CrestPoint Capital Management LLC Boosts Stake in Marathon Petroleum Corp. (MPC)
CrestPoint Capital Management LLC raised its stake in Marathon Petroleum Corp. (NYSE:MPC) by 119.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,900 shares of the company’s stock after buying an additional 31,000 shares during the period. Marathon Petroleum Corp. accounts for about 1.2% of CrestPoint Capital Management LLC’s portfolio, making the stock its 15th largest position. CrestPoint Capital Management LLC’s holdings in Marathon Petroleum Corp. were worth $2,310,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Spirit of America Management Corp NY increased its position in shares of Marathon Petroleum Corp. by 12.2% in the third quarter. Spirit of America Management Corp NY now owns 24,750 shares of the company’s stock valued at $1,005,000 after buying an additional 2,700 shares during the last quarter. Charter Trust Co. increased its stake in shares of Marathon Petroleum Corp. by 6.5% in the third quarter. Charter Trust Co. now owns 19,546 shares of the company’s stock valued at $793,000 after buying an additional 1,186 shares during the last quarter. Gierl Augustine Investment Management Inc increased its stake in shares of Marathon Petroleum Corp. by 26.5% in the third quarter. Gierl Augustine Investment Management Inc now owns 3,952 shares of the company’s stock valued at $160,000 after buying an additional 828 shares during the last quarter. National Pension Service increased its stake in shares of Marathon Petroleum Corp. by 8.2% in the third quarter. National Pension Service now owns 429,300 shares of the company’s stock valued at $17,425,000 after buying an additional 32,501 shares during the last quarter. Finally, MSI Financial Services Inc increased its stake in shares of Marathon Petroleum Corp. by 7.9% in the third quarter. MSI Financial Services Inc now owns 16,116 shares of the company’s stock valued at $654,000 after buying an additional 1,183 shares during the last quarter. 77.68% of the stock is currently owned by institutional investors.
Marathon Petroleum Corp. (NYSE:MPC) traded up 2.26% during midday trading on Wednesday, reaching $47.02. 11,079,852 shares of the company were exchanged. The stock has a market capitalization of $24.82 billion, a price-to-earnings ratio of 22.14 and a beta of 1.80. The firm’s 50-day moving average price is $43.58 and its 200 day moving average price is $40.18. Marathon Petroleum Corp. has a 52-week low of $29.24 and a 52-week high of $59.99.
Marathon Petroleum Corp. (NYSE:MPC) last announced its earnings results on Thursday, October 27th. The company reported $0.58 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.81 by $0.23. The company earned $16.46 billion during the quarter, compared to the consensus estimate of $17.18 billion. Marathon Petroleum Corp. had a net margin of 1.84% and a return on equity of 6.74%. The business’s quarterly revenue was down 11.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.76 EPS. Equities analysts predict that Marathon Petroleum Corp. will post $2.05 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Wednesday, November 16th will be given a $0.36 dividend. The ex-dividend date of this dividend is Monday, November 14th. This represents a $1.44 dividend on an annualized basis and a yield of 3.06%. Marathon Petroleum Corp.’s dividend payout ratio is presently 67.61%.
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MPC has been the topic of several analyst reports. Piper Jaffray Cos. lifted their target price on shares of Marathon Petroleum Corp. from $35.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, August 22nd. Vetr downgraded shares of Marathon Petroleum Corp. from a “strong-buy” rating to a “buy” rating and set a $46.33 target price on the stock. in a report on Monday, August 8th. Jefferies Group initiated coverage on shares of Marathon Petroleum Corp. in a report on Tuesday, August 23rd. They issued a “buy” rating and a $48.00 target price on the stock. Zacks Investment Research raised shares of Marathon Petroleum Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, August 16th. Finally, Raymond James Financial Inc. raised shares of Marathon Petroleum Corp. from an “outperform” rating to a “strong-buy” rating and lifted their target price for the company from $47.00 to $54.00 in a report on Monday, October 31st. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $52.30.
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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