Cigna Investments Inc. New Has $1.38 Million Position in Marathon Petroleum Corporation (MPC)
Cigna Investments Inc. New boosted its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 21.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,370 shares of the oil and gas company’s stock after buying an additional 4,677 shares during the period. Cigna Investments Inc. New’s holdings in Marathon Petroleum Corporation were worth $1,380,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Guardian Life Insurance Co. of America raised 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 during the last quarter. FTB Advisors Inc. raised 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 during the last quarter. Lee Financial Co raised its position in 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 worth $107,000 after buying an additional 48 shares during the last quarter. Carroll Financial Associates Inc. raised 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 during the last quarter. Finally, Jacobi Capital Management LLC raised 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 during the last quarter. 81.58% of the stock is owned by hedge funds and other institutional investors.
Marathon Petroleum Corporation (MPC) opened at 52.99 on Thursday. The stock has a market capitalization of $26.81 billion, a P/E ratio of 30.51 and a beta of 1.56. The company’s 50-day moving average is $54.10 and its 200-day moving average is $51.61. Marathon Petroleum Corporation has a 12 month low of $39.29 and a 12 month high of $56.81.
Marathon Petroleum Corporation (NYSE:MPC) last announced its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by $0.01. The firm 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 in the prior year, the business earned $1.07 earnings per share. Equities analysts anticipate that Marathon Petroleum Corporation will post $2.73 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Wednesday, August 16th will be issued a dividend of $0.40 per share. This is an increase from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a yield of 3.02%. The ex-dividend date is Monday, August 14th. Marathon Petroleum Corporation’s dividend payout ratio (DPR) is 81.82%.
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MPC has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a research report on Monday. Jefferies Group LLC restated a “buy” rating and set a $54.83 price target (down from $65.00) on shares of Marathon Petroleum Corporation in a research report on Thursday, July 20th. Scotiabank set a $55.00 price target on shares of Marathon Petroleum Corporation and gave the stock a “hold” rating in a research report on Tuesday, July 11th. Piper Jaffray Companies restated an “overweight” rating and set a $62.00 price target on shares of Marathon Petroleum Corporation in a research report on Thursday, May 25th. Finally, BidaskClub downgraded shares of Marathon Petroleum Corporation from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $58.62.
In other Marathon Petroleum Corporation news, VP C. Michael Palmer sold 4,568 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $52.04, for a total transaction of $237,718.72. Following the sale, the vice president now directly owns 62,325 shares in the company, valued at approximately $3,243,393. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas M. Kelley sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The stock was 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. Insiders have sold a total of 33,568 shares of company stock worth $1,808,969 over the last 90 days. Corporate 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.
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