Blair William & Co. IL Buys 8,093 Shares of Marathon Petroleum Co. (NYSE:MPC)
Blair William & Co. IL lifted its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 65.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,460 shares of the oil and gas company’s stock after purchasing an additional 8,093 shares during the quarter. Blair William & Co. IL’s holdings in Marathon Petroleum were worth $600,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of MPC. Hoover Financial Advisors Inc. acquired a new position in Marathon Petroleum during the 2nd quarter worth approximately $26,000. Smithfield Trust Co. grew its position in Marathon Petroleum by 241.2% in the 2nd quarter. Smithfield Trust Co. now owns 853 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 603 shares during the period. Demars Financial Group LLC bought a new stake in Marathon Petroleum during the 2nd quarter valued at $36,000. Trustcore Financial Services LLC lifted its stake in shares of Marathon Petroleum by 49.7% in the second quarter. Trustcore Financial Services LLC now owns 1,027 shares of the oil and gas company’s stock valued at $38,000 after buying an additional 341 shares in the last quarter. Finally, Larson Financial Group LLC grew its holdings in shares of Marathon Petroleum by 34.5% during the third quarter. Larson Financial Group LLC now owns 1,391 shares of the oil and gas company’s stock valued at $41,000 after buying an additional 357 shares during the last quarter. Institutional investors own 73.27% of the company’s stock.
A number of equities analysts have issued reports on the company. Mizuho cut their price target on Marathon Petroleum from $52.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, October 22nd. Tudor Pickering raised Marathon Petroleum from a “sell” rating to a “hold” rating and set a $32.00 price target for the company in a research report on Monday, September 28th. Morgan Stanley cut their price objective on shares of Marathon Petroleum from $50.00 to $39.00 and set an “overweight” rating on the stock in a report on Monday, October 19th. Piper Sandler lowered their target price on shares of Marathon Petroleum from $46.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, September 9th. Finally, Citigroup cut their price target on shares of Marathon Petroleum from $38.00 to $30.00 in a report on Thursday, September 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $42.47.
Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Saturday, November 7th. The oil and gas company reported ($1.00) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.70) by $0.70. Marathon Petroleum had a negative net margin of 11.11% and a negative return on equity of 1.74%. The business had revenue of $17.55 billion for the quarter, compared to the consensus estimate of $18.08 billion. During the same period in the prior year, the firm earned $1.63 earnings per share. The company’s revenue was down 36.6% compared to the same quarter last year. As a group, equities analysts expect that Marathon Petroleum Co. will post -3.75 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 18th will be paid a $0.58 dividend. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $2.32 dividend on an annualized basis and a yield of 6.06%. Marathon Petroleum’s dividend payout ratio is 46.96%.
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, Retail, and Midstream. The Refining & Marketing segment refines crude oil and other feed stocks at its 16 refineries in the West Coast, Gulf Coast, and Mid-Continent regions of the United States; and purchases refined products and ethanol for resale.
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