Pitcairn Co. Buys 1,287 Shares of Marathon Petroleum Corp. (MPC)
Pitcairn Co. boosted its stake in Marathon Petroleum Corp. (NYSE:MPC) by 3.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 41,340 shares of the company’s stock after buying an additional 1,287 shares during the period. Pitcairn Co.’s holdings in Marathon Petroleum Corp. were worth $1,570,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Chevy Chase Trust Holdings Inc. boosted its stake in Marathon Petroleum Corp. by 1.5% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 455,662 shares of the company’s stock valued at $16,942,000 after buying an additional 6,839 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in Marathon Petroleum Corp. during the first quarter valued at about $323,000. Wealth Enhancement Advisory Services LLC boosted its stake in Marathon Petroleum Corp. by 55.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 28,927 shares of the company’s stock valued at $1,047,000 after buying an additional 10,286 shares during the last quarter. Raymond James Trust N.A. boosted its stake in Marathon Petroleum Corp. by 12.7% in the first quarter. Raymond James Trust N.A. now owns 103,665 shares of the company’s stock valued at $3,855,000 after buying an additional 11,652 shares during the last quarter. Finally, Douglas Lane & Associates LLC purchased a new stake in Marathon Petroleum Corp. during the first quarter valued at about $22,827,000. Institutional investors own 79.85% of the company’s stock.
Marathon Petroleum Corp. (NYSE:MPC) traded down 2.70% during mid-day trading on Tuesday, hitting $42.55. The stock had a trading volume of 5,480,055 shares. The company has a 50 day moving average price of $42.11 and a 200-day moving average price of $38.28. The company has a market cap of $22.50 billion, a price-to-earnings ratio of 11.74 and a beta of 2.20. Marathon Petroleum Corp. has a one year low of $29.24 and a one year high of $59.99.
Marathon Petroleum Corp. (NYSE:MPC) last released its quarterly earnings results on Thursday, July 28th. The company reported $1.07 EPS for the quarter, beating the consensus estimate of $0.97 by $0.10. The business had revenue of $16.81 billion for the quarter, compared to analyst estimates of $16.30 billion. Marathon Petroleum Corp. had a net margin of 3.02% and a return on equity of 10.94%. The company’s quarterly revenue was down 18.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.51 earnings per share. Equities analysts expect that Marathon Petroleum Corp. will post $2.40 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Wednesday, August 17th were given a $0.36 dividend. The ex-dividend date of this dividend was Monday, August 15th. This is a positive change from Marathon Petroleum Corp.’s previous quarterly dividend of $0.32. This represents a $1.44 annualized dividend and a dividend yield of 3.38%. Marathon Petroleum Corp.’s dividend payout ratio is currently 39.78%.
MPC has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their price objective on Marathon Petroleum Corp. from $39.00 to $38.00 and set a “neutral” rating on the stock in a report on Friday, June 10th. Goldman Sachs Group Inc. reiterated a “top pick” rating on shares of Marathon Petroleum Corp. in a report on Thursday, June 30th. Wells Fargo & Co. reiterated a “buy” rating on shares of Marathon Petroleum Corp. in a report on Saturday, July 9th. Howard Weil cut Marathon Petroleum Corp. from a “sector outperform” rating to a “sector perform” rating and set a $42.00 target price on the stock. in a report on Monday, July 11th. Finally, Scotiabank cut Marathon Petroleum Corp. from an “outperform” rating to a “sector perform” rating and set a $42.00 target price on the stock. in a report on Monday, July 11th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the stock. Marathon Petroleum Corp. currently has a consensus rating of “Buy” and an average price target of $53.05.
Marathon Petroleum Corp. Company Profile
Marathon Petroleum Corporation is engaged in petroleum product refining, marketing, retail and transportation businesses in the United States and the east of the Mississippi. The Company’s segments include Refining & Marketing, Speedway, and Midstream. Its Refining & Marketing segment refines crude oil and other feedstocks at its approximately seven refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products.
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