Rhumbline Advisers Sells 28,272 Shares of Marathon Petroleum Corp (MPC)
Rhumbline Advisers reduced its stake in Marathon Petroleum Corp (NYSE:MPC) by 3.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 860,224 shares of the oil and gas company’s stock after selling 28,272 shares during the period. Rhumbline Advisers owned 0.19% of Marathon Petroleum worth $60,353,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of MPC. D.A. Davidson & CO. lifted its holdings in Marathon Petroleum by 4.3% during the first quarter. D.A. Davidson & CO. now owns 16,622 shares of the oil and gas company’s stock worth $1,215,000 after acquiring an additional 688 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in Marathon Petroleum by 1.4% during the second quarter. Janney Montgomery Scott LLC now owns 51,889 shares of the oil and gas company’s stock worth $3,641,000 after acquiring an additional 692 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in Marathon Petroleum by 63.8% during the first quarter. Quadrant Capital Group LLC now owns 1,787 shares of the oil and gas company’s stock worth $120,000 after acquiring an additional 696 shares in the last quarter. Gyroscope Capital Management Group LLC lifted its holdings in Marathon Petroleum by 15.5% during the first quarter. Gyroscope Capital Management Group LLC now owns 5,248 shares of the oil and gas company’s stock worth $384,000 after acquiring an additional 706 shares in the last quarter. Finally, Busey Trust CO lifted its holdings in Marathon Petroleum by 23.8% during the first quarter. Busey Trust CO now owns 4,096 shares of the oil and gas company’s stock worth $300,000 after acquiring an additional 787 shares in the last quarter. Institutional investors and hedge funds own 79.57% of the company’s stock.
MPC opened at $80.93 on Friday. Marathon Petroleum Corp has a 1 year low of $49.30 and a 1 year high of $83.33. The stock has a market capitalization of $36.42 billion, a price-to-earnings ratio of 15.62, a PEG ratio of 1.33 and a beta of 1.40. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.12 and a current ratio of 1.60.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Thursday, August 16th will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Wednesday, August 15th. Marathon Petroleum’s dividend payout ratio is 48.42%.
Several research analysts have weighed in on the company. Mizuho assumed coverage on Marathon Petroleum in a report on Wednesday, August 1st. They set a “buy” rating and a $95.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on Marathon Petroleum from $98.00 to $102.00 and gave the stock an “overweight” rating in a report on Friday, July 27th. Royal Bank of Canada reiterated a “buy” rating and set a $87.00 target price on shares of Marathon Petroleum in a report on Friday, July 27th. Zacks Investment Research lowered Marathon Petroleum from a “buy” rating to a “hold” rating in a report on Monday, July 16th. Finally, ValuEngine lowered Marathon Petroleum from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 6th. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Marathon Petroleum presently has a consensus rating of “Buy” and an average price target of $85.00.
In related news, insider Thomas M. Kelley sold 24,818 shares of Marathon Petroleum stock in a transaction dated Wednesday, May 30th. The stock was sold at an average price of $79.47, for a total value of $1,972,286.46. Following the sale, the insider now owns 51,869 shares of the company’s stock, valued at $4,122,029.43. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.09% of the company’s stock.
Marathon Petroleum Profile
Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.
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