Boulegeris Investments Inc. Has $2.53 Million Stake in Marathon Petroleum Corporation (MPC)
Boulegeris Investments Inc. boosted its stake in Marathon Petroleum Corporation (NYSE:MPC) by 2.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,356 shares of the oil and gas company’s stock after buying an additional 1,010 shares during the period. Marathon Petroleum Corporation makes up approximately 1.4% of Boulegeris Investments Inc.’s portfolio, making the stock its 16th largest position. Boulegeris Investments Inc.’s holdings in Marathon Petroleum Corporation were worth $2,530,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in MPC. Blue Chip Partners Inc. purchased a new stake in Marathon Petroleum Corporation during the second quarter valued at about $100,000. Guardian Life Insurance Co. of America raised its stake in Marathon Petroleum Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,036 shares of the oil and gas company’s stock valued at $103,000 after buying an additional 14 shares in the last quarter. FTB Advisors Inc. raised its stake in Marathon Petroleum Corporation by 484.9% in the first quarter. FTB Advisors Inc. now owns 2,047 shares of the oil and gas company’s stock valued at $104,000 after buying an additional 1,697 shares in the last quarter. Lee Financial Co raised its stake in Marathon Petroleum Corporation by 2.4% in the second quarter. Lee Financial Co now owns 2,048 shares of the oil and gas company’s stock valued at $107,000 after buying an additional 48 shares in the last quarter. Finally, Jacobi Capital Management LLC raised its stake in Marathon Petroleum Corporation by 32.2% in the first quarter. Jacobi Capital Management LLC now owns 2,340 shares of the oil and gas company’s stock valued at $116,000 after buying an additional 570 shares in the last quarter. 78.84% of the stock is owned by institutional investors.
Marathon Petroleum Corporation (NYSE:MPC) opened at 52.365 on Tuesday. Marathon Petroleum Corporation has a 1-year low of $39.29 and a 1-year high of $56.81. The company has a market capitalization of $26.51 billion, a P/E ratio of 31.225 and a beta of 1.56. The firm has a 50-day moving average price of $53.66 and a 200 day moving average price of $51.79.
Marathon Petroleum Corporation (NYSE:MPC) last released its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.04 by $0.01. Marathon Petroleum Corporation had a net margin of 1.34% and a return on equity of 5.52%. The firm had revenue of $18.35 billion during the quarter, compared to analysts’ expectations of $19.98 billion. During the same period in the previous year, the business earned $1.07 earnings per share. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, equities analysts predict that Marathon Petroleum Corporation will post $2.74 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Wednesday, August 16th will be paid a $0.40 dividend. This is an increase from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend is Monday, August 14th. Marathon Petroleum Corporation’s dividend payout ratio (DPR) is presently 90.91%.
Several research firms recently issued reports on MPC. BidaskClub lowered shares of Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 19th. Jefferies Group LLC set a $65.00 target price on shares of Marathon Petroleum Corporation and gave the stock a “buy” rating in a report on Friday. Zacks Investment Research raised shares of Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a report on Monday, August 7th. Scotiabank set a $55.00 target price on shares of Marathon Petroleum Corporation and gave the stock a “hold” rating in a report on Tuesday, July 11th. Finally, Piper Jaffray Companies reissued an “overweight” rating and issued a $62.00 target price on shares of Marathon Petroleum Corporation in a report on Thursday, May 25th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. Marathon Petroleum Corporation has an average rating of “Buy” and an average target price of $59.30.
In related news, insider Thomas M. Kelley sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $54.33, for a total value of $1,358,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.05% of the company’s stock.
About Marathon Petroleum Corporation
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.
Receive News & Ratings for Marathon Petroleum Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marathon Petroleum Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.