ARP Americas LP bought a new stake in Marathon Petroleum Corp (NYSE:MPC) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 8,729 shares of the oil and gas company’s stock, valued at approximately $326,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Trustcore Financial Services LLC grew its holdings in Marathon Petroleum by 49.7% in the 2nd quarter. Trustcore Financial Services LLC now owns 1,027 shares of the oil and gas company’s stock valued at $38,000 after buying an additional 341 shares during the last quarter. Liberty Wealth Management LLC grew its holdings in shares of Marathon Petroleum by 157.0% during the 1st quarter. Liberty Wealth Management LLC now owns 1,732 shares of the oil and gas company’s stock worth $41,000 after purchasing an additional 1,058 shares in the last quarter. Global Retirement Partners LLC grew its holdings in shares of Marathon Petroleum by 46.2% during the 1st quarter. Global Retirement Partners LLC now owns 2,027 shares of the oil and gas company’s stock worth $48,000 after purchasing an additional 641 shares in the last quarter. NewSquare Capital LLC grew its holdings in shares of Marathon Petroleum by 215.6% during the 1st quarter. NewSquare Capital LLC now owns 2,225 shares of the oil and gas company’s stock worth $53,000 after purchasing an additional 1,520 shares in the last quarter. Finally, Sandy Spring Bank grew its holdings in shares of Marathon Petroleum by 60.8% during the 1st quarter. Sandy Spring Bank now owns 2,677 shares of the oil and gas company’s stock worth $63,000 after purchasing an additional 1,012 shares in the last quarter. 73.54% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Marathon Petroleum stock traded up $0.12 during midday trading on Friday, hitting $38.20. 9,998,483 shares of the company were exchanged, compared to its average volume of 6,517,359. The firm has a 50 day simple moving average of $37.01 and a 200-day simple moving average of $38.13. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.16 and a quick ratio of 0.61. Marathon Petroleum Corp has a 52 week low of $15.26 and a 52 week high of $69.65. The firm has a market cap of $24.84 billion, a P/E ratio of -3.73 and a beta of 2.22.
Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported ($0.16) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.15. Marathon Petroleum had a positive return on equity of 7.88% and a negative net margin of 5.48%. The firm had revenue of $24.08 billion during the quarter, compared to the consensus estimate of $27.96 billion. During the same quarter in the previous year, the company posted ($0.09) EPS. The business’s revenue for the quarter was down 15.8% compared to the same quarter last year. Equities research analysts expect that Marathon Petroleum Corp will post -2.76 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be given a $0.58 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $2.32 annualized dividend and a yield of 6.07%. Marathon Petroleum’s payout ratio is 46.96%.
Several brokerages have recently weighed in on MPC. Morgan Stanley lifted their price objective on Marathon Petroleum from $45.00 to $48.00 and gave the stock an “overweight” rating in a report on Wednesday, July 8th. Bank of America decreased their price objective on Marathon Petroleum from $60.00 to $56.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Royal Bank of Canada reissued a “buy” rating and set a $40.00 price objective on shares of Marathon Petroleum in a report on Wednesday, May 6th. Mizuho decreased their price objective on Marathon Petroleum from $54.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. Finally, ValuEngine raised Marathon Petroleum from a “sell” rating to a “hold” rating in a report on Friday, April 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $49.64.
Marathon Petroleum Company Profile
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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