Dynamic Advisor Solutions LLC purchased a new stake in Marathon Petroleum Corp (NYSE:MPC) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 2,984 shares of the oil and gas company’s stock, valued at approximately $209,000.
Other institutional investors have also recently bought and sold shares of the company. Advisors Preferred LLC bought a new position in Marathon Petroleum in the first quarter valued at about $101,000. Bruderman Asset Management LLC bought a new position in Marathon Petroleum in the first quarter valued at about $102,000. Bedel Financial Consulting Inc. bought a new position in Marathon Petroleum in the first quarter valued at about $106,000. Legacy Financial Advisors Inc. bought a new position in Marathon Petroleum in the second quarter valued at about $113,000. Finally, Northwest Wealth Management LLC bought a new position in Marathon Petroleum in the second quarter valued at about $116,000. Institutional investors and hedge funds own 81.25% of the company’s stock.
In other news, insider Thomas M. Kelley sold 24,818 shares of Marathon Petroleum stock in a transaction dated Wednesday, May 30th. The stock was sold at an average price of $79.47, for a total transaction of $1,972,286.46. Following the transaction, the insider now owns 51,869 shares in the company, valued at approximately $4,122,029.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.09% of the company’s stock.
Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Thursday, July 26th. The oil and gas company reported $2.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.98 by $0.29. Marathon Petroleum had a return on equity of 12.83% and a net margin of 4.89%. The business had revenue of $22.45 billion for the quarter, compared to analysts’ expectations of $22.14 billion. During the same quarter in the previous year, the business posted $0.93 EPS. Marathon Petroleum’s revenue for the quarter was up 22.3% on a year-over-year basis. equities analysts predict that Marathon Petroleum Corp will post 5.12 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Thursday, August 16th will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Wednesday, August 15th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 48.42%.
Several equities analysts recently issued reports on MPC shares. Bank of America upgraded Marathon Petroleum from a “neutral” rating to a “buy” rating and set a $88.00 price target on the stock in a report on Thursday, May 10th. Jefferies Financial Group upgraded Marathon Petroleum from a “hold” rating to a “buy” rating and raised their target price for the stock from $75.00 to $95.00 in a report on Thursday, May 3rd. Royal Bank of Canada restated a “buy” rating and set a $88.00 target price on shares of Marathon Petroleum in a report on Friday, April 20th. Zacks Investment Research upgraded Marathon Petroleum from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a report on Sunday, July 15th. Finally, ValuEngine cut Marathon Petroleum from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 6th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Marathon Petroleum currently has an average rating of “Buy” and a consensus price target of $85.00.
Marathon Petroleum Profile
Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.
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