Marathon Petroleum Corporation (MPC) Shares Bought by Rhumbline Advisers
Rhumbline Advisers raised its position in Marathon Petroleum Corporation (NYSE:MPC) by 0.4% during the second quarter, Holdings Channel reports. The fund owned 926,793 shares of the oil and gas company’s stock after buying an additional 3,896 shares during the period. Rhumbline Advisers’ holdings in Marathon Petroleum Corporation were worth $48,499,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of MPC. Cullinan Associates Inc. boosted its position in Marathon Petroleum Corporation by 0.9% in the first quarter. Cullinan Associates Inc. now owns 129,810 shares of the oil and gas company’s stock worth $6,561,000 after buying an additional 1,182 shares during the last quarter. Blockhouse Capital Management LP acquired a new position in Marathon Petroleum Corporation during the first quarter worth approximately $14,970,000. Hartford Investment Management Co. boosted its position in Marathon Petroleum Corporation by 13.2% in the first quarter. Hartford Investment Management Co. now owns 147,217 shares of the oil and gas company’s stock worth $7,440,000 after buying an additional 17,182 shares during the last quarter. Buckingham Asset Management LLC boosted its position in Marathon Petroleum Corporation by 2.1% in the first quarter. Buckingham Asset Management LLC now owns 4,141 shares of the oil and gas company’s stock worth $209,000 after buying an additional 87 shares during the last quarter. Finally, Bank of The West boosted its position in Marathon Petroleum Corporation by 28.4% in the first quarter. Bank of The West now owns 49,717 shares of the oil and gas company’s stock worth $2,512,000 after buying an additional 10,990 shares during the last quarter. Institutional investors and hedge funds own 81.58% of the company’s stock.
Shares of Marathon Petroleum Corporation (NYSE:MPC) opened at 52.16 on Friday. The firm has a market capitalization of $26.41 billion, a P/E ratio of 31.10 and a beta of 1.56. The stock has a 50 day moving average of $54.14 and a 200-day moving average of $51.64. Marathon Petroleum Corporation has a 52-week low of $39.29 and a 52-week high of $56.81.
Marathon Petroleum Corporation (NYSE:MPC) last released its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $1.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by $0.01. The business had revenue of $18.35 billion during the quarter, compared to the consensus estimate of $19.98 billion. Marathon Petroleum Corporation had a return on equity of 5.52% and a net margin of 1.34%. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period last year, the business posted $1.07 earnings per share. Equities analysts expect that Marathon Petroleum Corporation will post $2.74 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Investors 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 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 3.07%. Marathon Petroleum Corporation’s dividend payout ratio (DPR) is 81.82%.
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MPC has been the subject of a number of research analyst reports. Jefferies Group LLC reiterated a “buy” rating and set a $61.00 price target on shares of Marathon Petroleum Corporation in a report on Wednesday, April 19th. Scotiabank reiterated a “hold” rating and set a $54.00 price target on shares of Marathon Petroleum Corporation in a report on Friday, April 28th. Credit Suisse Group reiterated a “buy” rating and set a $64.00 price target on shares of Marathon Petroleum Corporation in a report on Friday, July 14th. BidaskClub upgraded Marathon Petroleum Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. Finally, Royal Bank Of Canada restated a “buy” rating and set a $69.00 price objective on shares of Marathon Petroleum Corporation in a report on Thursday, June 1st. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $58.62.
In related news, insider Thomas M. Kelley sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $54.33, for a total value of $1,358,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP C. Michael Palmer sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $53.25, for a total transaction of $213,000.00. Following the completion of the transaction, the vice president now directly owns 61,757 shares of the company’s stock, valued at $3,288,560.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,568 shares of company stock valued at $1,808,969. 1.05% of the stock is owned by 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.
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