Marathon Petroleum Corporation (MPC) Shares Sold by Commerzbank Aktiengesellschaft FI
Commerzbank Aktiengesellschaft FI lessened its position in Marathon Petroleum Corporation (NYSE:MPC) by 6.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 77,375 shares of the oil and gas company’s stock after selling 5,042 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Marathon Petroleum were worth $4,339,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blue Chip Partners Inc. purchased a new position in shares of Marathon Petroleum in the 2nd quarter valued at approximately $100,000. First Interstate Bank lifted its stake in shares of Marathon Petroleum by 81.1% in 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 during the period. Crow Point Partners LLC purchased a new position in shares of Marathon Petroleum in the 3rd quarter valued at approximately $128,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Marathon Petroleum in the 3rd quarter valued at approximately $135,000. Finally, ClariVest Asset Management LLC purchased a new position in shares of Marathon Petroleum in the 2nd quarter valued at approximately $143,000. Institutional investors own 80.83% of the company’s stock.
A number of research analysts have recently commented on the company. BidaskClub cut Marathon Petroleum from a “hold” rating to a “sell” rating in a research note on Saturday, August 19th. Jefferies Group set a $65.00 price objective on Marathon Petroleum and gave the company a “buy” rating in a research note on Friday, August 25th. Zacks Investment Research upgraded Marathon Petroleum from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. Goldman Sachs Group cut Marathon Petroleum from a “buy” rating to a “neutral” rating and set a $63.00 price objective for the company. in a research note on Tuesday, October 3rd. They noted that the move was a valuation call. Finally, Cowen lifted their price objective on Marathon Petroleum from $60.00 to $79.00 and gave the company an “outperform” rating in a research note on Tuesday, November 14th. They noted that the move was a valuation call. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $65.54.
In other Marathon Petroleum news, VP Raymond L. Brooks sold 13,000 shares of Marathon Petroleum stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $62.26, for a total value of $809,380.00. Following the completion of the sale, the vice president now owns 32,205 shares of the company’s stock, valued at approximately $2,005,083.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Anthony R. Kenney sold 77,578 shares of Marathon Petroleum stock in a transaction on Monday, November 6th. The stock was sold at an average price of $62.35, for a total value of $4,836,988.30. The disclosure for this sale can be found here. In the last three months, insiders sold 102,028 shares of company stock valued at $6,253,447. Corporate insiders own 1.05% of the company’s stock.
Marathon Petroleum Corporation (NYSE:MPC) traded up $1.00 during trading on Monday, hitting $63.84. The company’s stock had a trading volume of 2,070,890 shares, compared to its average volume of 4,374,141. The company has a market cap of $30,691.82, a price-to-earnings ratio of 19.10, a price-to-earnings-growth ratio of 1.51 and a beta of 1.61. Marathon Petroleum Corporation has a twelve month low of $46.88 and a twelve month high of $63.41. 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 (NYSE:MPC) last posted its earnings results on Thursday, October 26th. The oil and gas company reported $1.77 EPS for the quarter, topping the Zacks’ consensus estimate of $1.48 by $0.29. The business had revenue of $19.36 billion during the quarter, compared to analyst estimates of $19.38 billion. Marathon Petroleum had a return on equity of 8.52% and a net margin of 2.35%. The company’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.58 EPS. research analysts expect that Marathon Petroleum Corporation will post 3.8 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Thursday, November 16th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date is Wednesday, November 15th. Marathon Petroleum’s payout ratio is 49.08%.
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Marathon Petroleum 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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