Marathon Petroleum Corporation (MPC) Position Trimmed by Raymond James Trust N.A.
Raymond James Trust N.A. decreased its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 1.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 128,749 shares of the oil and gas company’s stock after selling 1,762 shares during the quarter. Raymond James Trust N.A.’s holdings in Marathon Petroleum Corporation were worth $6,737,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the stock. Blue Chip Partners Inc. acquired a new position in Marathon Petroleum Corporation during the second quarter worth approximately $100,000. Guardian Life Insurance Co. of America increased its position in Marathon Petroleum Corporation by 0.7% during 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 period. FTB Advisors Inc. increased its position in Marathon Petroleum Corporation by 484.9% during 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 period. Lee Financial Co increased its position in Marathon Petroleum Corporation by 2.4% during 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 period. Finally, Jacobi Capital Management LLC increased its position in Marathon Petroleum Corporation by 32.2% during 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 period. Hedge funds and other institutional investors own 78.85% of the company’s stock.
Several research analysts have commented on the company. Cowen and Company lifted their price target on Marathon Petroleum Corporation from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report 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 report on Tuesday, July 11th. BidaskClub raised Marathon Petroleum Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Zacks Investment Research lowered Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and set a $62.00 price target on shares of Marathon Petroleum Corporation in a research report on Thursday, May 25th. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. Marathon Petroleum Corporation presently has a consensus rating of “Buy” and a consensus price target of $59.16.
Marathon Petroleum Corporation (NYSE:MPC) traded up 0.02% during mid-day trading on Tuesday, hitting $53.76. The company had a trading volume of 873,094 shares. The firm has a market cap of $27.22 billion, a P/E ratio of 32.06 and a beta of 1.56. Marathon Petroleum Corporation has a 52-week low of $39.29 and a 52-week high of $56.81. The stock’s 50 day moving average price is $53.11 and its 200 day moving average price is $52.00.
Marathon Petroleum Corporation (NYSE:MPC) last posted its earnings results on Thursday, July 27th. The oil and gas company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.01). Marathon Petroleum Corporation had a net margin of 1.34% and a return on equity of 5.52%. The business 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 business earned $1.07 earnings per share. The firm’s revenue was up 9.3% compared to the same quarter last year. On average, equities research analysts predict that Marathon Petroleum Corporation will post $2.90 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Wednesday, August 16th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, August 14th. This is a boost from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a dividend yield of 2.98%. Marathon Petroleum Corporation’s dividend payout ratio (DPR) is 90.91%.
In other news, insider Thomas M. Kelley sold 25,000 shares of Marathon Petroleum Corporation 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.05% of the stock is currently owned by company insiders.
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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