Vaughan David Investments Inc. IL grew its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 12,827.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 607,579 shares of the oil and gas company’s stock after buying an additional 602,879 shares during the quarter. Vaughan David Investments Inc. IL owned 0.12% of Marathon Petroleum Corporation worth $9,405,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Marathon Petroleum Corporation by 4.1% during the second quarter. Vanguard Group Inc. now owns 39,255,717 shares of the oil and gas company’s stock valued at $2,054,251,000 after buying an additional 1,544,114 shares during the last quarter. Iridian Asset Management LLC CT boosted its holdings in shares of Marathon Petroleum Corporation by 8.0% in the second quarter. Iridian Asset Management LLC CT now owns 8,327,167 shares of the oil and gas company’s stock valued at $435,761,000 after purchasing an additional 619,548 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Marathon Petroleum Corporation by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 6,068,001 shares of the oil and gas company’s stock valued at $317,521,000 after purchasing an additional 17,439 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Marathon Petroleum Corporation by 93.3% in the second quarter. Alliancebernstein L.P. now owns 5,331,521 shares of the oil and gas company’s stock valued at $278,998,000 after purchasing an additional 2,572,727 shares during the period. Finally, AJO LP boosted its holdings in shares of Marathon Petroleum Corporation by 9.0% in the second quarter. AJO LP now owns 4,991,921 shares of the oil and gas company’s stock valued at $261,227,000 after purchasing an additional 410,816 shares during the period. 81.02% of the stock is currently owned by hedge funds and other institutional investors.
MPC has been the subject of a number of research reports. Bank of America Corporation lowered Marathon Petroleum Corporation from a “buy” rating to a “neutral” rating in a report on Tuesday, September 5th. Citigroup Inc. boosted their price target on Marathon Petroleum Corporation from $67.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, October 18th. Wells Fargo & Company lowered Marathon Petroleum Corporation from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $65.00 to $56.00 in a report on Tuesday, September 5th. Zacks Investment Research lowered Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Finally, Scotiabank reiterated a “hold” rating and issued a $55.00 price target on shares of Marathon Petroleum Corporation in a report on Friday, September 1st. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Marathon Petroleum Corporation currently has an average rating of “Buy” and a consensus price target of $65.07.
Shares of Marathon Petroleum Corporation (NYSE MPC) traded up $0.26 on Friday, hitting $62.27. The stock had a trading volume of 2,980,762 shares, compared to its average volume of 4,402,448. Marathon Petroleum Corporation has a 12-month low of $42.57 and a 12-month high of $63.41. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.80 and a current ratio of 1.52. The stock has a market cap of $30,290.00, a price-to-earnings ratio of 19.11, a PEG ratio of 1.59 and a beta of 1.60.
Marathon Petroleum Corporation (NYSE:MPC) last issued its quarterly earnings data on Thursday, October 26th. The oil and gas company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.48 by $0.29. Marathon Petroleum Corporation had a return on equity of 8.52% and a net margin of 2.35%. The firm had revenue of $19.36 billion during the quarter, compared to analyst estimates of $19.38 billion. During the same quarter in the prior year, the business posted $0.58 EPS. The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. research analysts forecast that Marathon Petroleum Corporation will post 3.59 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Thursday, November 16th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $1.60 annualized dividend and a dividend yield of 2.57%. Marathon Petroleum Corporation’s dividend payout ratio is presently 50.00%.
In other news, insider Anthony R. Kenney sold 77,578 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $62.35, for a total transaction of $4,836,988.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP C. Michael Palmer sold 11,450 shares of the stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $53.02, for a total value of $607,079.00. The disclosure for this sale can be found here. Corporate insiders own 1.05% of the company’s stock.
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Marathon Petroleum Corporation Company 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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