Wright Investors Service Inc. decreased its position in Marathon Petroleum Corp (NYSE:MPC) by 43.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 27,223 shares of the oil and gas company’s stock after selling 21,171 shares during the period. Wright Investors Service Inc.’s holdings in Marathon Petroleum were worth $1,521,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Alpha Omega Wealth Management LLC grew its holdings in shares of Marathon Petroleum by 135.1% in the first quarter. Alpha Omega Wealth Management LLC now owns 435 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 250 shares during the last quarter. Wealthcare Advisory Partners LLC boosted its holdings in Marathon Petroleum by 345.6% in the second quarter. Wealthcare Advisory Partners LLC now owns 508 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 394 shares in the last quarter. Bay Harbor Wealth Management LLC bought a new stake in Marathon Petroleum in the first quarter valued at $31,000. AllSquare Wealth Management LLC bought a new stake in Marathon Petroleum in the first quarter valued at $32,000. Finally, Horan Capital Advisors LLC. bought a new stake in Marathon Petroleum in the first quarter valued at $36,000. Hedge funds and other institutional investors own 76.94% of the company’s stock.
Marathon Petroleum stock traded up $0.30 on Thursday, hitting $44.93. 190,409 shares of the stock traded hands, compared to its average volume of 5,592,954. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.63 and a current ratio of 1.24. The stock has a market capitalization of $30.55 billion, a price-to-earnings ratio of 6.63, a P/E/G ratio of 1.29 and a beta of 1.68. The firm has a fifty day moving average of $53.84. Marathon Petroleum Corp has a 1 year low of $44.27 and a 1 year high of $88.45.
Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Thursday, August 1st. The oil and gas company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.33 by $0.40. The business had revenue of $33.70 billion during the quarter, compared to analyst estimates of $33.26 billion. Marathon Petroleum had a return on equity of 9.55% and a net margin of 2.36%. The company’s revenue for the quarter was up 50.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.27 earnings per share. On average, equities analysts forecast that Marathon Petroleum Corp will post 4.36 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 4.72%. The ex-dividend date of this dividend is Tuesday, August 20th. Marathon Petroleum’s dividend payout ratio is currently 31.27%.
Several analysts recently weighed in on MPC shares. Cowen cut shares of Marathon Petroleum from an “outperform” rating to a “market perform” rating and cut their price target for the company from $90.00 to $65.00 in a report on Friday, May 10th. Zacks Investment Research cut shares of Marathon Petroleum from a “hold” rating to a “strong sell” rating in a report on Friday, May 17th. Wells Fargo & Co cut their price target on shares of Marathon Petroleum from $96.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. ValuEngine upgraded shares of Marathon Petroleum from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 22nd. Finally, Morgan Stanley cut their price target on shares of Marathon Petroleum from $82.00 to $75.00 and set an “overweight” rating on the stock in a report on Friday, May 17th. Two analysts have rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $82.62.
In other news, Director James E. Rohr acquired 12,500 shares of the stock in a transaction on Tuesday, June 11th. The stock was acquired at an average price of $48.14 per share, with a total value of $601,750.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.06% of the company’s stock.
About Marathon Petroleum
Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing; Retail; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals and trucks that the company owns or operates.
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