Marathon Petroleum Corporation (NYSE:MPC) Shares Bought by FineMark National Bank & Trust

FineMark National Bank & Trust boosted its position in Marathon Petroleum Corporation (NYSE:MPC) by 6.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 110,965 shares of the oil and gas company’s stock after buying an additional 6,393 shares during the period. FineMark National Bank & Trust’s holdings in Marathon Petroleum Corporation were worth $5,807,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MPC. Guardian Life Insurance Co. of America increased its position in 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 worth $103,000 after buying an additional 14 shares in the last quarter. FTB Advisors Inc. increased its position in 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 worth $104,000 after buying an additional 1,697 shares in the last quarter. Carroll Financial Associates Inc. increased its position in 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 worth $115,000 after buying an additional 250 shares in the last quarter. Jacobi Capital Management LLC increased its position in 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 worth $116,000 after buying an additional 570 shares in the last quarter. Finally, Tarbox Group Inc. increased its position in 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 worth $122,000 after buying an additional 36 shares in the last quarter. Institutional investors and hedge funds own 81.36% of the company’s stock.

Shares of Marathon Petroleum Corporation (NYSE MPC) opened at 50.11 on Friday. Marathon Petroleum Corporation has a 12 month low of $39.29 and a 12 month high of $56.81. The company has a market cap of $25.37 billion, a price-to-earnings ratio of 29.88 and a beta of 1.56. The company’s 50-day moving average price is $54.03 and its 200-day moving average price is $51.70.

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 consensus estimate of $1.04 by $0.01. The company 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 firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.07 EPS. Analysts anticipate that Marathon Petroleum Corporation will post $2.75 EPS for the current year.

The business 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. The ex-dividend date of this dividend is Monday, August 14th. This represents a $1.60 annualized dividend and a yield of 3.19%. This is a boost from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. Marathon Petroleum Corporation’s payout ratio is presently 90.91%.

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A number of research analysts have weighed in on the company. Cowen and Company raised their price target 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. Scotiabank set a $55.00 price objective on Marathon Petroleum Corporation and gave the company a “hold” rating in a research report on Tuesday, July 11th. BidaskClub raised Marathon Petroleum Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Zacks Investment Research cut Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $62.00 price objective on shares of Marathon Petroleum Corporation in a research report on Thursday, May 25th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Marathon Petroleum Corporation 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 company’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $53.25, for a total transaction of $213,000.00. Following the sale, the vice president now directly 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 can be accessed through this link. Also, insider Thomas M. Kelley sold 25,000 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $54.33, for a total transaction of $1,358,250.00. The disclosure for this sale can be found here. 1.05% of the stock is 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.

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

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