Northern Trust Corp Has $367.94 Million Holdings in Marathon Petroleum Corp (MPC)
Northern Trust Corp lowered its stake in Marathon Petroleum Corp (NYSE:MPC) by 4.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,244,328 shares of the oil and gas company’s stock after selling 220,469 shares during the period. Northern Trust Corp owned about 1.16% of Marathon Petroleum worth $367,943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of MPC. Legacy Financial Advisors Inc. purchased a new position in shares of Marathon Petroleum in the 2nd quarter valued at about $113,000. Northwest Wealth Management LLC purchased a new position in shares of Marathon Petroleum in the 2nd quarter valued at about $116,000. Private Capital Group LLC increased its holdings in shares of Marathon Petroleum by 547.0% in the 1st quarter. Private Capital Group LLC now owns 1,708 shares of the oil and gas company’s stock valued at $125,000 after acquiring an additional 1,444 shares during the last quarter. Norway Savings Bank purchased a new position in shares of Marathon Petroleum in the 2nd quarter valued at about $126,000. Finally, Destination Wealth Management purchased a new position in shares of Marathon Petroleum in the 2nd quarter valued at about $144,000. 82.73% of the stock is currently owned by institutional investors.
A number of research firms have recently commented on MPC. Zacks Investment Research downgraded Marathon Petroleum from a “buy” rating to a “hold” rating in a report on Tuesday, August 21st. Mizuho began coverage on Marathon Petroleum in a report on Wednesday, August 1st. They issued a “buy” rating and a $95.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on Marathon Petroleum from $98.00 to $102.00 and gave the company an “overweight” rating in a report on Friday, July 27th. Wells Fargo & Co reiterated a “buy” rating on shares of Marathon Petroleum in a report on Monday, August 27th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $87.00 price objective on shares of Marathon Petroleum in a report on Friday, July 27th. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $87.12.
Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Thursday, July 26th. The oil and gas company reported $2.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.29. The firm had revenue of $22.45 billion for the quarter, compared to the consensus estimate of $22.14 billion. Marathon Petroleum had a return on equity of 12.83% and a net margin of 4.89%. The firm’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.93 EPS. research analysts expect that Marathon Petroleum Corp will post 5.11 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 10th. Shareholders of record on Thursday, August 16th were paid a $0.46 dividend. The ex-dividend date was Wednesday, August 15th. This represents a $1.84 annualized dividend and a dividend yield of 2.21%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 48.42%.
Marathon Petroleum Company Profile
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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