Marathon Petroleum Corp (MPC) Shares Bought by Vident Investment Advisory LLC
Vident Investment Advisory LLC boosted its position in Marathon Petroleum Corp (NYSE:MPC) by 33.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,867 shares of the oil and gas company’s stock after buying an additional 1,469 shares during the quarter. Vident Investment Advisory LLC’s holdings in Marathon Petroleum were worth $412,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Legacy Financial Advisors Inc. bought a new stake in Marathon Petroleum in the second quarter valued at about $113,000. Northwest Wealth Management LLC bought a new stake in Marathon Petroleum in the second quarter valued at about $116,000. Private Capital Group LLC increased its holdings in Marathon Petroleum by 547.0% in the first quarter. Private Capital Group LLC now owns 1,708 shares of the oil and gas company’s stock valued at $125,000 after buying an additional 1,444 shares during the last quarter. Norway Savings Bank bought a new stake in Marathon Petroleum in the second quarter valued at about $126,000. Finally, Destination Wealth Management bought a new stake in Marathon Petroleum in the second quarter valued at about $144,000. 82.73% of the stock is owned by hedge funds and other institutional investors.
Several analysts recently weighed in on MPC shares. Wells Fargo & Co raised Marathon Petroleum from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $83.27 to $80.00 in a report on Tuesday, May 29th. ValuEngine lowered Marathon Petroleum from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 6th. Zacks Investment Research raised Marathon Petroleum from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a report on Sunday, July 15th. Royal Bank of Canada reissued a “buy” rating and issued a $87.00 price objective on shares of Marathon Petroleum in a report on Friday, July 27th. Finally, JPMorgan Chase & Co. upped their target price on Marathon Petroleum from $98.00 to $102.00 and gave the company an “overweight” rating in a report on Friday, July 27th. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $87.12.
Marathon Petroleum (NYSE:MPC) last posted its earnings results on Thursday, July 26th. The oil and gas company reported $2.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.98 by $0.29. The company had revenue of $22.45 billion during the quarter, compared to analyst estimates of $22.14 billion. Marathon Petroleum had a return on equity of 12.83% and a net margin of 4.89%. The business’s revenue was up 22.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.93 earnings per share. equities research analysts anticipate that Marathon Petroleum Corp will post 5.11 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 10th. Stockholders of record on Thursday, August 16th were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Wednesday, August 15th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 48.42%.
About Marathon Petroleum
Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing, Speedway and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals and trucks that the company owns or operates.
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