Airain ltd Buys New Position in Marathon Petroleum Corporation (MPC)
Airain ltd acquired a new position in Marathon Petroleum Corporation (NYSE:MPC) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 152,088 shares of the oil and gas company’s stock, valued at approximately $7,959,000.
Other hedge funds have also bought and sold shares of the company. Blue Chip Partners Inc. acquired a new stake in Marathon Petroleum Corporation during the second quarter worth $100,000. Guardian Life Insurance Co. of America boosted its stake in Marathon Petroleum Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,036 shares of the oil and gas company’s stock worth $103,000 after buying an additional 14 shares during the last quarter. FTB Advisors Inc. boosted its stake in Marathon Petroleum Corporation by 484.9% in the first quarter. FTB Advisors Inc. now owns 2,047 shares of the oil and gas company’s stock worth $104,000 after buying an additional 1,697 shares during the last quarter. Lee Financial Co boosted its stake in Marathon Petroleum Corporation by 2.4% in the second quarter. Lee Financial Co now owns 2,048 shares of the oil and gas company’s stock worth $107,000 after buying an additional 48 shares during the last quarter. Finally, Jacobi Capital Management LLC boosted its stake in Marathon Petroleum Corporation by 32.2% in the first quarter. Jacobi Capital Management LLC now owns 2,340 shares of the oil and gas company’s stock worth $116,000 after buying an additional 570 shares during the last quarter. 81.36% of the stock is owned by hedge funds and other institutional investors.
Marathon Petroleum Corporation (NYSE MPC) opened at 51.72 on Friday. The stock has a market cap of $26.18 billion, a price-to-earnings ratio of 30.84 and a beta of 1.56. The firm’s 50 day moving average price is $53.66 and its 200-day moving average price is $51.79. Marathon Petroleum Corporation has a 1-year low of $39.29 and a 1-year high of $56.81. Marathon Petroleum Corporation also was the recipient of some unusual options trading activity on Thursday. Traders purchased 18,336 call options on the company. This is an increase of 766% compared to the average daily volume of 2,118 call options.
Marathon Petroleum Corporation (NYSE:MPC) last posted its earnings results on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by $0.01. The firm had revenue of $18.35 billion for the quarter, compared to analyst estimates of $19.98 billion. Marathon Petroleum Corporation had a net margin of 1.34% and a return on equity of 5.52%. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.07 earnings per share. On average, equities analysts anticipate that Marathon Petroleum Corporation will post $2.75 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Wednesday, August 16th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.09%. This is a positive change from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. The ex-dividend date is Monday, August 14th. Marathon Petroleum Corporation’s payout ratio is presently 90.91%.
A number of equities analysts recently issued reports on MPC shares. Zacks Investment Research upgraded Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. BidaskClub upgraded Marathon Petroleum Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 1st. Jefferies Group LLC set a $65.00 target price on Marathon Petroleum Corporation and gave the stock a “buy” rating in a research note on Friday. Cowen and Company raised their target price on Marathon Petroleum Corporation from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, July 27th. Finally, US Capital Advisors restated a “buy” rating on shares of Marathon Petroleum Corporation in a research note on Monday, May 22nd. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $59.30.
In other Marathon Petroleum Corporation news, insider Thomas M. Kelley sold 25,000 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $54.33, for a total transaction of $1,358,250.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.05% of the stock is currently owned by insiders.
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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