Los Angeles Capital Management & Equity Research Inc. lowered its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 46.2% during the first quarter, Holdings Channel reports. The firm owned 223,239 shares of the oil and gas company’s stock after selling 191,542 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Marathon Petroleum Corporation were worth $11,282,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Cullinan Associates Inc. raised its position in shares of Marathon Petroleum Corporation by 0.9% in the first quarter. Cullinan Associates Inc. now owns 129,810 shares of the oil and gas company’s stock worth $6,561,000 after buying an additional 1,182 shares during the period. Wealthfront Inc. raised its position in shares of Marathon Petroleum Corporation by 7.1% in the fourth quarter. Wealthfront Inc. now owns 12,271 shares of the oil and gas company’s stock worth $618,000 after buying an additional 812 shares during the period. Blockhouse Capital Management LP acquired a new position in shares of Marathon Petroleum Corporation during the first quarter worth approximately $14,970,000. HITE Hedge Asset Management LLC acquired a new position in shares of Marathon Petroleum Corporation during the fourth quarter worth approximately $4,350,000. Finally, Hartford Investment Management Co. raised its position in shares of Marathon Petroleum Corporation by 13.2% in the first quarter. Hartford Investment Management Co. now owns 147,217 shares of the oil and gas company’s stock worth $7,440,000 after buying an additional 17,182 shares during the period. 80.00% of the stock is currently owned by institutional investors.
Marathon Petroleum Corporation (NYSE:MPC) opened at 53.77 on Friday. The company has a 50 day moving average price of $52.53 and a 200-day moving average price of $50.36. Marathon Petroleum Corporation has a 52-week low of $32.84 and a 52-week high of $55.20. The firm has a market cap of $27.89 billion, a price-to-earnings ratio of 23.71 and a beta of 1.67.
Marathon Petroleum Corporation (NYSE:MPC) last released its quarterly earnings data on Thursday, April 27th. The oil and gas company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.07. The business had revenue of $16.39 billion during the quarter, compared to the consensus estimate of $19.03 billion. Marathon Petroleum Corporation had a return on equity of 5.68% and a net margin of 1.80%. The firm’s revenue was up 27.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.07 earnings per share. Equities research analysts anticipate that Marathon Petroleum Corporation will post $2.96 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 12th. Investors of record on Wednesday, May 17th were issued a $0.36 dividend. The ex-dividend date was Monday, May 15th. This represents a $1.44 dividend on an annualized basis and a yield of 2.68%. Marathon Petroleum Corporation’s dividend payout ratio is presently 63.44%.
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MPC has been the topic of a number of research analyst reports. Scotiabank set a $54.00 price target on Marathon Petroleum Corporation and gave the company a “hold” rating in a report on Monday, March 27th. Jefferies Group LLC reissued a “buy” rating and set a $61.00 price target on shares of Marathon Petroleum Corporation in a report on Wednesday, April 19th. US Capital Advisors reissued a “buy” rating on shares of Marathon Petroleum Corporation in a report on Monday, May 22nd. Royal Bank Of Canada reissued a “buy” rating and set a $69.00 price target on shares of Marathon Petroleum Corporation in a report on Thursday, June 1st. Finally, Credit Suisse Group reaffirmed a “buy” rating and set a $63.00 target price on shares of Marathon Petroleum Corporation in a research note on Friday, March 3rd. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $58.50.
In related news, insider Thomas M. Kelley sold 25,000 shares of the company’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $54.33, for a total value of $1,358,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP C. Michael Palmer sold 4,000 shares of the company’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $53.25, for a total value of $213,000.00. Following the completion of the sale, the vice president now owns 61,757 shares of the company’s stock, valued at approximately $3,288,560.25. The disclosure for this sale can be found here. Insiders sold 33,568 shares of company stock valued at $1,808,969 in the last quarter. 1.05% of the stock is currently owned by corporate insiders.
About Marathon Petroleum Corporation
Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.
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