Todays Report: The OLD Republic International Corp Acquires New Position in Marathon Petroleum Corp. (MPC)

The OLD Republic International Corp Acquires New Position in Marathon Petroleum Corp. (MPC)

OLD Republic International Corp bought a new stake in Marathon Petroleum Corp. (NYSE:MPC) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 284,000 shares of the company’s stock, valued at approximately $10,781,000.

Other large investors have also made changes to their positions in the company. Legal & General Group Plc increased its stake in shares of Marathon Petroleum Corp. by 6.6% in the first quarter. Legal & General Group Plc now owns 2,693,717 shares of the company’s stock valued at $100,120,000 after buying an additional 167,259 shares during the last quarter. Magnetar Financial LLC acquired a new stake in shares of Marathon Petroleum Corp. during the first quarter valued at $63,206,000. Nordea Investment Management AB increased its stake in shares of Marathon Petroleum Corp. by 8.7% in the second quarter. Nordea Investment Management AB now owns 1,440,543 shares of the company’s stock valued at $54,683,000 after buying an additional 115,523 shares during the last quarter. Natixis increased its stake in shares of Marathon Petroleum Corp. by 52.0% in the first quarter. Natixis now owns 1,103,385 shares of the company’s stock valued at $41,024,000 after buying an additional 377,559 shares during the last quarter. Finally, Hermes Investment Management Ltd. increased its stake in shares of Marathon Petroleum Corp. by 6.1% in the second quarter. Hermes Investment Management Ltd. now owns 995,230 shares of the company’s stock valued at $37,779,000 after buying an additional 56,800 shares during the last quarter. 79.71% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Corp. (NYSE:MPC) traded up 0.02% during mid-day trading on Friday, hitting $42.82. 8,268,479 shares of the stock traded hands. The stock has a 50-day moving average of $42.44 and a 200 day moving average of $39.27. Marathon Petroleum Corp. has a 1-year low of $29.24 and a 1-year high of $59.99. The firm has a market cap of $22.61 billion, a price-to-earnings ratio of 20.16 and a beta of 2.06.

Marathon Petroleum Corp. (NYSE:MPC) last posted its earnings results on Thursday, October 27th. The company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by $0.23. Marathon Petroleum Corp. had a return on equity of 6.76% and a net margin of 1.84%. The firm had revenue of $16.46 billion for the quarter, compared to analyst estimates of $17.18 billion. During the same period in the previous year, the firm posted $1.76 earnings per share. The company’s revenue for the quarter was down 11.2% on a year-over-year basis. On average, equities analysts expect that Marathon Petroleum Corp. will post $2.36 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Wednesday, November 16th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Monday, November 14th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.36%. Marathon Petroleum Corp.’s dividend payout ratio (DPR) is presently 67.61%.

MPC has been the topic of several recent research reports. Credit Suisse Group AG cut their target price on shares of Marathon Petroleum Corp. from $45.00 to $37.53 and set an “outperform” rating on the stock in a research note on Wednesday, July 20th. Piper Jaffray Cos. upped their target price on shares of Marathon Petroleum Corp. from $35.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, August 22nd. Vetr downgraded shares of Marathon Petroleum Corp. from a “strong-buy” rating to a “buy” rating and set a $46.33 target price on the stock. in a research note on Monday, August 8th. Jefferies Group assumed coverage on shares of Marathon Petroleum Corp. in a research report on Tuesday, August 23rd. They issued a “buy” rating and a $48.00 price objective on the stock. Finally, Zacks Investment Research raised shares of Marathon Petroleum Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, August 16th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $53.00.

Marathon Petroleum Corp. Company Profile

Marathon Petroleum Corporation is engaged in petroleum product refining, marketing, retail and transportation businesses in the United States and the east of the Mississippi. The Company’s segments include Refining & Marketing, Speedway, and Midstream. Its Refining & Marketing segment refines crude oil and other feedstocks at its approximately seven refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products.

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