Huntington National Bank lowered its stake in Marathon Petroleum Corp (NYSE:MPC) by 26.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 65,430 shares of the oil and gas company’s stock after selling 23,972 shares during the quarter. Huntington National Bank’s holdings in Marathon Petroleum were worth $2,446,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of MPC. Morgan Stanley lifted its stake in shares of Marathon Petroleum by 40.7% in the 1st quarter. Morgan Stanley now owns 11,669,801 shares of the oil and gas company’s stock valued at $275,640,000 after purchasing an additional 3,376,291 shares during the period. Ceredex Value Advisors LLC lifted its stake in shares of Marathon Petroleum by 126.4% in the 1st quarter. Ceredex Value Advisors LLC now owns 5,912,648 shares of the oil and gas company’s stock valued at $139,657,000 after purchasing an additional 3,301,438 shares during the period. State Street Corp increased its position in shares of Marathon Petroleum by 7.7% in the 1st quarter. State Street Corp now owns 34,885,272 shares of the oil and gas company’s stock valued at $823,990,000 after buying an additional 2,497,423 shares in the last quarter. Eminence Capital LP bought a new stake in shares of Marathon Petroleum in the 1st quarter valued at $49,802,000. Finally, APG Asset Management N.V. increased its position in shares of Marathon Petroleum by 204.6% in the 1st quarter. APG Asset Management N.V. now owns 3,019,916 shares of the oil and gas company’s stock valued at $160,967,000 after buying an additional 2,028,453 shares in the last quarter. 73.54% of the stock is currently owned by institutional investors.
Marathon Petroleum stock opened at $38.20 on Friday. The firm has a 50-day moving average of $37.01 and a 200-day moving average of $38.13. Marathon Petroleum Corp has a one year low of $15.26 and a one year high of $69.65. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.16 and a quick ratio of 0.61. The company has a market cap of $24.84 billion, a price-to-earnings ratio of -3.73 and a beta of 2.22.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be paid a dividend of $0.58 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 6.07%. Marathon Petroleum’s dividend payout ratio is 46.96%.
A number of research firms recently commented on MPC. Piper Sandler upped their price objective on shares of Marathon Petroleum from $39.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. Scotiabank lowered their price objective on shares of Marathon Petroleum from $51.00 to $48.00 and set a “sector outperform” rating for the company in a research report on Monday, July 13th. ValuEngine upgraded shares of Marathon Petroleum from a “sell” rating to a “hold” rating in a research report on Friday, April 17th. Cowen lowered their target price on Marathon Petroleum from $54.00 to $29.00 and set a “market perform” rating for the company in a report on Thursday, April 16th. Finally, Bank of America lowered their target price on Marathon Petroleum from $60.00 to $56.00 and set a “buy” rating for the company in a report on Wednesday, May 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $49.64.
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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