OLD Republic International Corp continued to hold its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 389,000 shares of the oil and gas company’s stock at the end of the first quarter. OLD Republic International Corp owned about 0.07% of Marathon Petroleum Corporation worth $19,660,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. BlackRock Inc. increased its position 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 worth $2,836,372,000 after buying an additional 54,172,304 shares in the last quarter. Iridian Asset Management LLC CT increased its position in shares of Marathon Petroleum Corporation by 209.4% in the first quarter. Iridian Asset Management LLC CT now owns 7,707,619 shares of the oil and gas company’s stock worth $389,543,000 after buying an additional 5,216,764 shares in the last quarter. American Century Companies Inc. increased its position in shares of Marathon Petroleum Corporation by 8,254.8% in the first quarter. American Century Companies Inc. now owns 2,042,740 shares of the oil and gas company’s stock worth $103,240,000 after buying an additional 2,018,290 shares in the last quarter. FMR LLC increased its position in shares of Marathon Petroleum Corporation by 109.5% in the first quarter. FMR LLC now owns 3,685,652 shares of the oil and gas company’s stock worth $186,273,000 after buying an additional 1,926,573 shares during the period. Finally, Alliancebernstein L.P. increased its position in shares of Marathon Petroleum Corporation by 201.9% in the first quarter. Alliancebernstein L.P. now owns 2,758,794 shares of the oil and gas company’s stock worth $139,429,000 after buying an additional 1,844,941 shares during the period. Institutional investors own 81.58% of the company’s stock.
Shares of Marathon Petroleum Corporation (MPC) traded down 0.02% on Friday, hitting $52.20. The stock had a trading volume of 2,702,092 shares. Marathon Petroleum Corporation has a 12-month low of $39.29 and a 12-month high of $56.81. The firm has a market cap of $26.43 billion, a P/E ratio of 31.13 and a beta of 1.56. The company’s 50-day moving average price is $54.11 and its 200 day moving average price is $51.62.
Marathon Petroleum Corporation (NYSE:MPC) last released its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by $0.01. Marathon Petroleum Corporation had a net margin of 1.34% and a return on equity of 5.52%. The firm had revenue of $18.35 billion during the quarter, compared to analyst estimates of $19.98 billion. During the same period in the prior year, the business earned $1.07 EPS. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, equities research analysts forecast that Marathon Petroleum Corporation will post $2.74 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Wednesday, August 16th will be paid a $0.40 dividend. This is an increase 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 dividend yield of 3.06%. Marathon Petroleum Corporation’s dividend payout ratio (DPR) is currently 81.82%.
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A number of brokerages recently issued reports on MPC. BidaskClub downgraded Marathon Petroleum Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Zacks Investment Research raised Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a report on Monday. Jefferies Group LLC reissued a “buy” rating and issued a $54.83 price objective (down from $65.00) on shares of Marathon Petroleum Corporation in a report on Thursday, July 20th. Cowen and Company upped their price target on Marathon Petroleum Corporation from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, July 27th. Finally, US Capital Advisors restated a “buy” rating on shares of Marathon Petroleum Corporation in a research note on Monday, May 22nd. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $58.62.
In other news, VP C. Michael Palmer sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $53.25, for a total value of $213,000.00. Following the completion of the transaction, the vice president now owns 61,757 shares in the company, valued at approximately $3,288,560.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas M. Kelley sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $54.33, for a total value of $1,358,250.00. The disclosure for this sale can be found here. Insiders sold a total of 33,568 shares of company stock valued at $1,808,969 in the last 90 days. 1.05% of the stock is owned by corporate 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.
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