Prudential Financial Inc. reduced its position in shares of Marathon Petroleum Corp. (NYSE:MPC) by 10.2% during the third quarter, Holdings Channel reports. The institutional investor owned 3,267,916 shares of the company’s stock after selling 372,866 shares during the period. Prudential Financial Inc.’s holdings in Marathon Petroleum Corp. were worth $132,644,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in the stock. Stillwater Capital Advisors LLC increased its stake in Marathon Petroleum Corp. by 2.2% in the second quarter. Stillwater Capital Advisors LLC now owns 171,587 shares of the company’s stock worth $6,513,000 after buying an additional 3,734 shares during the last quarter. Chevy Chase Trust Holdings Inc. increased its stake in Marathon Petroleum Corp. by 0.9% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 459,955 shares of the company’s stock worth $17,459,000 after buying an additional 4,293 shares during the last quarter. Stillwater Investment Management LLC increased its stake in Marathon Petroleum Corp. by 1.1% in the second quarter. Stillwater Investment Management LLC now owns 35,320 shares of the company’s stock worth $1,341,000 after buying an additional 389 shares during the last quarter. Exxonmobil Investment Management Inc. TX increased its stake in Marathon Petroleum Corp. by 6.4% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 137,148 shares of the company’s stock worth $5,206,000 after buying an additional 8,294 shares during the last quarter. Finally, DNB Asset Management AS increased its stake in Marathon Petroleum Corp. by 2.0% in the second quarter. DNB Asset Management AS now owns 41,608 shares of the company’s stock worth $1,579,000 after buying an additional 800 shares during the last quarter. 77.68% of the stock is currently owned by institutional investors.
Shares of Marathon Petroleum Corp. (NYSE:MPC) opened at 47.05 on Tuesday. The stock has a 50 day moving average of $43.48 and a 200-day moving average of $40.10. Marathon Petroleum Corp. has a 52 week low of $29.24 and a 52 week high of $59.99. The firm has a market cap of $24.83 billion, a price-to-earnings ratio of 22.15 and a beta of 1.80.
Marathon Petroleum Corp. (NYSE:MPC) last released its quarterly earnings results on Thursday, October 27th. The company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by $0.23. The business had revenue of $16.46 billion for the quarter, compared to the consensus estimate of $17.18 billion. Marathon Petroleum Corp. had a net margin of 1.84% and a return on equity of 6.74%. The firm’s revenue for the quarter was down 11.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.76 EPS. Equities research analysts expect that Marathon Petroleum Corp. will post $2.05 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 12th. Stockholders of record on Wednesday, November 16th will be issued a dividend of $0.36 per share. 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 3.06%. Marathon Petroleum Corp.’s dividend payout ratio is currently 67.61%.
A number of research firms have recently issued reports on MPC. Jefferies Group set a $48.00 price target on shares of Marathon Petroleum Corp. and gave the company a “buy” rating in a research report on Saturday, October 15th. Raymond James Financial Inc. upgraded Marathon Petroleum Corp. from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the stock from $47.00 to $54.00 in a research report on Monday, October 31st. Vetr downgraded Marathon Petroleum Corp. from a “strong-buy” rating to a “buy” rating and set a $46.33 price objective for the company. in a research report on Monday, August 15th. TheStreet upgraded Marathon Petroleum Corp. from a “hold” rating to a “buy” rating in a research report on Monday, August 8th. Finally, Howard Weil lifted their price objective on Marathon Petroleum Corp. from $45.00 to $47.00 and gave the stock a “sector perform” rating in a research report on Friday, October 28th. 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 currently 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.