White Pine Investment CO Has $3,074,000 Stake in Marathon Petroleum Corp. (MPC)
White Pine Investment CO boosted its position in Marathon Petroleum Corp. (NYSE:MPC) by 0.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,740 shares of the company’s stock after buying an additional 400 shares during the period. Marathon Petroleum Corp. makes up 1.8% of White Pine Investment CO’s portfolio, making the stock its 24th largest position. White Pine Investment CO’s holdings in Marathon Petroleum Corp. were worth $3,074,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Rowland & Co. Investment Counsel ADV purchased a new stake in Marathon Petroleum Corp. during the third quarter worth $105,000. 1832 Asset Management L.P. raised its stake in 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 raised its stake 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 period. Amica Retiree Medical Trust purchased a new stake in Marathon Petroleum Corp. during the second quarter worth $117,000. Finally, Gierl Augustine Investment Management Inc raised its stake 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 period. 77.68% of the stock is currently owned by institutional investors and hedge funds.
Shares of Marathon Petroleum Corp. (NYSE:MPC) traded down 2.27% on Tuesday, hitting $45.98. 7,758,660 shares of the company traded hands. Marathon Petroleum Corp. has a 1-year low of $29.24 and a 1-year high of $59.99. The firm has a market capitalization of $24.27 billion, a P/E ratio of 21.65 and a beta of 1.80. The firm’s 50-day moving average is $43.48 and its 200 day moving average is $40.10.
Marathon Petroleum Corp. (NYSE:MPC) last announced its quarterly earnings results on Thursday, October 27th. The company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.81 by $0.23. Marathon Petroleum Corp. had a return on equity of 6.74% and a net margin of 1.84%. The business earned $16.46 billion during the quarter, compared to the consensus estimate of $17.18 billion. During the same quarter in the prior year, the firm posted $1.76 EPS. The company’s revenue for the quarter was down 11.2% on a year-over-year basis. On average, analysts anticipate that Marathon Petroleum Corp. will post $2.05 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Wednesday, November 16th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend is Monday, November 14th. Marathon Petroleum Corp.’s dividend payout ratio is presently 67.61%.
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MPC has been the subject of a number of research reports. Scotiabank reissued a “sector perform” rating and issued a $47.00 price target (up previously from $45.00) on shares of Marathon Petroleum Corp. in a research note on Friday, October 28th. Vetr raised shares of Marathon Petroleum Corp. from a “buy” rating to a “strong-buy” rating and set a $46.33 price target for the company in a research note on Monday, August 1st. Goldman Sachs Group Inc. reissued a “buy” rating and issued a $54.00 price target on shares of Marathon Petroleum Corp. in a research note on Wednesday, October 12th. TheStreet raised shares of 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 investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $52.30.
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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