Algert Global LLC Takes Position in Marathon Petroleum Corporation (MPC)

Algert Global LLC purchased a new position in shares of Marathon Petroleum Corporation (NYSE:MPC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 32,259 shares of the oil and gas company’s stock, valued at approximately $1,688,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of MPC. Guardian Life Insurance Co. of America boosted its position 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 last quarter. FTB Advisors Inc. boosted its position 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 last quarter. Lee Financial Co boosted its position in shares of Marathon Petroleum Corporation by 2.4% in the second quarter. Lee Financial Co now owns 2,048 shares of the oil and gas company’s stock valued at $107,000 after buying an additional 48 shares during the last quarter. Carroll Financial Associates Inc. boosted its position 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 last quarter. Finally, Jacobi Capital Management LLC boosted its position 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 last quarter. 81.36% of the stock is currently owned by institutional investors.

Marathon Petroleum Corporation (NYSE MPC) traded up 0.82% during midday trading on Friday, hitting $50.11. 3,661,324 shares of the company were exchanged. The stock has a 50 day moving average of $54.03 and a 200 day moving average of $51.70. The firm has a market capitalization of $25.37 billion, a PE ratio of 29.88 and a beta of 1.56. Marathon Petroleum Corporation has a 1-year low of $39.29 and a 1-year high of $56.81.

Marathon Petroleum Corporation (NYSE:MPC) last issued its 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 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 quarter in the previous year, the company earned $1.07 earnings per share. The firm’s revenue was up 9.3% on a year-over-year basis. On average, equities analysts predict that Marathon Petroleum Corporation will post $2.75 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Wednesday, August 16th will be issued a $0.40 dividend. This is a boost from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Monday, August 14th. Marathon Petroleum Corporation’s dividend payout ratio (DPR) is currently 90.91%.

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A number of equities analysts recently commented on the company. BidaskClub cut Marathon Petroleum Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. Cowen and Company raised their price objective on shares of Marathon Petroleum Corporation from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. US Capital Advisors restated a “buy” rating on shares of Marathon Petroleum Corporation in a research report on Monday, May 22nd. Citigroup Inc. restated a “buy” rating and set a $67.00 price objective (down from $68.50) on shares of Marathon Petroleum Corporation in a research report on Saturday, April 22nd. Finally, Zacks Investment Research downgraded shares of Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $58.62.

In related news, insider Thomas M. Kelley sold 25,000 shares of the 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP C. Michael Palmer sold 4,000 shares of the 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 transaction, the vice president now directly owns 61,757 shares of the company’s stock, valued at $3,288,560.25. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by company 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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