Hartford Financial Management Inc. trimmed its position in shares of Marathon Petroleum Corp (NYSE:MPC) by 2.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 36,625 shares of the oil and gas company’s stock after selling 798 shares during the quarter. Hartford Financial Management Inc.’s holdings in Marathon Petroleum were worth $2,929,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of MPC. PointState Capital LP purchased a new stake in Marathon Petroleum during the second quarter worth $378,482,000. Bank of Montreal Can purchased a new stake in Marathon Petroleum during the second quarter worth $184,334,000. Bank of New York Mellon Corp boosted its position in Marathon Petroleum by 44.1% during the second quarter. Bank of New York Mellon Corp now owns 7,506,332 shares of the oil and gas company’s stock worth $526,645,000 after purchasing an additional 2,297,774 shares in the last quarter. Morgan Stanley boosted its position in Marathon Petroleum by 59.5% during the second quarter. Morgan Stanley now owns 5,798,607 shares of the oil and gas company’s stock worth $406,829,000 after purchasing an additional 2,162,851 shares in the last quarter. Finally, Third Point LLC boosted its position in Marathon Petroleum by 55.0% during the second quarter. Third Point LLC now owns 3,100,000 shares of the oil and gas company’s stock worth $217,496,000 after purchasing an additional 1,100,000 shares in the last quarter. Institutional investors own 83.02% of the company’s stock.
Several brokerages have recently issued reports on MPC. ValuEngine downgraded Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research downgraded Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Friday, October 19th. Citigroup upped their price objective on Marathon Petroleum from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, October 16th. Morgan Stanley set a $110.00 price objective on Marathon Petroleum and gave the company a “buy” rating in a research report on Friday, October 12th. Finally, Tudor Pickering upgraded Marathon Petroleum from a “hold” rating to a “buy” rating in a research report on Thursday, October 11th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $92.38.
Marathon Petroleum (NYSE:MPC) last released its earnings results on Thursday, November 1st. The oil and gas company reported $1.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.02. Marathon Petroleum had a return on equity of 12.83% and a net margin of 4.89%. The firm had revenue of $23.13 billion for the quarter, compared to the consensus estimate of $23.20 billion. During the same period in the prior year, the business posted $1.77 earnings per share. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. On average, equities analysts anticipate that Marathon Petroleum Corp will post 5.08 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Wednesday, November 21st will be given a dividend of $0.46 per share. The ex-dividend date is Tuesday, November 20th. This represents a $1.84 annualized dividend and a yield of 2.65%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 48.42%.
Marathon Petroleum Company Profile
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, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.
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