Sit Investment Associates Inc. decreased its stake in Marathon Petroleum Corp. (NYSE:MPC) by 58.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 425,505 shares of the company’s stock after selling 597,925 shares during the period. Sit Investment Associates Inc.’s holdings in Marathon Petroleum Corp. were worth $16,152,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in MPC. Acrospire Investment Management LLC acquired a new position in shares of Marathon Petroleum Corp. during the first quarter valued at approximately $108,000. Invictus RG raised its position in Marathon Petroleum Corp. by 35.7% in the first quarter. Invictus RG now owns 3,176 shares of the company’s stock worth $118,000 after buying an additional 835 shares during the last quarter. Gierl Augustine Investment Management Inc raised its position in Marathon Petroleum Corp. by 35.2% in the second quarter. Gierl Augustine Investment Management Inc now owns 3,124 shares of the company’s stock worth $119,000 after buying an additional 814 shares during the last quarter. Mercer Capital Advisers Inc. raised its position in Marathon Petroleum Corp. by 433.5% in the second quarter. Mercer Capital Advisers Inc. now owns 3,692 shares of the company’s stock worth $140,000 after buying an additional 3,000 shares during the last quarter. Finally, Advisory Services Network LLC raised its position in Marathon Petroleum Corp. by 7.7% in the second quarter. Advisory Services Network LLC now owns 4,206 shares of the company’s stock worth $160,000 after buying an additional 300 shares during the last quarter. Institutional investors own 79.85% of the company’s stock.
Shares of Marathon Petroleum Corp. (NYSE:MPC) traded down 1.39% during trading on Friday, reaching $41.77. 4,427,650 shares of the company traded hands. The company has a 50-day moving average of $42.27 and a 200-day moving average of $38.67. The stock has a market capitalization of $22.09 billion, a PE ratio of 11.53 and a beta of 2.06. Marathon Petroleum Corp. has a 12 month low of $29.24 and a 12 month high of $59.99.
Marathon Petroleum Corp. (NYSE:MPC) last released its quarterly earnings data on Thursday, July 28th. The company reported $1.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.10. Marathon Petroleum Corp. had a net margin of 3.02% and a return on equity of 10.94%. The firm had revenue of $16.81 billion for the quarter, compared to the consensus estimate of $16.30 billion. During the same period in the previous year, the company earned $1.51 earnings per share. The company’s quarterly revenue was down 18.4% on a year-over-year basis. Analysts forecast that Marathon Petroleum Corp. will post $2.41 earnings per share for the current fiscal year.
The business 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. This represents a $1.44 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend was Monday, August 15th. Marathon Petroleum Corp.’s payout ratio is currently 39.78%.
A number of research firms recently issued reports on MPC. Bank of America Corp. reiterated a “buy” rating on shares of Marathon Petroleum Corp. in a research note on Monday, September 26th. Piper Jaffray Cos. raised their target price on shares of Marathon Petroleum Corp. from $41.00 to $46.00 and gave the company a “neutral” rating in a research note on Friday, September 16th. Vetr upgraded shares of Marathon Petroleum Corp. from a “buy” rating to a “strong-buy” rating and set a $51.50 target price on the stock in a research note on Monday, September 12th. Credit Suisse Group AG reiterated an “outperform” rating on shares of Marathon Petroleum Corp. in a research note on Sunday, September 4th. Finally, Jefferies Group began coverage on shares of Marathon Petroleum Corp. in a research note on Tuesday, August 23rd. They issued a “buy” rating and a $48.00 target price on the stock. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the stock. Marathon Petroleum Corp. currently has a consensus rating of “Buy” and an average price target of $53.05.
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.