Infrastructure Capital Advisors LLC trimmed its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 95.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,381 shares of the oil and gas company’s stock after selling 85,328 shares during the period. Infrastructure Capital Advisors LLC’s holdings in Marathon Petroleum were worth $265,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the business. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new position in shares of Marathon Petroleum in the 2nd quarter worth about $25,000. Jacobi Capital Management LLC lifted its position in shares of Marathon Petroleum by 131.0% in the 2nd quarter. Jacobi Capital Management LLC now owns 462 shares of the oil and gas company’s stock worth $28,000 after buying an additional 262 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of Marathon Petroleum in the 1st quarter worth about $33,000. Mark Sheptoff Financial Planning LLC bought a new stake in Marathon Petroleum in the 2nd quarter valued at about $38,000. Finally, Corbenic Partners LLC lifted its position in Marathon Petroleum by 50.1% in the 2nd quarter. Corbenic Partners LLC now owns 638 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 213 shares during the last quarter. 76.24% of the stock is owned by institutional investors.
MPC has been the topic of several recent research reports. Barclays lifted their price objective on shares of Marathon Petroleum from $63.00 to $68.00 and gave the company an “overweight” rating in a research report on Thursday, October 7th. Wells Fargo & Company boosted their price target on shares of Marathon Petroleum from $66.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, June 24th. Citigroup boosted their price target on shares of Marathon Petroleum from $67.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, October 7th. Piper Sandler boosted their price target on shares of Marathon Petroleum from $66.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, September 16th. Finally, Morgan Stanley began coverage on shares of Marathon Petroleum in a research report on Tuesday, September 7th. They set an “overweight” rating and a $75.00 price target on the stock. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $70.33.
Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, August 3rd. The oil and gas company reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.28. The company had revenue of $29.83 billion for the quarter, compared to analysts’ expectations of $21.24 billion. Marathon Petroleum had a net margin of 8.42% and a negative return on equity of 3.09%. The business’s revenue was up 142.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.33) EPS. As a group, equities analysts anticipate that Marathon Petroleum Co. will post 1.26 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 10th. Stockholders of record on Wednesday, August 18th were given a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 3.49%. The ex-dividend date was Tuesday, August 17th. Marathon Petroleum’s dividend payout ratio (DPR) is currently -67.44%.
Marathon Petroleum Profile
Marathon Petroleum Corp. is an independent company, which engages in refining, marketing, and transportation of petroleum products in the United States. Itoperates through the following segments: Refining and Marketing; Retail; and Midstream. The Refining and Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States; purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals, and trucks that the company owns or operates.
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