Foundry Partners LLC Increases Stake in Marathon Petroleum Corporation (MPC)
Foundry Partners LLC boosted its position in Marathon Petroleum Corporation (NYSE:MPC) by 3.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 259,946 shares of the oil and gas company’s stock after buying an additional 8,600 shares during the period. Foundry Partners LLC’s holdings in Marathon Petroleum Corporation were worth $13,603,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Marathon Petroleum Corporation by 2,779.4% in the first quarter. BlackRock Inc. now owns 56,121,367 shares of the oil and gas company’s stock worth $2,836,372,000 after buying an additional 54,172,304 shares during the period. Iridian Asset Management LLC CT boosted its position in Marathon Petroleum Corporation by 209.4% in the first quarter. Iridian Asset Management LLC CT now owns 7,707,619 shares of the oil and gas company’s stock worth $389,543,000 after buying an additional 5,216,764 shares during the period. American Century Companies Inc. boosted its position in Marathon Petroleum Corporation by 8,254.8% in the first quarter. American Century Companies Inc. now owns 2,042,740 shares of the oil and gas company’s stock worth $103,240,000 after buying an additional 2,018,290 shares during the period. FMR LLC boosted its position in Marathon Petroleum Corporation by 109.5% in the first quarter. FMR LLC now owns 3,685,652 shares of the oil and gas company’s stock worth $186,273,000 after buying an additional 1,926,573 shares during the period. Finally, Alliancebernstein L.P. boosted its position in Marathon Petroleum Corporation by 201.9% in the first quarter. Alliancebernstein L.P. now owns 2,758,794 shares of the oil and gas company’s stock worth $139,429,000 after buying an additional 1,844,941 shares during the period. Institutional investors own 81.58% of the company’s stock.
Marathon Petroleum Corporation (MPC) opened at 52.21 on Friday. The stock has a market cap of $26.43 billion, a price-to-earnings ratio of 31.13 and a beta of 1.56. The company has a 50-day moving average price of $54.11 and a 200 day moving average price of $51.62. 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 issued its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by $0.01. Marathon Petroleum Corporation had a return on equity of 5.52% and a net margin of 1.34%. The firm had revenue of $18.35 billion during the quarter, compared to analyst estimates of $19.98 billion. During the same quarter in the prior year, the firm earned $1.07 EPS. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, equities research analysts predict that Marathon Petroleum Corporation will post $2.74 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Wednesday, August 16th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, August 14th. This represents a $1.60 dividend on an annualized basis and a yield of 3.06%. This is a positive change from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. Marathon Petroleum Corporation’s payout ratio is currently 81.82%.
WARNING: This piece was posted by Daily Political and is the property of of Daily Political. If you are accessing this piece on another website, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The legal version of this piece can be accessed at https://www.dailypolitical.com/2017/08/11/foundry-partners-llc-increases-stake-in-marathon-petroleum-corporation-mpc.html.
MPC has been the topic of a number of research reports. Citigroup Inc. restated a “buy” rating and set a $67.00 price target (down from $68.50) on shares of Marathon Petroleum Corporation in a research note on Saturday, April 22nd. Royal Bank Of Canada restated a “buy” rating and set a $69.00 price target on shares of Marathon Petroleum Corporation in a research note on Thursday, June 1st. Zacks Investment Research cut Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Scotiabank set a $55.00 price target on Marathon Petroleum Corporation and gave the stock a “hold” rating in a research note on Tuesday, July 11th. Finally, Credit Suisse Group restated a “buy” rating and set a $64.00 price target on shares of Marathon Petroleum Corporation in a research note on Friday, July 14th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $58.62.
In other Marathon Petroleum Corporation news, VP C. Michael Palmer sold 4,000 shares of the business’s stock in a transaction on Wednesday, May 24th. The shares were 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas M. Kelley sold 25,000 shares of the business’s stock in a transaction 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 sold a total of 33,568 shares of company stock worth $1,808,969 in the last quarter. 1.05% of the stock is currently owned by company insiders.
Marathon Petroleum Corporation Company Profile
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.
Want to see what other hedge funds are holding MPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Petroleum Corporation (NYSE:MPC).
Receive News & Ratings for Marathon Petroleum Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marathon Petroleum Corporation and related companies with MarketBeat.com's FREE daily email newsletter.