Kings Point Capital Management continued to hold its position in shares of Marathon Petroleum Corp. (NYSE:MPC) during the third quarter, Holdings Channel reports. The firm owned 3,516 shares of the company’s stock at the end of the third quarter. Kings Point Capital Management’s holdings in Marathon Petroleum Corp. were worth $143,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Rowland & Co. Investment Counsel ADV bought a new position in Marathon Petroleum Corp. during the third quarter valued at $105,000. 1832 Asset Management L.P. raised its stake in shares of Marathon Petroleum Corp. by 3,222.6% in the second quarter. 1832 Asset Management L.P. now owns 2,791 shares of the company’s stock valued at $106,000 after buying an additional 2,707 shares during the period. AlphaMark Advisors LLC raised its stake in shares of Marathon Petroleum Corp. by 98.7% in the second quarter. AlphaMark Advisors LLC now owns 3,020 shares of the company’s stock valued at $115,000 after buying an additional 1,500 shares during the period. Amica Retiree Medical Trust acquired a new stake in shares of Marathon Petroleum Corp. during the second quarter valued at about $117,000. Finally, Gierl Augustine Investment Management Inc raised its stake in shares of 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 valued at $119,000 after buying an additional 814 shares during the period. 77.68% of the stock is owned by institutional investors and hedge funds.
Shares of Marathon Petroleum Corp. (NYSE:MPC) traded down 0.60% during midday trading on Monday, hitting $47.91. 2,329,101 shares of the stock traded hands. The stock has a market cap of $25.29 billion, a price-to-earnings ratio of 22.56 and a beta of 1.80. Marathon Petroleum Corp. has a 12-month low of $29.24 and a 12-month high of $59.99. The company’s 50 day moving average price is $43.33 and its 200-day moving average price is $39.95.
Marathon Petroleum Corp. (NYSE:MPC) last posted its earnings results on Thursday, October 27th. The company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.81 by $0.23. The firm had revenue of $16.46 billion for the quarter, compared to analysts’ expectations of $17.18 billion. Marathon Petroleum Corp. had a net margin of 1.84% and a return on equity of 6.74%. Marathon Petroleum Corp.’s revenue for the quarter was down 11.2% compared to the same quarter last year. During the same period last year, the firm earned $1.76 earnings per share. On average, equities research analysts expect that Marathon Petroleum Corp. will post $2.05 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 yield of 2.99%. Marathon Petroleum Corp.’s dividend payout ratio is currently 67.61%.
Several analysts recently issued reports on the stock. Vetr upgraded shares of Marathon Petroleum Corp. from a “buy” rating to a “strong-buy” rating and set a $46.33 target price for the company in a research report on Monday, August 22nd. TheStreet upgraded shares of Marathon Petroleum Corp. from a “hold” rating to a “buy” rating in a research report on Monday, August 8th. Piper Jaffray Cos. boosted 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 report on Friday, September 16th. Bank of America Corp. restated a “buy” rating on shares of Marathon Petroleum Corp. in a research report on Monday, September 26th. Finally, Jefferies Group set a $48.00 target price on shares of Marathon Petroleum Corp. and gave the company a “buy” rating in a research report on Saturday, October 15th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $51.77.
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.