Seaward Management Limited Partnership Continues to Hold Position in Marathon Petroleum Corp. (MPC)
Seaward Management Limited Partnership held its stake in shares of Marathon Petroleum Corp. (NYSE:MPC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,520 shares of the company’s stock at the end of the second quarter. Seaward Management Limited Partnership’s holdings in Marathon Petroleum Corp. were worth $513,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Fox Run Management L.L.C. bought a new position in Marathon Petroleum Corp. during the first quarter valued at approximately $323,000. Douglas Lane & Associates LLC bought a new position in Marathon Petroleum Corp. during the first quarter valued at approximately $22,827,000. New Century Investment Management Inc. raised its position in Marathon Petroleum Corp. by 1.1% in the first quarter. New Century Investment Management Inc. now owns 9,521 shares of the company’s stock valued at $354,000 after buying an additional 101 shares during the last quarter. Glenmede Trust Co. NA raised its position in Marathon Petroleum Corp. by 57.2% in the first quarter. Glenmede Trust Co. NA now owns 770,544 shares of the company’s stock valued at $28,647,000 after buying an additional 280,400 shares during the last quarter. Finally, Malaga Cove Capital LLC raised its position in Marathon Petroleum Corp. by 68.6% in the first quarter. Malaga Cove Capital LLC now owns 53,113 shares of the company’s stock valued at $1,975,000 after buying an additional 21,614 shares during the last quarter. 79.85% of the stock is owned by institutional investors and hedge funds.
Marathon Petroleum Corp. (NYSE:MPC) traded down 1.20% during trading on Thursday, reaching $42.69. The company had a trading volume of 5,651,250 shares. The stock has a market capitalization of $22.57 billion, a price-to-earnings ratio of 11.78 and a beta of 2.20. The firm has a 50-day moving average of $42.27 and a 200-day moving average of $38.35. Marathon Petroleum Corp. has a 1-year low of $29.24 and a 1-year high of $59.99.
Marathon Petroleum Corp. (NYSE:MPC) last posted its quarterly earnings results on Thursday, July 28th. The company reported $1.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.10. Marathon Petroleum Corp. had a return on equity of 10.94% and a net margin of 3.02%. The company had revenue of $16.81 billion for the quarter, compared to analysts’ expectations of $16.30 billion. During the same period last year, the firm earned $1.51 earnings per share. Marathon Petroleum Corp.’s quarterly revenue was down 18.4% on a year-over-year basis. On average, analysts anticipate that Marathon Petroleum Corp. will post $2.40 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Wednesday, August 17th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Monday, August 15th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.37%. This is a boost from Marathon Petroleum Corp.’s previous quarterly dividend of $0.32. Marathon Petroleum Corp.’s payout ratio is 39.78%.
Several research analysts have recently commented on the company. JPMorgan Chase & Co. reissued a “hold” rating on shares of Marathon Petroleum Corp. in a research report on Sunday, June 12th. Vetr upgraded Marathon Petroleum Corp. from a “buy” rating to a “strong-buy” rating and set a $46.33 target price on the stock in a research note on Monday, August 22nd. Goldman Sachs Group Inc. restated a “top pick” rating on shares of Marathon Petroleum Corp. in a research note on Thursday, June 30th. Zacks Investment Research downgraded Marathon Petroleum Corp. from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 13th. Finally, TheStreet upgraded Marathon Petroleum Corp. from a “hold” rating to a “buy” rating in a research note on Monday, August 8th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $53.05.
Marathon Petroleum Corp. Company Profile
Marathon Petroleum Corporation is engaged in petroleum product refining, marketing, retail and transportation businesses in the United States and the east of the Mississippi. The Company’s segments include Refining & Marketing, Speedway, and Midstream. Its Refining & Marketing segment refines crude oil and other feedstocks at its approximately seven refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products.
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