Foundry Partners LLC Has $7,883,000 Stake in Marathon Petroleum Corp. (MPC)
Foundry Partners LLC increased its position in Marathon Petroleum Corp. (NYSE:MPC) by 7.1% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 194,201 shares of the company’s stock after buying an additional 12,875 shares during the period. Foundry Partners LLC’s holdings in Marathon Petroleum Corp. were worth $7,883,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the company. 1832 Asset Management L.P. boosted its stake in shares of Marathon Petroleum Corp. by 3,222.6% in the second quarter. 1832 Asset Management L.P. now owns 2,791 shares of the company’s stock worth $106,000 after buying an additional 2,707 shares during the period. AlphaMark Advisors LLC boosted its position in Marathon Petroleum Corp. by 98.7% in the second quarter. AlphaMark Advisors LLC now owns 3,020 shares of the company’s stock worth $115,000 after buying an additional 1,500 shares during the last quarter. Amica Retiree Medical Trust acquired a new position in Marathon Petroleum Corp. during the second quarter worth about $117,000. Gierl Augustine Investment Management Inc boosted its position in Marathon Petroleum Corp. by 35.2% in the second quarter. Gierl Augustine Investment Management Inc now owns 3,124 shares of the company’s stock worth $119,000 after buying an additional 814 shares during the last quarter. Finally, Mercer Capital Advisers Inc. boosted its position in Marathon Petroleum Corp. by 433.5% in the second quarter. Mercer Capital Advisers Inc. now owns 3,692 shares of the company’s stock worth $140,000 after buying an additional 3,000 shares during the last quarter. 78.86% of the stock is owned by institutional investors and hedge funds.
Marathon Petroleum Corp. (NYSE:MPC) opened at 43.31 on Friday. The stock’s 50 day moving average price is $42.32 and its 200-day moving average price is $39.48. The company has a market cap of $22.86 billion, a price-to-earnings ratio of 20.39 and a beta of 1.80. Marathon Petroleum Corp. has a 52 week low of $29.24 and a 52 week high of $59.99.
Marathon Petroleum Corp. (NYSE:MPC) last released its quarterly earnings results on Thursday, October 27th. The company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by $0.23. The company had revenue of $16.46 billion for the quarter, compared to analyst estimates of $17.18 billion. Marathon Petroleum Corp. had a net margin of 1.84% and a return on equity of 6.74%. Marathon Petroleum Corp.’s revenue for the quarter was down 11.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.76 EPS. On average, equities research analysts forecast that Marathon Petroleum Corp. will post $2.05 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 12th. Shareholders of record on Wednesday, November 16th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, November 14th. This represents a $1.44 dividend on an annualized basis and a yield of 3.32%. Marathon Petroleum Corp.’s dividend payout ratio (DPR) is currently 67.61%.
A number of research analysts have issued reports on MPC shares. Scotiabank reissued a “sector perform” rating and issued a $47.00 target price (up from $45.00) on shares of Marathon Petroleum Corp. in a research note on Friday, October 28th. Vetr raised Marathon Petroleum Corp. from a “buy” rating to a “strong-buy” rating and set a $46.33 target price for the company in a research note on Monday, August 1st. Goldman Sachs Group Inc. reissued a “buy” rating and issued a $54.00 target price on shares of Marathon Petroleum Corp. in a research note on Wednesday, October 12th. TheStreet raised Marathon Petroleum Corp. from a “hold” rating to a “buy” rating in a research note on Monday, August 8th. Finally, Bank of America Corp. reissued a “buy” rating on shares of Marathon Petroleum Corp. in a research note on Monday, September 26th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $52.78.
Marathon Petroleum Corp. Company Profile
Marathon Petroleum Corporation is engaged in petroleum product refining, marketing, retail and transportation businesses in the United States and the east of the Mississippi. The Company’s segments include Refining & Marketing, Speedway, and Midstream. Its Refining & Marketing segment refines crude oil and other feedstocks at its approximately seven refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products.
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