AMG Funds LLC grew its position in Marathon Petroleum Corporation (NYSE:MPC) by 1.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,148 shares of the oil and gas company’s stock after buying an additional 606 shares during the period. Marathon Petroleum Corporation accounts for approximately 1.5% of AMG Funds LLC’s investment portfolio, making the stock its 7th largest position. AMG Funds LLC’s holdings in Marathon Petroleum Corporation were worth $2,729,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Blue Chip Partners Inc. purchased a new stake in shares of Marathon Petroleum Corporation in the 2nd quarter valued at approximately $100,000. Guardian Life Insurance Co. of America grew its stake in shares of Marathon Petroleum Corporation by 0.7% in the 1st 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 buying an additional 14 shares during the period. FTB Advisors Inc. grew its stake in shares of Marathon Petroleum Corporation by 484.9% in the 1st quarter. FTB Advisors Inc. now owns 2,047 shares of the oil and gas company’s stock valued at $104,000 after buying an additional 1,697 shares during the period. Lee Financial Co grew its stake in shares of Marathon Petroleum Corporation by 2.4% in the 2nd quarter. Lee Financial Co now owns 2,048 shares of the oil and gas company’s stock valued at $107,000 after buying an additional 48 shares during the period. Finally, Jacobi Capital Management LLC grew its stake in shares of Marathon Petroleum Corporation by 32.2% in the 1st quarter. Jacobi Capital Management LLC now owns 2,340 shares of the oil and gas company’s stock valued at $116,000 after buying an additional 570 shares during the period. 78.85% of the stock is owned by institutional investors and hedge funds.
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Several equities analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a report on Monday, August 7th. BidaskClub upgraded shares of Marathon Petroleum Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. Jefferies Group LLC restated a “buy” rating and issued a $54.83 price objective (down from $65.00) on shares of Marathon Petroleum Corporation in a report on Thursday, July 20th. Cowen and Company upped their price objective on shares of Marathon Petroleum Corporation from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. Finally, US Capital Advisors restated a “buy” rating on shares of Marathon Petroleum Corporation in a report on Monday, May 22nd. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $59.67.
Shares of Marathon Petroleum Corporation (NYSE:MPC) traded up 0.88% during midday trading on Friday, hitting $52.80. 2,292,842 shares of the company’s stock were exchanged. Marathon Petroleum Corporation has a 1-year low of $39.29 and a 1-year high of $56.81. The stock has a market cap of $26.73 billion, a PE ratio of 31.48 and a beta of 1.56. The stock’s 50 day moving average is $52.91 and its 200-day moving average is $52.05.
Marathon Petroleum Corporation (NYSE:MPC) last announced its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.01). The firm had revenue of $18.35 billion during the quarter, compared to the consensus estimate of $19.98 billion. Marathon Petroleum Corporation had a return on equity of 5.52% and a net margin of 1.34%. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.07 EPS. Analysts predict that Marathon Petroleum Corporation will post $2.90 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Wednesday, August 16th were paid a $0.40 dividend. The ex-dividend date of this dividend was Monday, August 14th. This represents a $1.60 annualized dividend and a yield of 3.06%. This is an increase from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. Marathon Petroleum Corporation’s dividend payout ratio (DPR) is presently 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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