Trust Co. of Virginia VA reduced its stake in Marathon Petroleum Corporation (NYSE:MPC) by 1.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 118,328 shares of the oil and gas company’s stock after selling 1,920 shares during the quarter. Trust Co. of Virginia VA’s holdings in Marathon Petroleum Corporation were worth $6,192,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Martingale Asset Management L P grew its stake in shares of Marathon Petroleum Corporation by 3.2% during the 2nd quarter. Martingale Asset Management L P now owns 41,554 shares of the oil and gas company’s stock worth $2,175,000 after purchasing an additional 1,293 shares during the period. Alliancebernstein L.P. grew its stake in Marathon Petroleum Corporation by 93.3% in the 2nd quarter. Alliancebernstein L.P. now owns 5,331,521 shares of the oil and gas company’s stock valued at $278,998,000 after acquiring an additional 2,572,727 shares during the period. AMG Funds LLC grew its stake in Marathon Petroleum Corporation by 1.2% in the 2nd quarter. AMG Funds LLC now owns 52,148 shares of the oil and gas company’s stock valued at $2,729,000 after acquiring an additional 606 shares during the period. Aberdeen Asset Management PLC UK grew its stake in Marathon Petroleum Corporation by 41.0% in the 2nd quarter. Aberdeen Asset Management PLC UK now owns 385,075 shares of the oil and gas company’s stock valued at $20,151,000 after acquiring an additional 111,946 shares during the period. Finally, AXA grew its stake in Marathon Petroleum Corporation by 1.5% in the 2nd quarter. AXA now owns 54,520 shares of the oil and gas company’s stock valued at $2,853,000 after acquiring an additional 816 shares during the period. 78.85% of the stock is owned by institutional investors.
Marathon Petroleum Corporation (MPC) traded up 1.18% during midday trading on Friday, hitting $52.96. The stock had a trading volume of 9,062,782 shares. Marathon Petroleum Corporation has a one year low of $39.29 and a one year high of $56.81. The stock has a 50-day moving average price of $52.82 and a 200 day moving average price of $52.06. The firm has a market cap of $26.81 billion, a PE ratio of 31.58 and a beta of 1.56.
Marathon Petroleum Corporation (NYSE:MPC) last issued its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $1.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.01). The business had revenue of $18.35 billion for the quarter, compared to analyst estimates of $19.98 billion. Marathon Petroleum Corporation had a return on equity of 5.52% and a net margin of 1.34%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.07 EPS. On average, analysts predict that Marathon Petroleum Corporation will post $2.90 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Wednesday, August 16th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend was Monday, August 14th. This is a boost from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. Marathon Petroleum Corporation’s dividend payout ratio is 90.91%.
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Several research firms have recently commented on MPC. BidaskClub upgraded shares of Marathon Petroleum Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. Zacks Investment Research upgraded shares of Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a report on Monday, August 7th. Cowen and Company boosted their price target on shares of Marathon Petroleum Corporation from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, July 27th. Jefferies Group LLC reiterated a “buy” rating and set a $54.83 price target (down from $65.00) on shares of Marathon Petroleum Corporation in a research note on Thursday, July 20th. Finally, ValuEngine upgraded shares of Marathon Petroleum Corporation from a “hold” rating to a “buy” rating 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 company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $59.67.
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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