Captrust Financial Advisors Takes $173,000 Position in Marathon Petroleum Corporation (MPC)
Captrust Financial Advisors acquired a new stake in Marathon Petroleum Corporation (NYSE:MPC) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 3,311 shares of the oil and gas company’s stock, valued at approximately $173,000.
A number of other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in Marathon Petroleum Corporation by 2,779.4% in the 1st quarter. BlackRock Inc. now owns 56,121,367 shares of the oil and gas company’s stock valued at $2,836,372,000 after buying an additional 54,172,304 shares during the period. Vanguard Group Inc. increased its stake in Marathon Petroleum Corporation by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 37,711,603 shares of the oil and gas company’s stock valued at $1,905,944,000 after buying an additional 1,549,473 shares during the period. State Street Corp increased its stake in Marathon Petroleum Corporation by 0.4% in the 1st quarter. State Street Corp now owns 28,029,983 shares of the oil and gas company’s stock valued at $1,416,636,000 after buying an additional 107,894 shares during the period. Boston Partners increased its stake in Marathon Petroleum Corporation by 1.8% in the 1st quarter. Boston Partners now owns 14,798,820 shares of the oil and gas company’s stock valued at $747,933,000 after buying an additional 267,469 shares during the period. Finally, Kensico Capital Management Corp increased its stake in Marathon Petroleum Corporation by 7.7% in the 1st quarter. Kensico Capital Management Corp now owns 9,260,000 shares of the oil and gas company’s stock valued at $468,000,000 after buying an additional 660,000 shares during the period. Hedge funds and other institutional investors own 78.85% of the company’s stock.
Several research analysts have weighed in on MPC shares. Bank of America Corporation lowered shares of Marathon Petroleum Corporation from a “buy” rating to a “neutral” rating in a research note on Tuesday, September 5th. Zacks Investment Research lowered shares of Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Wells Fargo & Company lowered shares of Marathon Petroleum Corporation from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $65.00 to $56.00 in a research note on Tuesday, September 5th. Royal Bank Of Canada reiterated a “buy” rating and issued a $71.00 price objective on shares of Marathon Petroleum Corporation in a research note on Thursday, August 31st. Finally, Scotiabank set a $55.00 price objective on shares of Marathon Petroleum Corporation and gave the company a “hold” rating in a research note on Tuesday, July 11th. Six investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $59.67.
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Shares of Marathon Petroleum Corporation (MPC) opened at 52.96 on Friday. Marathon Petroleum Corporation has a 12-month low of $39.29 and a 12-month high of $56.81. The company has a market capitalization of $26.81 billion, a P/E ratio of 31.58 and a beta of 1.56. The company’s 50 day moving average is $52.82 and its 200 day moving average is $52.06.
Marathon Petroleum Corporation (NYSE:MPC) last posted its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, missing the Zacks’ 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 business had revenue of $18.35 billion during the quarter, compared to analyst estimates of $19.98 billion. During the same quarter last year, the business earned $1.07 earnings per share. Marathon Petroleum Corporation’s revenue for the quarter was up 9.3% on a year-over-year basis. Analysts expect that Marathon Petroleum Corporation will post $2.90 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Wednesday, August 16th were issued a $0.40 dividend. The ex-dividend date of this dividend was Monday, August 14th. This is an increase from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.02%. Marathon Petroleum Corporation’s dividend payout ratio (DPR) is 90.91%.
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.
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