Gamco Investors INC. ET AL bought a new position in shares of Marathon Petroleum Corp (NYSE:MPC) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 23,153 shares of the oil and gas company’s stock, valued at approximately $1,386,000.
Several other hedge funds have also recently bought and sold shares of MPC. Hanson McClain Inc. bought a new stake in shares of Marathon Petroleum in the 4th quarter worth approximately $25,000. Alpha Omega Wealth Management LLC boosted its position in shares of Marathon Petroleum by 135.1% in the 1st 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 in the last quarter. Certified Advisory Corp boosted its position in shares of Marathon Petroleum by 71.2% in the 4th quarter. Certified Advisory Corp now owns 476 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 198 shares in the last quarter. SeaBridge Investment Advisors LLC bought a new stake in shares of Marathon Petroleum in the 4th quarter worth approximately $30,000. Finally, Claybrook Capital LLC bought a new stake in shares of Marathon Petroleum in the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 77.93% of the company’s stock.
A number of brokerages have recently commented on MPC. ValuEngine cut Marathon Petroleum from a “sell” rating to a “strong sell” rating in a research report on Thursday, May 9th. Raymond James dropped their price target on 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 dropped their price target on Marathon Petroleum from $71.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Credit Suisse Group dropped their price target on Marathon Petroleum from $95.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, Cowen cut Marathon Petroleum from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $90.00 to $65.00 in a research report on Friday, May 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. Marathon Petroleum has an average rating of “Buy” and a consensus price target of $86.27.
MPC stock opened at $51.31 on Wednesday. The company has a market capitalization of $33.61 billion, a P/E ratio of 7.57, a price-to-earnings-growth ratio of 1.24 and a beta of 1.35. Marathon Petroleum Corp has a 12-month low of $50.60 and a 12-month high of $88.45. The company has a current ratio of 1.20, a quick ratio of 0.55 and a debt-to-equity ratio of 0.69.
Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Wednesday, May 8th. The oil and gas company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.10). The business had revenue of $28.62 billion during the quarter, compared to the consensus estimate of $27.70 billion. Marathon Petroleum had a net margin of 2.56% and a return on equity of 11.10%. The business’s revenue was up 50.7% compared to the same quarter last year. During the same period last year, the company posted $0.08 earnings per share. As a group, analysts forecast that Marathon Petroleum Corp will post 5.07 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 16th will be given a $0.53 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $2.12 annualized dividend and a yield of 4.13%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 31.27%.
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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