon Petroleum from $38.00 to $41.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Jefferies Financial Group increased their price objective on Marathon Petroleum from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. Morgan Stanley increased their price objective on Marathon Petroleum from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday. Mizuho reduced their price objective on Marathon Petroleum from $54.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, July 22nd. Finally, Cowen raised Marathon Petroleum from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $37.00 to $43.00 in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $47.93.
About Marathon Petroleum
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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