Marathon Petroleum Corp (MPC) Shares Sold by White Pine Investment CO
White Pine Investment CO trimmed its holdings in Marathon Petroleum Corp (NYSE:MPC) by 0.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 70,795 shares of the oil and gas company’s stock after selling 665 shares during the quarter. Marathon Petroleum comprises 2.6% of White Pine Investment CO’s portfolio, making the stock its 15th biggest holding. White Pine Investment CO’s holdings in Marathon Petroleum were worth $4,967,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the stock. D.A. Davidson & CO. raised its holdings in Marathon Petroleum by 4.3% during the 1st quarter. D.A. Davidson & CO. now owns 16,622 shares of the oil and gas company’s stock worth $1,215,000 after purchasing an additional 688 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in Marathon Petroleum by 1.4% during the 2nd quarter. Janney Montgomery Scott LLC now owns 51,889 shares of the oil and gas company’s stock worth $3,641,000 after purchasing an additional 692 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in Marathon Petroleum by 63.8% during the 1st quarter. Quadrant Capital Group LLC now owns 1,787 shares of the oil and gas company’s stock worth $120,000 after purchasing an additional 696 shares during the last quarter. Gyroscope Capital Management Group LLC raised its holdings in Marathon Petroleum by 15.5% during the 1st quarter. Gyroscope Capital Management Group LLC now owns 5,248 shares of the oil and gas company’s stock worth $384,000 after purchasing an additional 706 shares during the last quarter. Finally, Busey Trust CO raised its holdings in Marathon Petroleum by 23.8% during the 1st quarter. Busey Trust CO now owns 4,096 shares of the oil and gas company’s stock worth $300,000 after purchasing an additional 787 shares during the last quarter. 79.57% of the stock is owned by institutional investors and hedge funds.
Several brokerages have weighed in on MPC. Bank of America boosted their price objective on Marathon Petroleum from $80.00 to $88.00 and gave the stock a “neutral” rating in a report on Tuesday, May 1st. Wells Fargo & Co reissued a “market perform” rating and set a $80.00 price objective (up from $73.00) on shares of Marathon Petroleum in a report on Tuesday, May 1st. Jefferies Financial Group raised Marathon Petroleum from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $75.00 to $95.00 in a report on Thursday, May 3rd. Mizuho began coverage on Marathon Petroleum in a report on Wednesday, August 1st. They set a “buy” rating and a $95.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their price objective on Marathon Petroleum from $98.00 to $102.00 and gave the stock an “overweight” rating in a report on Friday, July 27th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Marathon Petroleum has an average rating of “Buy” and a consensus price target of $85.00.
Marathon Petroleum stock opened at $80.93 on Friday. The stock has a market cap of $36.42 billion, a PE ratio of 21.30, a P/E/G ratio of 1.33 and a beta of 1.40. Marathon Petroleum Corp has a 1 year low of $49.30 and a 1 year high of $83.33. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.60 and a quick ratio of 1.12.
Marathon Petroleum (NYSE:MPC) last posted its earnings results on Thursday, July 26th. The oil and gas company reported $2.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.98 by $0.29. The company had revenue of $22.45 billion during the quarter, compared to analyst estimates of $22.14 billion. Marathon Petroleum had a return on equity of 12.83% and a net margin of 4.89%. The company’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.93 EPS. equities analysts forecast that Marathon Petroleum Corp will post 5.12 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Thursday, August 16th will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Wednesday, August 15th. This represents a $1.84 annualized dividend and a dividend yield of 2.27%. Marathon Petroleum’s payout ratio is currently 48.42%.
About Marathon Petroleum
Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.
Further Reading: Average Daily Trade Volume – ADTV
Want to see what other hedge funds are holding MPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Petroleum Corp (NYSE:MPC).
Receive News & Ratings for Marathon Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marathon Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.