Blair William & Co. IL grew its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 65.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 20,460 shares of the oil and gas company’s stock after acquiring an additional 8,093 shares during the period. Blair William & Co. IL’s holdings in Marathon Petroleum were worth $600,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Hoover Financial Advisors Inc. bought a new position in Marathon Petroleum during the 2nd quarter valued at approximately $26,000. Smithfield Trust Co. grew its stake in shares of Marathon Petroleum by 241.2% in the second quarter. Smithfield Trust Co. now owns 853 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 603 shares during the last quarter. Demars Financial Group LLC purchased a new stake in shares of Marathon Petroleum in the second quarter worth $36,000. Trustcore Financial Services LLC increased its holdings in shares of Marathon Petroleum by 49.7% during the second quarter. Trustcore Financial Services LLC now owns 1,027 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 341 shares in the last quarter. Finally, Larson Financial Group LLC raised its position in shares of Marathon Petroleum by 34.5% in the 3rd quarter. Larson Financial Group LLC now owns 1,391 shares of the oil and gas company’s stock worth $41,000 after purchasing an additional 357 shares during the last quarter. 73.27% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have weighed in on the stock. Morgan Stanley reduced their price objective on shares of Marathon Petroleum from $50.00 to $39.00 and set an “overweight” rating for the company in a research note on Monday, October 19th. ValuEngine raised Marathon Petroleum from a “hold” rating to a “buy” rating in a research report on Thursday, October 8th. Tudor Pickering upgraded Marathon Petroleum from a “sell” rating to a “hold” rating and set a $32.00 target price on the stock in a research note on Monday, September 28th. Mizuho decreased their price target on Marathon Petroleum from $52.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, October 22nd. Finally, Cowen upgraded Marathon Petroleum from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $37.00 to $43.00 in a report on Wednesday, August 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $42.47.
Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Saturday, November 7th. The oil and gas company reported ($1.00) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.70) by $0.70. Marathon Petroleum had a negative return on equity of 1.74% and a negative net margin of 11.11%. The business had revenue of $17.55 billion during the quarter, compared to analyst estimates of $18.08 billion. During the same quarter in the previous year, the company posted $1.63 earnings per share. Marathon Petroleum’s revenue for the quarter was down 36.6% on a year-over-year basis. Equities research analysts expect that Marathon Petroleum Co. will post -3.75 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 18th will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 6.06%. The ex-dividend date is Tuesday, November 17th. Marathon Petroleum’s payout ratio is 46.96%.
About Marathon Petroleum
Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Retail, and Midstream. The Refining & Marketing segment refines crude oil and other feed stocks at its 16 refineries in the West Coast, Gulf Coast, and Mid-Continent regions of the United States; and purchases refined products and ethanol for resale.
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