Wheatland Advisors Inc. decreased its holdings in Marathon Petroleum Corp (NYSE:MPC) by 0.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 85,569 shares of the oil and gas company’s stock after selling 523 shares during the quarter. Marathon Petroleum accounts for about 3.6% of Wheatland Advisors Inc.’s investment portfolio, making the stock its 3rd largest position. Wheatland Advisors Inc.’s holdings in Marathon Petroleum were worth $4,782,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Nordea Investment Management AB grew its holdings in shares of Marathon Petroleum by 13.9% during the 1st quarter. Nordea Investment Management AB now owns 352,470 shares of the oil and gas company’s stock valued at $21,096,000 after acquiring an additional 42,946 shares in the last quarter. Carderock Capital Management Inc. grew its holdings in shares of Marathon Petroleum by 1.4% during the 2nd quarter. Carderock Capital Management Inc. now owns 41,462 shares of the oil and gas company’s stock valued at $2,317,000 after acquiring an additional 588 shares in the last quarter. Next Capital Management LLC purchased a new position in shares of Marathon Petroleum during the 2nd quarter valued at $35,000. Gulf International Bank UK Ltd grew its holdings in shares of Marathon Petroleum by 1.2% during the 2nd quarter. Gulf International Bank UK Ltd now owns 162,763 shares of the oil and gas company’s stock valued at $9,095,000 after acquiring an additional 1,929 shares in the last quarter. Finally, Horizon Investments LLC purchased a new position in shares of Marathon Petroleum during the 1st quarter valued at $3,206,000. Hedge funds and other institutional investors own 77.55% of the company’s stock.
Shares of MPC stock traded down $1.13 on Friday, hitting $45.76. The company’s stock had a trading volume of 5,129,745 shares, compared to its average volume of 5,893,537. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.24 and a quick ratio of 0.63. Marathon Petroleum Corp has a fifty-two week low of $43.96 and a fifty-two week high of $88.45. The firm’s fifty day moving average price is $52.34 and its 200-day moving average price is $56.20. The stock has a market capitalization of $30.87 billion, a price-to-earnings ratio of 6.75, a P/E/G ratio of 1.07 and a beta of 1.68.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 4.63%. The ex-dividend date is Tuesday, August 20th. Marathon Petroleum’s payout ratio is presently 31.27%.
In other Marathon Petroleum news, Director James E. Rohr acquired 12,500 shares of Marathon Petroleum stock in a transaction that occurred on Tuesday, June 11th. The stock was acquired at an average price of $48.14 per share, with a total value of $601,750.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.06% of the stock is currently owned by insiders.
Several equities analysts have recently commented on the stock. Cowen cut shares of Marathon Petroleum from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $90.00 to $65.00 in a report on Friday, May 10th. Morgan Stanley lowered their price target on shares of Marathon Petroleum from $82.00 to $75.00 and set an “overweight” rating on the stock in a report on Friday, May 17th. Wells Fargo & Co lowered their price target on shares of Marathon Petroleum from $96.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. ValuEngine upgraded shares of Marathon Petroleum from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 22nd. Finally, Raymond James boosted their price target on shares of Marathon Petroleum from $72.00 to $75.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $82.62.
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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