Westpac Banking Corp cut its stake in shares of Marathon Petroleum Corp (NYSE:MPC) by 13.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 152,054 shares of the oil and gas company’s stock after selling 24,322 shares during the period. Westpac Banking Corp’s holdings in Marathon Petroleum were worth $9,100,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Hanson McClain Inc. bought a new position in shares of Marathon Petroleum in the fourth quarter worth approximately $25,000. Alpha Omega Wealth Management LLC increased its position 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. Berman Capital Advisors LLC bought a new position in shares of Marathon Petroleum in the fourth quarter worth approximately $30,000. Claybrook Capital LLC bought a new position in shares of Marathon Petroleum in the fourth quarter worth approximately $30,000. Finally, Bay Harbor Wealth Management LLC bought a new position in shares of Marathon Petroleum in the first quarter worth approximately $31,000. Hedge funds and other institutional investors own 77.57% of the company’s stock.
Several research analysts recently weighed in on the stock. Zacks Investment Research cut shares of Marathon Petroleum from a “hold” rating to a “strong sell” rating in a research report on Friday, May 17th. Raymond James decreased their price objective on shares of Marathon Petroleum from $90.00 to $85.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, April 10th. Royal Bank of Canada decreased their price objective on shares of Marathon Petroleum from $71.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. ValuEngine upgraded shares of Marathon Petroleum from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 22nd. Finally, Morgan Stanley decreased their price objective on shares of Marathon Petroleum from $85.00 to $82.00 and set an “overweight” rating on the stock in a research report on Monday, April 15th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. Marathon Petroleum currently has a consensus rating of “Buy” and a consensus target price of $85.68.
MPC traded down $0.22 during midday trading on Friday, hitting $47.68. The stock had a trading volume of 152,297 shares, compared to its average volume of 7,527,128. The firm has a market cap of $31.60 billion, a P/E ratio of 7.04, a P/E/G ratio of 1.12 and a beta of 1.52. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.20 and a quick ratio of 0.55. Marathon Petroleum Corp has a 1 year low of $45.47 and a 1 year high of $88.45.
Marathon Petroleum (NYSE:MPC) last issued its earnings results on Wednesday, May 8th. The oil and gas company reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.10). The firm had revenue of $28.62 billion during the quarter, compared to analysts’ expectations of $27.70 billion. Marathon Petroleum had a return on equity of 11.10% and a net margin of 2.56%. The firm’s quarterly revenue was up 50.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.08 EPS. On average, equities analysts anticipate that Marathon Petroleum Corp will post 4.74 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Thursday, May 16th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 4.45%. The ex-dividend date was Wednesday, May 15th. Marathon Petroleum’s dividend payout ratio is currently 31.27%.
In other news, insider Donald C. Templin bought 5,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was acquired at an average price of $50.74 per share, with a total value of $253,700.00. Following the completion of the purchase, the insider now directly owns 93,182 shares in the company, valued at $4,728,054.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James E. Rohr bought 12,500 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was purchased at an average cost of $48.14 per share, with a total value of $601,750.00. The disclosure for this purchase can be found here. 1.06% of the stock is owned by corporate insiders.
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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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