White Pine Investment CO Increases Stake in Marathon Petroleum Corp (NYSE:MPC)

White Pine Investment CO lifted its stake in Marathon Petroleum Corp (NYSE:MPC) by 3.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 71,390 shares of the oil and gas company’s stock after purchasing an additional 2,525 shares during the quarter. Marathon Petroleum comprises about 1.9% of White Pine Investment CO’s portfolio, making the stock its 26th largest holding. White Pine Investment CO’s holdings in Marathon Petroleum were worth $3,989,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in MPC. Dimensional Fund Advisors LP raised its position in shares of Marathon Petroleum by 70.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,065,459 shares of the oil and gas company’s stock valued at $593,940,000 after purchasing an additional 4,153,879 shares during the last quarter. Thoroughbred Financial Services LLC raised its position in Marathon Petroleum by 5,858.7% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 974,491 shares of the oil and gas company’s stock worth $97,449,000 after buying an additional 958,137 shares during the last quarter. Ceredex Value Advisors LLC raised its position in Marathon Petroleum by 34.3% during the 1st quarter. Ceredex Value Advisors LLC now owns 3,466,868 shares of the oil and gas company’s stock worth $207,492,000 after buying an additional 886,212 shares during the last quarter. Geode Capital Management LLC raised its position in Marathon Petroleum by 8.3% during the 4th quarter. Geode Capital Management LLC now owns 8,732,890 shares of the oil and gas company’s stock worth $514,399,000 after buying an additional 671,836 shares during the last quarter. Finally, Conning Inc. raised its position in Marathon Petroleum by 3,984.0% during the 1st quarter. Conning Inc. now owns 594,182 shares of the oil and gas company’s stock worth $35,562,000 after buying an additional 579,633 shares during the last quarter. 76.94% of the stock is owned by hedge funds and other institutional investors.

In related news, Director James E. Rohr purchased 12,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The shares were purchased at an average price of $48.14 per share, with a total value of $601,750.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.06% of the stock is currently owned by company insiders.

A number of research firms have issued reports on MPC. Wells Fargo & Co reduced their price target on shares of Marathon Petroleum from $96.00 to $90.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. ValuEngine raised shares of Marathon Petroleum from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 22nd. Credit Suisse Group reduced their price target on shares of Marathon Petroleum from $95.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, May 13th. Morgan Stanley reduced their price target on shares of Marathon Petroleum from $82.00 to $75.00 and set an “overweight” rating for the company in a research report on Friday, May 17th. Finally, Royal Bank of Canada reduced their price target on shares of Marathon Petroleum from $71.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $82.62.

Shares of NYSE:MPC traded down $1.78 during trading on Wednesday, hitting $44.63. 3,697,586 shares of the stock traded hands, compared to its average volume of 6,663,397. 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 $30.08 billion, a P/E ratio of 6.58, a price-to-earnings-growth ratio of 1.34 and a beta of 1.68. The business’s fifty day simple moving average is $53.98. Marathon Petroleum Corp has a 52-week low of $45.47 and a 52-week high of $88.45.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Thursday, August 1st. The oil and gas company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.40. The firm had revenue of $33.70 billion during the quarter, compared to analyst estimates of $33.26 billion. Marathon Petroleum had a net margin of 2.36% and a return on equity of 9.55%. The business’s quarterly revenue was up 50.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.27 EPS. As a group, equities research analysts anticipate that Marathon Petroleum Corp will post 4.36 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be paid a $0.53 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $2.12 dividend on an annualized basis and a yield of 4.75%. Marathon Petroleum’s dividend payout ratio is currently 31.27%.

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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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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