Marathon Petroleum Corporation (MPC) Stake Held by Steinberg Global Asset Management

Steinberg Global Asset Management held its stake 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 institutional investor owned 16,750 shares of the oil and gas company’s stock at the end of the second quarter. Steinberg Global Asset Management’s holdings in Marathon Petroleum Corporation were worth $877,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Guardian Life Insurance Co. of America raised 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 in the last quarter. FTB Advisors Inc. raised 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 in the last quarter. Carroll Financial Associates Inc. raised 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 in the last quarter. Jacobi Capital Management LLC raised 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 in the last quarter. Finally, Tarbox Group Inc. raised its position 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 in the last quarter. Hedge funds and other institutional investors own 81.36% of the company’s stock.

Shares of Marathon Petroleum Corporation (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’s 50-day moving average price is $54.03 and its 200 day moving average price is $51.70. The firm has a market capitalization of $25.37 billion, a price-to-earnings ratio of 29.88 and a beta of 1.56.

Marathon Petroleum Corporation (NYSE:MPC) last issued 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. 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%. The business’s revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.07 EPS. On average, equities research analysts forecast that Marathon Petroleum Corporation will post $2.75 EPS for the current fiscal 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 given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.19%. The ex-dividend date is Monday, August 14th. This is a boost from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. Marathon Petroleum Corporation’s payout ratio is 90.91%.

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Several research analysts recently issued reports on the company. BidaskClub raised Marathon Petroleum Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 1st. Zacks Investment Research raised Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Cowen and Company upped their target price on Marathon Petroleum Corporation from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, July 27th. Jefferies Group LLC reaffirmed a “buy” rating and set a $54.83 target price (down from $65.00) on shares of Marathon Petroleum Corporation in a research report on Thursday, July 20th. Finally, Scotiabank set a $55.00 target price on Marathon Petroleum Corporation and gave the company a “hold” rating in a research report on Tuesday, July 11th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $58.62.

In related news, VP C. Michael Palmer sold 4,000 shares of the business’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 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thomas M. Kelley sold 25,000 shares of the business’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 own 1.05% of the company’s stock.

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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