CrestPoint Capital Management LLC Reduces Stake in Marathon Petroleum Corporation (MPC)

CrestPoint Capital Management LLC lowered its position in Marathon Petroleum Corporation (NYSE:MPC) by 4.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,600 shares of the oil and gas company’s stock after selling 2,300 shares during the period. Marathon Petroleum Corporation makes up 1.3% of CrestPoint Capital Management LLC’s holdings, making the stock its 9th largest position. CrestPoint Capital Management LLC’s holdings in Marathon Petroleum Corporation were worth $2,805,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Guardian Life Insurance Co. of America increased its stake in shares of Marathon Petroleum Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,036 shares of the oil and gas company’s stock valued at $103,000 after buying an additional 14 shares during the period. FTB Advisors Inc. increased its stake in shares of Marathon Petroleum Corporation by 484.9% in the first quarter. FTB Advisors Inc. now owns 2,047 shares of the oil and gas company’s stock valued at $104,000 after buying an additional 1,697 shares during the period. Carroll Financial Associates Inc. increased its stake in shares of Marathon Petroleum Corporation by 12.3% in the first quarter. Carroll Financial Associates Inc. now owns 2,287 shares of the oil and gas company’s stock valued at $115,000 after buying an additional 250 shares during the period. Jacobi Capital Management LLC increased its stake in shares of Marathon Petroleum Corporation by 32.2% in the first quarter. Jacobi Capital Management LLC now owns 2,340 shares of the oil and gas company’s stock valued at $116,000 after buying an additional 570 shares during the period. Finally, Tarbox Group Inc. increased its stake in shares of Marathon Petroleum Corporation by 1.5% in the first quarter. Tarbox Group Inc. now owns 2,423 shares of the oil and gas company’s stock valued at $122,000 after buying an additional 36 shares during the period. 81.58% of the stock is owned by hedge funds and other institutional investors.

Shares of Marathon Petroleum Corporation (NYSE MPC) traded down 0.10% during midday trading on Friday, reaching $52.16. The company’s stock had a trading volume of 3,303,532 shares. The stock has a 50 day moving average price of $54.11 and a 200-day moving average price of $51.62. The company has a market capitalization of $26.41 billion, a price-to-earnings ratio of 31.10 and a beta of 1.56. Marathon Petroleum Corporation has a 52-week low of $39.29 and a 52-week high of $56.81.

Marathon Petroleum Corporation (NYSE:MPC) last announced its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $1.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by $0.01. The company had revenue of $18.35 billion during the quarter, compared to analyst estimates of $19.98 billion. Marathon Petroleum Corporation had a net margin of 1.34% and a return on equity of 5.52%. Marathon Petroleum Corporation’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.07 EPS. Equities research analysts expect that Marathon Petroleum Corporation will post $2.74 EPS for the current year.

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

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Several brokerages have issued reports on MPC. BidaskClub downgraded shares of Marathon Petroleum Corporation from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Zacks Investment Research upgraded Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a research note on Monday. Jefferies Group LLC reiterated a “buy” rating and set a $54.83 target price (down from $65.00) on shares of Marathon Petroleum Corporation in a research note on Thursday, July 20th. Cowen and Company increased their target price on Marathon Petroleum Corporation from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, July 27th. Finally, US Capital Advisors reiterated a “buy” rating on shares of Marathon Petroleum Corporation in a research note on Monday, May 22nd. Three research 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 a consensus rating of “Buy” and a consensus target price of $58.62.

In related news, insider Thomas M. Kelley sold 25,000 shares of the business’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $54.33, for a total value of $1,358,250.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP C. Michael Palmer sold 4,000 shares of the business’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $53.25, for a total value of $213,000.00. Following the completion of the sale, the vice president now directly owns 61,757 shares in the company, valued at approximately $3,288,560.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,568 shares of company stock worth $1,808,969. 1.05% of the stock is owned by insiders.

Marathon Petroleum Corporation 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.

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

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