Marathon Petroleum Corporation (NYSE:MPC) Shares Bought by Bank of Nova Scotia

Bank of Nova Scotia raised its stake in Marathon Petroleum Corporation (NYSE:MPC) by 907.2% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 121,291 shares of the oil and gas company’s stock after buying an additional 109,249 shares during the period. Bank of Nova Scotia’s holdings in Marathon Petroleum Corporation were worth $6,130,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Marathon Petroleum Corporation by 2,779.4% in the first quarter. BlackRock Inc. now owns 56,121,367 shares of the oil and gas company’s stock valued at $2,836,372,000 after buying an additional 54,172,304 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Marathon Petroleum Corporation by 4.3% in the first quarter. Vanguard Group Inc. now owns 37,711,603 shares of the oil and gas company’s stock valued at $1,905,944,000 after buying an additional 1,549,473 shares in the last quarter. State Street Corp boosted its stake in shares of Marathon Petroleum Corporation by 0.4% in the first quarter. State Street Corp now owns 28,029,983 shares of the oil and gas company’s stock valued at $1,416,636,000 after buying an additional 107,894 shares in the last quarter. Boston Partners boosted its stake in shares of Marathon Petroleum Corporation by 1.8% in the first quarter. Boston Partners now owns 14,798,820 shares of the oil and gas company’s stock valued at $747,933,000 after buying an additional 267,469 shares in the last quarter. Finally, Kensico Capital Management Corp boosted its stake in shares of Marathon Petroleum Corporation by 7.7% in the first quarter. Kensico Capital Management Corp now owns 9,260,000 shares of the oil and gas company’s stock valued at $468,000,000 after buying an additional 660,000 shares in the last quarter. Institutional investors own 81.58% of the company’s stock.

Marathon Petroleum Corporation (NYSE:MPC) traded down 0.10% during trading on Friday, hitting $52.16. 3,303,532 shares of the company traded hands. The company has a market capitalization of $26.41 billion, a P/E ratio of 31.10 and a beta of 1.56. The stock has a 50 day moving average price of $54.11 and a 200 day moving average price of $51.62. Marathon Petroleum Corporation has a 12-month low of $39.29 and a 12-month high of $56.81.

Marathon Petroleum Corporation (NYSE:MPC) last announced its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.04 by $0.01. The firm had revenue of $18.35 billion during the quarter, compared to analysts’ expectations of $19.98 billion. Marathon Petroleum Corporation had a return on equity of 5.52% and a net margin of 1.34%. The company’s revenue was up 9.3% compared to the same quarter last year. During the same period last year, the business posted $1.07 EPS. On average, equities analysts anticipate that Marathon Petroleum Corporation will post $2.74 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Wednesday, August 16th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is Monday, August 14th. This is a positive change from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. Marathon Petroleum Corporation’s payout ratio is presently 81.82%.

COPYRIGHT VIOLATION WARNING: This report was originally reported by Community Financial News and is the sole property of of Community Financial News. If you are viewing this report on another publication, it was illegally copied and reposted in violation of United States & international trademark & copyright laws. The legal version of this report can be viewed at https://www.com-unik.info/2017/08/11/bank-of-nova-scotia-has-6-13-million-position-in-marathon-petroleum-corporation-nysempc-updated-updated-updated.html.

MPC has been the subject of a number of analyst reports. BidaskClub cut shares of Marathon Petroleum Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. Cowen and Company boosted their price objective on shares of Marathon Petroleum Corporation from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. Jefferies Group LLC restated a “buy” rating and set a $61.00 price objective on shares of Marathon Petroleum Corporation in a report on Wednesday, April 19th. US Capital Advisors reaffirmed a “buy” rating on shares of Marathon Petroleum Corporation in a research note on Monday, May 22nd. Finally, Citigroup Inc. reaffirmed a “buy” rating and issued a $67.00 price target (down previously from $68.50) on shares of Marathon Petroleum Corporation in a research note on Saturday, April 22nd. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. Marathon Petroleum Corporation has an average rating of “Buy” and a consensus target price of $58.62.

In other Marathon Petroleum Corporation news, insider Thomas M. Kelley sold 25,000 shares of Marathon Petroleum Corporation stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $54.33, for a total transaction of $1,358,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP C. Michael Palmer sold 4,000 shares of Marathon Petroleum Corporation stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $53.25, for a total value of $213,000.00. Following the transaction, the vice president now directly owns 61,757 shares of the company’s stock, valued at approximately $3,288,560.25. The disclosure for this sale can be found here. Insiders have sold a total of 33,568 shares of company stock valued at $1,808,969 in the last ninety days. Insiders own 1.05% of the company’s stock.

About Marathon Petroleum Corporation

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.

Institutional Ownership by Quarter for Marathon Petroleum Corporation (NYSE:MPC)

What are top analysts saying about Marathon Petroleum Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Marathon Petroleum Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit