InterOcean Capital LLC Sells 4,400 Shares of Marathon Petroleum Corporation (MPC)
InterOcean Capital LLC cut its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 18.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,101 shares of the oil and gas company’s stock after selling 4,400 shares during the period. InterOcean Capital LLC’s holdings in Marathon Petroleum were worth $1,071,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Blue Chip Partners Inc. acquired a new position in Marathon Petroleum during the second quarter valued at approximately $100,000. Lee Financial Co boosted its position in Marathon Petroleum by 2.4% during the second quarter. Lee Financial Co now owns 2,048 shares of the oil and gas company’s stock valued at $107,000 after purchasing an additional 48 shares during the last quarter. Crow Point Partners LLC acquired a new position in Marathon Petroleum during the third quarter valued at approximately $128,000. First Interstate Bank boosted its position in Marathon Petroleum by 81.1% during the second quarter. First Interstate Bank now owns 2,376 shares of the oil and gas company’s stock valued at $124,000 after purchasing an additional 1,064 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in Marathon Petroleum during the third quarter valued at approximately $135,000. 80.83% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently issued reports on MPC. BidaskClub cut Marathon Petroleum from a “hold” rating to a “sell” rating in a research report on Saturday, August 19th. Jefferies Group set a $65.00 price objective on Marathon Petroleum and gave the company a “buy” rating in a research report on Friday, August 25th. Zacks Investment Research raised Marathon Petroleum from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Goldman Sachs Group cut Marathon Petroleum from a “buy” rating to a “neutral” rating and set a $63.00 price objective for the company. in a research report on Tuesday, October 3rd. They noted that the move was a valuation call. Finally, Cowen raised their price objective on Marathon Petroleum from $60.00 to $79.00 and gave the company an “outperform” rating in a research report on Tuesday, November 14th. They noted that the move was a valuation call. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $65.54.
Marathon Petroleum Corporation (MPC) traded up $0.34 on Wednesday, hitting $62.22. The stock had a trading volume of 2,889,900 shares, compared to its average volume of 4,368,989. The firm has a market capitalization of $30,390.00, a PE ratio of 18.85, a price-to-earnings-growth ratio of 1.53 and a beta of 1.60. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.80 and a current ratio of 1.52. Marathon Petroleum Corporation has a 52 week low of $44.60 and a 52 week high of $63.41.
Marathon Petroleum (NYSE:MPC) last announced its earnings results on Thursday, October 26th. The oil and gas company reported $1.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.48 by $0.29. The company had revenue of $19.36 billion for the quarter, compared to analyst estimates of $19.38 billion. Marathon Petroleum had a return on equity of 8.52% and a net margin of 2.35%. The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.58 earnings per share. analysts forecast that Marathon Petroleum Corporation will post 3.68 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Thursday, November 16th will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, November 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.57%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 50.00%.
In other news, VP C. Michael Palmer sold 11,450 shares of the stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $53.02, for a total transaction of $607,079.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Anthony R. Kenney sold 77,578 shares of the stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $62.35, for a total value of $4,836,988.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 102,028 shares of company stock worth $6,253,447. 1.05% of the stock is owned by corporate insiders.
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Marathon Petroleum 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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