Chemical Bank Has $1.66 Million Stake in Marathon Petroleum Corporation (MPC)
Chemical Bank decreased its position in Marathon Petroleum Corporation (NYSE:MPC) by 0.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 31,730 shares of the oil and gas company’s stock after selling 150 shares during the quarter. Chemical Bank’s holdings in Marathon Petroleum Corporation were worth $1,660,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blockhouse Capital Management LP bought a new stake in shares of Marathon Petroleum Corporation in the 1st quarter worth about $14,970,000. OMERS ADMINISTRATION Corp grew its holdings in shares of Marathon Petroleum Corporation by 341.7% in the 2nd quarter. OMERS ADMINISTRATION Corp now owns 53,000 shares of the oil and gas company’s stock worth $2,773,000 after purchasing an additional 41,000 shares during the last quarter. Fox Run Management L.L.C. grew its holdings in shares of Marathon Petroleum Corporation by 143.6% in the 2nd quarter. Fox Run Management L.L.C. now owns 26,800 shares of the oil and gas company’s stock worth $1,402,000 after purchasing an additional 15,800 shares during the last quarter. Heritage Way Advisors LLC grew its holdings in shares of Marathon Petroleum Corporation by 2.4% in the 2nd quarter. Heritage Way Advisors LLC now owns 36,975 shares of the oil and gas company’s stock worth $1,935,000 after purchasing an additional 850 shares during the last quarter. Finally, Buckingham Asset Management LLC grew its holdings in shares of Marathon Petroleum Corporation by 2.1% in the 1st quarter. Buckingham Asset Management LLC now owns 4,141 shares of the oil and gas company’s stock worth $209,000 after purchasing an additional 87 shares during the last quarter. 78.85% of the stock is currently owned by institutional investors and hedge funds.
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Marathon Petroleum Corporation (NYSE:MPC) traded down 1.06% on Wednesday, reaching $53.20. 1,192,853 shares of the company’s stock were exchanged. The company has a market cap of $26.93 billion, a price-to-earnings ratio of 31.72 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 is $53.13 and its 200 day moving average is $52.01.
Marathon Petroleum Corporation (NYSE:MPC) last released its earnings results on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, missing the Zacks’ 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 the consensus estimate of $19.98 billion. During the same quarter in the prior year, the firm earned $1.07 EPS. The business’s revenue was up 9.3% on a year-over-year basis. On average, equities analysts anticipate that Marathon Petroleum Corporation will post $2.90 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Wednesday, August 16th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date was Monday, August 14th. This is a boost from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. Marathon Petroleum Corporation’s payout ratio is currently 90.91%.
Several equities research analysts have recently weighed in on MPC shares. US Capital Advisors reaffirmed a “buy” rating on shares of Marathon Petroleum Corporation in a report on Monday, May 22nd. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $62.00 target price on shares of Marathon Petroleum Corporation in a report on Thursday, May 25th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $69.00 target price on shares of Marathon Petroleum Corporation in a report on Thursday, June 1st. BidaskClub lowered shares of Marathon Petroleum Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. Finally, Scotiabank set a $55.00 target price on shares of Marathon Petroleum Corporation and gave the stock a “hold” rating in a report on Tuesday, July 11th. Six investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $59.67.
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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