AMF Pensionsforsakring AB maintained its stake in Marathon Petroleum Corporation (NYSE:MPC) during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 526,410 shares of the oil and gas company’s stock at the end of the second quarter. AMF Pensionsforsakring AB owned about 0.10% of Marathon Petroleum Corporation worth $26,605,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Marathon Petroleum Corporation by 2,779.4% in the first quarter. BlackRock Inc. now owns 56,121,367 shares of the oil and gas company’s stock valued at $2,836,372,000 after buying an additional 54,172,304 shares during the period. Vanguard Group Inc. boosted its position in Marathon Petroleum Corporation by 4.3% in the first quarter. Vanguard Group Inc. now owns 37,711,603 shares of the oil and gas company’s stock valued at $1,905,944,000 after buying an additional 1,549,473 shares during the last quarter. State Street Corp boosted its position in Marathon Petroleum Corporation by 0.4% in the first quarter. State Street Corp now owns 28,029,983 shares of the oil and gas company’s stock valued at $1,416,636,000 after buying an additional 107,894 shares during the last quarter. Boston Partners boosted its position in Marathon Petroleum Corporation by 1.8% in the first quarter. Boston Partners now owns 14,798,820 shares of the oil and gas company’s stock valued at $747,933,000 after buying an additional 267,469 shares during the last quarter. Finally, Kensico Capital Management Corp boosted its position in Marathon Petroleum Corporation by 7.7% in the first quarter. Kensico Capital Management Corp now owns 9,260,000 shares of the oil and gas company’s stock valued at $468,000,000 after buying an additional 660,000 shares during the last quarter. Institutional investors and hedge funds own 81.58% of the company’s stock.
Shares of Marathon Petroleum Corporation (NYSE:MPC) traded down 0.84% during midday trading on Tuesday, hitting $54.44. The company had a trading volume of 2,312,629 shares. Marathon Petroleum Corporation has a one year low of $39.29 and a one year high of $56.81. The company’s 50 day moving average is $54.06 and its 200 day moving average is $51.47. The firm has a market cap of $27.55 billion, a price-to-earnings ratio of 31.34 and a beta of 1.56.
Marathon Petroleum Corporation (NYSE:MPC) last posted its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.04 by $0.01. Marathon Petroleum Corporation had a return on equity of 5.52% and a net margin of 1.34%. The business had revenue of $18.35 billion for the quarter, compared to analyst estimates of $19.98 billion. During the same period in the prior year, the firm posted $1.07 EPS. Marathon Petroleum Corporation’s revenue for the quarter was up 9.3% on a year-over-year basis. Equities analysts forecast that Marathon Petroleum Corporation will post $2.73 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Wednesday, August 16th will be issued a $0.40 dividend. This is a boost from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. The ex-dividend date is Monday, August 14th. This represents a $1.60 annualized dividend and a yield of 2.94%. Marathon Petroleum Corporation’s dividend payout ratio is 81.82%.
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Several research firms have weighed in on MPC. Zacks Investment Research raised Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a report on Monday. Jefferies Group LLC reissued a “buy” rating and issued a $54.83 target price (down previously from $65.00) on shares of Marathon Petroleum Corporation in a report on Thursday, July 20th. Scotiabank set a $55.00 target price on Marathon Petroleum Corporation and gave the company a “hold” rating in a report on Tuesday, July 11th. Piper Jaffray Companies reissued an “overweight” rating and issued a $62.00 target price on shares of Marathon Petroleum Corporation in a report on Thursday, May 25th. Finally, BidaskClub raised Marathon Petroleum Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 1st. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $58.62.
In other Marathon Petroleum Corporation news, insider Thomas M. Kelley sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $54.33, for a total value of $1,358,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP C. Michael Palmer sold 4,568 shares of the company’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $52.04, for a total value of $237,718.72. Following the completion of the sale, the vice president now owns 62,325 shares in the company, valued at $3,243,393. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,568 shares of company stock valued at $1,808,969. Insiders own 1.05% of the company’s stock.
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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