Lincoln National Corp Buys New Position in Marathon Petroleum Corporation (MPC)
Lincoln National Corp bought a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,640 shares of the oil and gas company’s stock, valued at approximately $204,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Chip Partners Inc. bought a new stake in shares of Marathon Petroleum Corporation during the 2nd quarter valued at about $100,000. Lee Financial Co boosted its stake in shares of Marathon Petroleum Corporation by 2.4% during the 2nd quarter. Lee Financial Co now owns 2,048 shares of the oil and gas company’s stock valued at $107,000 after purchasing an additional 48 shares in the last quarter. Crow Point Partners LLC bought a new stake in shares of Marathon Petroleum Corporation during the 3rd quarter valued at about $128,000. Jacobi Capital Management LLC boosted its stake in shares of Marathon Petroleum Corporation by 32.2% during the 1st quarter. Jacobi Capital Management LLC now owns 2,340 shares of the oil and gas company’s stock valued at $116,000 after purchasing an additional 570 shares in the last quarter. Finally, First Interstate Bank boosted its stake in shares of Marathon Petroleum Corporation by 81.1% during the 2nd quarter. First Interstate Bank now owns 2,376 shares of the oil and gas company’s stock valued at $124,000 after purchasing an additional 1,064 shares in the last quarter. 81.28% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently commented on the stock. Citigroup Inc. boosted their price objective on shares of Marathon Petroleum Corporation from $67.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Zacks Investment Research raised shares of Marathon Petroleum Corporation from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a research note on Monday, October 16th. Edward Jones raised shares of Marathon Petroleum Corporation from a “hold” rating to a “buy” rating in a research note on Friday, October 6th. Barclays PLC reissued an “overweight” rating and set a $63.00 price objective (up previously from $62.00) on shares of Marathon Petroleum Corporation in a research note on Tuesday, October 10th. Finally, BidaskClub raised shares of Marathon Petroleum Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $62.07.
Shares of Marathon Petroleum Corporation (NYSE MPC) traded up $0.03 during mid-day trading on Monday, reaching $62.20. 3,648,674 shares of the company’s stock were exchanged, compared to its average volume of 3,981,613. Marathon Petroleum Corporation has a twelve month low of $40.93 and a twelve month high of $62.78. The stock has a market capitalization of $30,379.24, a PE ratio of 18.91, a P/E/G ratio of 1.61 and a beta of 1.59. The company has a current ratio of 1.52, a quick ratio of 0.80 and a debt-to-equity ratio of 0.64.
Marathon Petroleum Corporation (NYSE:MPC) last announced its earnings results on Thursday, October 26th. The oil and gas company reported $1.77 EPS for the quarter, beating the Zacks’ consensus estimate of $1.48 by $0.29. The business had revenue of $19.36 billion during the quarter, compared to analysts’ expectations of $19.38 billion. Marathon Petroleum Corporation had a net margin of 2.35% and a return on equity of 8.52%. The firm’s revenue was up 17.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.58 earnings per share. sell-side analysts predict that Marathon Petroleum Corporation will post 3.52 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Thursday, November 16th will be given a $0.40 dividend. The ex-dividend date is Wednesday, November 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.57%. Marathon Petroleum Corporation’s payout ratio is currently 49.08%.
In other Marathon Petroleum Corporation news, VP C. Michael Palmer sold 11,450 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $53.02, for a total value of $607,079.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.05% of the company’s stock.
Marathon Petroleum Corporation 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.
Want to see what other hedge funds are holding MPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Petroleum Corporation (NYSE:MPC).
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.