Today: The ING Groep NV Acquires 6,571 Shares of Marathon Petroleum Corp. (MPC)

The ING Groep NV Acquires 6,571 Shares of Marathon Petroleum Corp. (MPC)

ING Groep NV increased its stake in shares of Marathon Petroleum Corp. (NYSE:MPC) by 54.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,697 shares of the company’s stock after buying an additional 6,571 shares during the period. ING Groep NV’s holdings in Marathon Petroleum Corp. were worth $710,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in MPC. Teachers Advisors Inc. raised its stake in Marathon Petroleum Corp. by 2.0% in the first quarter. Teachers Advisors Inc. now owns 963,415 shares of the company’s stock valued at $35,820,000 after buying an additional 18,824 shares in the last quarter. Franklin Resources Inc. raised its stake in Marathon Petroleum Corp. by 12.0% in the first quarter. Franklin Resources Inc. now owns 155,086 shares of the company’s stock valued at $5,767,000 after buying an additional 16,600 shares in the last quarter. BlackRock Fund Advisors raised its stake in Marathon Petroleum Corp. by 9.7% in the first quarter. BlackRock Fund Advisors now owns 7,983,567 shares of the company’s stock valued at $296,829,000 after buying an additional 704,302 shares in the last quarter. Columbia Partners L L C Investment Management raised its stake in Marathon Petroleum Corp. by 45.7% in the first quarter. Columbia Partners L L C Investment Management now owns 27,808 shares of the company’s stock valued at $1,033,000 after buying an additional 8,724 shares in the last quarter. Finally, Acrospire Investment Management LLC bought a new stake in Marathon Petroleum Corp. during the first quarter valued at $108,000. Institutional investors own 79.85% of the company’s stock.

Marathon Petroleum Corp. (NYSE:MPC) traded down 1.39% during midday trading on Friday, hitting $41.77. The stock had a trading volume of 4,427,856 shares. Marathon Petroleum Corp. has a 52 week low of $29.24 and a 52 week high of $59.99. The firm has a 50 day moving average of $42.25 and a 200 day moving average of $38.69. The firm has a market cap of $22.09 billion, a price-to-earnings ratio of 11.53 and a beta of 2.06.

Marathon Petroleum Corp. (NYSE:MPC) last posted its quarterly earnings data on Thursday, July 28th. The company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.10. The business earned $16.81 billion during the quarter, compared to the consensus estimate of $16.30 billion. Marathon Petroleum Corp. had a return on equity of 10.94% and a net margin of 3.02%. The firm’s quarterly revenue was down 18.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.51 earnings per share. Equities research analysts predict that Marathon Petroleum Corp. will post $2.41 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Wednesday, August 17th were issued a $0.36 dividend. This is an increase from Marathon Petroleum Corp.’s previous quarterly dividend of $0.32. The ex-dividend date was Monday, August 15th. This represents a $1.44 dividend on an annualized basis and a yield of 3.45%. Marathon Petroleum Corp.’s dividend payout ratio is 39.78%.

Several analysts have recently weighed in on MPC shares. JPMorgan Chase & Co. lowered their price objective on shares of Marathon Petroleum Corp. from $39.00 to $38.00 and set a “neutral” rating for the company in a research note on Friday, June 10th. Goldman Sachs Group Inc. reiterated a “top pick” rating on shares of Marathon Petroleum Corp. in a research note on Thursday, June 30th. Wells Fargo & Co. reiterated a “buy” rating on shares of Marathon Petroleum Corp. in a research note on Saturday, July 9th. Howard Weil lowered shares of Marathon Petroleum Corp. from a “sector outperform” rating to a “sector perform” rating and set a $42.00 price objective for the company. in a research note on Monday, July 11th. Finally, Scotiabank lowered shares of Marathon Petroleum Corp. from an “outperform” rating to a “sector perform” rating and set a $42.00 price objective for the company. in a research note on Monday, July 11th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $53.05.

About Marathon Petroleum Corp.

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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