Marathon Petroleum Corporation (MPC) Holdings Held by Teachers Retirement System of The State of Kentucky
Teachers Retirement System of The State of Kentucky maintained its position in Marathon Petroleum Corporation (NYSE:MPC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 371,624 shares of the oil and gas company’s stock at the close of the 2nd quarter. Teachers Retirement System of The State of Kentucky owned 0.07% of Marathon Petroleum Corporation worth $19,447,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blue Chip Partners Inc. acquired a new position in Marathon Petroleum Corporation in the second quarter valued at about $100,000. Guardian Life Insurance Co. of America grew its stake 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 valued at $103,000 after acquiring an additional 14 shares during the period. Lee Financial Co grew its stake 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 valued at $107,000 after acquiring an additional 48 shares during the period. Jacobi Capital Management LLC grew its stake 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 valued at $116,000 after acquiring an additional 570 shares during the period. Finally, First Interstate Bank grew its stake in Marathon Petroleum Corporation by 81.1% in the second quarter. First Interstate Bank now owns 2,376 shares of the oil and gas company’s stock valued at $124,000 after acquiring an additional 1,064 shares during the period. Institutional investors and hedge funds own 78.25% of the company’s stock.
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In other Marathon Petroleum Corporation news, VP C. Michael Palmer sold 11,450 shares of Marathon Petroleum Corporation stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $53.02, for a total transaction of $607,079.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.05% of the stock is currently owned by insiders.
A number of research analysts have issued reports on the company. Jefferies Group LLC reissued a “buy” rating and issued a $64.00 target price (down from $65.00) on shares of Marathon Petroleum Corporation in a research note on Wednesday, September 6th. Wells Fargo & Company cut Marathon Petroleum Corporation from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $65.00 to $56.00 in a research note on Tuesday, September 5th. Bank of America Corporation cut Marathon Petroleum Corporation from a “buy” rating to a “neutral” rating in a research note on Tuesday, September 5th. ValuEngine raised Marathon Petroleum Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Scotiabank reissued a “hold” rating and issued a $55.00 target price on shares of Marathon Petroleum Corporation in a research note on Friday, September 1st. Six research 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. Marathon Petroleum Corporation currently has a consensus rating of “Buy” and a consensus price target of $59.67.
Marathon Petroleum Corporation (MPC) traded up 1.52% during mid-day trading on Monday, reaching $55.56. The company had a trading volume of 786,012 shares. Marathon Petroleum Corporation has a one year low of $39.29 and a one year high of $56.81. The company has a market capitalization of $29.32 billion, a P/E ratio of 25.14 and a beta of 1.56. The stock has a 50 day moving average price of $52.72 and a 200 day moving average price of $52.13.
Marathon Petroleum Corporation (NYSE:MPC) last released its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.01). The company had revenue of $18.35 billion for 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%. Marathon Petroleum Corporation’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.07 EPS. On average, equities analysts expect that Marathon Petroleum Corporation will post $2.95 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Wednesday, August 16th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, August 14th. This represents a $1.60 dividend on an annualized basis and a yield of 2.92%. This is an increase from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. Marathon Petroleum Corporation’s payout ratio is 90.91%.
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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