DekaBank Deutsche Girozentrale Has $5.78 Million Stake in Marathon Petroleum Corporation (MPC)
DekaBank Deutsche Girozentrale increased its position in Marathon Petroleum Corporation (NYSE:MPC) by 23.5% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 109,208 shares of the oil and gas company’s stock after buying an additional 20,778 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Marathon Petroleum Corporation were worth $5,780,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in MPC. Blockhouse Capital Management LP acquired a new position in Marathon Petroleum Corporation during the first quarter valued at approximately $14,970,000. Hartford Investment Management Co. raised its position in Marathon Petroleum Corporation by 13.2% in the first quarter. Hartford Investment Management Co. now owns 147,217 shares of the oil and gas company’s stock valued at $7,440,000 after buying an additional 17,182 shares during the last quarter. Buckingham Asset Management LLC raised its position in Marathon Petroleum Corporation by 2.1% in the first quarter. Buckingham Asset Management LLC now owns 4,141 shares of the oil and gas company’s stock valued at $209,000 after buying an additional 87 shares during the last quarter. Bank of The West raised its position in Marathon Petroleum Corporation by 28.4% in the first quarter. Bank of The West now owns 49,717 shares of the oil and gas company’s stock valued at $2,512,000 after buying an additional 10,990 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its position in Marathon Petroleum Corporation by 1.2% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,119,312 shares of the oil and gas company’s stock valued at $56,570,000 after buying an additional 12,792 shares during the last quarter. 81.36% of the stock is owned by institutional investors.
Shares of Marathon Petroleum Corporation (MPC) opened at 51.89 on Wednesday. The company’s 50-day moving average price is $54.18 and its 200-day moving average price is $51.71. Marathon Petroleum Corporation has a 52-week low of $39.29 and a 52-week high of $56.81. The firm has a market capitalization of $26.27 billion, a P/E ratio of 30.94 and a beta of 1.56.
Marathon Petroleum Corporation (NYSE:MPC) last released its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share for the quarter, missing the Thomson Reuters’ 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 company had revenue of $18.35 billion during the quarter, compared to the consensus estimate of $19.98 billion. During the same period in the prior year, the company earned $1.07 earnings per share. The firm’s revenue was up 9.3% compared to the same quarter last year. On average, equities research analysts expect that Marathon Petroleum Corporation will post $2.74 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Wednesday, August 16th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date is Monday, August 14th. This is a positive change from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. Marathon Petroleum Corporation’s dividend payout ratio is presently 90.91%.
Several equities analysts recently commented on the company. BidaskClub lowered Marathon Petroleum Corporation from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 9th. Zacks Investment Research upgraded Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. Cowen and Company upped their target price on Marathon Petroleum Corporation from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, July 27th. Jefferies Group LLC reiterated a “buy” rating and issued a $54.83 target price (down from $65.00) on shares of Marathon Petroleum Corporation in a research note on Thursday, July 20th. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $64.00 target price on shares of Marathon Petroleum Corporation in a research note on Friday, July 14th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $58.62.
In related news, insider Thomas M. Kelley sold 25,000 shares of the stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $54.33, for a total transaction of $1,358,250.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP C. Michael Palmer sold 4,568 shares of the stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $52.04, for a total transaction of $237,718.72. Following the sale, the vice president now owns 62,325 shares in the company, valued at approximately $3,243,393. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,568 shares of company stock worth $1,808,969. Company insiders own 1.05% of the company’s stock.
Marathon Petroleum Corporation Company Profile
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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