Chevy Chase Trust Holdings Inc. lowered its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 1.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 453,196 shares of the oil and gas company’s stock after selling 7,677 shares during the period. Chevy Chase Trust Holdings Inc. owned 0.09% of Marathon Petroleum Corporation worth $23,716,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. raised its position in 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 during the period. Vanguard Group Inc. raised its position in 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 during the period. State Street Corp raised its position in 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 during the period. Boston Partners raised its position in 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 during the period. Finally, Kensico Capital Management Corp raised its position in 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 during the period. Institutional investors own 81.58% of the company’s stock.
Marathon Petroleum Corporation (MPC) opened at 52.16 on Friday. Marathon Petroleum Corporation has a 52 week low of $39.29 and a 52 week high of $56.81. The company’s 50-day moving average price is $54.14 and its 200 day moving average price is $51.64. 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 (NYSE:MPC) last announced its 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. Marathon Petroleum Corporation had a return on equity of 5.52% and a net margin of 1.34%. The business had revenue of $18.35 billion for the quarter, compared to the consensus estimate of $19.98 billion. During the same period in the prior year, the business posted $1.07 earnings per share. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, analysts predict that Marathon Petroleum Corporation will post $2.74 EPS for the current year.
The company also recently disclosed 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 represents a $1.60 dividend on an annualized basis and a yield of 3.07%. This is a boost from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. The ex-dividend date is Monday, August 14th. Marathon Petroleum Corporation’s dividend payout ratio (DPR) is 81.82%.
A number of equities analysts have recently commented on MPC shares. BidaskClub lowered Marathon Petroleum Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Cowen and Company lifted their price objective 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. Jefferies Group LLC reiterated a “buy” rating and issued a $61.00 price objective on shares of Marathon Petroleum Corporation in a research note on Wednesday, April 19th. US Capital Advisors reiterated a “buy” rating on shares of Marathon Petroleum Corporation in a research note on Monday, May 22nd. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $67.00 price objective (down from $68.50) on shares of Marathon Petroleum Corporation in a research note on Saturday, April 22nd. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. Marathon Petroleum Corporation has a consensus rating of “Buy” and an average target price of $58.62.
In related news, insider Thomas M. Kelley sold 25,000 shares of Marathon Petroleum Corporation stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $54.33, for a total value of $1,358,250.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP C. Michael Palmer sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $53.25, for a total transaction of $213,000.00. Following the completion of the sale, the vice president now owns 61,757 shares in the company, valued at approximately $3,288,560.25. The disclosure for this sale can be found here. Insiders sold 33,568 shares of company stock worth $1,808,969 over the last three months. 1.05% of the stock is currently owned by insiders.
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.
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