ETRADE Capital Management LLC decreased its stake in shares of Marathon Petroleum Corp (NYSE:MPC) by 16.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,514 shares of the oil and gas company’s stock after selling 5,018 shares during the quarter. ETRADE Capital Management LLC’s holdings in Marathon Petroleum were worth $953,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Hoover Financial Advisors Inc. purchased a new position in shares of Marathon Petroleum in the 2nd quarter worth about $26,000. Trustcore Financial Services LLC lifted its stake in shares of 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 purchasing an additional 341 shares during the last quarter. NewSquare Capital LLC raised its holdings in Marathon Petroleum by 215.6% in the 1st quarter. NewSquare Capital LLC now owns 2,225 shares of the oil and gas company’s stock valued at $53,000 after buying an additional 1,520 shares during the period. Rosenberg Matthew Hamilton acquired a new position in Marathon Petroleum in the second quarter valued at about $55,000. Finally, Sandy Spring Bank boosted its stake in Marathon Petroleum by 60.8% during the first quarter. Sandy Spring Bank now owns 2,677 shares of the oil and gas company’s stock worth $63,000 after buying an additional 1,012 shares during the period. 73.27% of the stock is currently owned by institutional investors and hedge funds.
Shares of MPC traded down $0.75 during midday trading on Friday, reaching $33.51. The stock had a trading volume of 98,708 shares, compared to its average volume of 6,508,898. The company has a market cap of $22.78 billion, a price-to-earnings ratio of -2.88 and a beta of 2.08. The company’s fifty day simple moving average is $37.30 and its two-hundred day simple moving average is $34.88. Marathon Petroleum Corp has a 1-year low of $15.26 and a 1-year high of $69.65. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.27 and a quick ratio of 0.57.
Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Monday, August 3rd. The oil and gas company reported ($1.33) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.86) by $0.53. Marathon Petroleum had a positive return on equity of 3.04% and a negative net margin of 7.55%. The company had revenue of $15.20 billion during the quarter, compared to the consensus estimate of $17.49 billion. During the same period in the previous year, the business earned $1.73 EPS. Marathon Petroleum’s revenue for the quarter was down 54.9% on a year-over-year basis. On average, sell-side analysts forecast that Marathon Petroleum Corp will post -3.09 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be paid a $0.58 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $2.32 annualized dividend and a yield of 6.92%. Marathon Petroleum’s dividend payout ratio is currently 46.96%.
Several equities analysts have recently commented on the stock. Jefferies Financial Group upped their price objective on shares of Marathon Petroleum from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Mizuho decreased their price target on Marathon Petroleum from $54.00 to $52.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. Tudor Pickering cut Marathon Petroleum from a “buy” rating to a “sell” rating and set a $35.00 price objective for the company. in a research note on Tuesday, August 4th. Cowen raised Marathon Petroleum from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $37.00 to $43.00 in a research note on Wednesday, August 12th. Finally, Credit Suisse Group lifted their target price on Marathon Petroleum from $38.00 to $41.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $47.93.
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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