Marathon Petroleum Corporation (NYSE:MPC) Shares Bought by Thrivent Financial For Lutherans
Thrivent Financial For Lutherans raised its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 3.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,468 shares of the oil and gas company’s stock after buying an additional 720 shares during the period. Thrivent Financial For Lutherans’ holdings in Marathon Petroleum Corporation were worth $984,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in MPC. FTB Advisors Inc. raised its stake in Marathon Petroleum Corporation by 484.9% in the first quarter. FTB Advisors Inc. now owns 2,047 shares of the oil and gas company’s stock valued at $104,000 after buying an additional 1,697 shares during the last quarter. Carroll Financial Associates Inc. raised its stake in Marathon Petroleum Corporation by 12.3% in the first quarter. Carroll Financial Associates Inc. now owns 2,287 shares of the oil and gas company’s stock worth $115,000 after buying an additional 250 shares during the last quarter. Tarbox Group Inc. raised its stake in Marathon Petroleum Corporation by 1.5% in the first quarter. Tarbox Group Inc. now owns 2,423 shares of the oil and gas company’s stock worth $122,000 after buying an additional 36 shares during the last quarter. Pinnacle Bank purchased a new stake in Marathon Petroleum Corporation during the first quarter worth $124,000. Finally, Tompkins Financial Corp raised its stake in Marathon Petroleum Corporation by 413.6% in the first quarter. Tompkins Financial Corp now owns 3,595 shares of the oil and gas company’s stock worth $134,000 after buying an additional 2,895 shares during the last quarter. 79.66% of the stock is currently owned by institutional investors.
Shares of Marathon Petroleum Corporation (NYSE:MPC) traded down 0.55% on Thursday, reaching $55.89. 2,683,033 shares of the company traded hands. The firm’s 50 day moving average is $53.87 and its 200 day moving average is $51.38. The company has a market capitalization of $28.28 billion, a P/E ratio of 23.48 and a beta of 1.56. Marathon Petroleum Corporation has a one year low of $38.37 and a one year high of $56.81.
Marathon Petroleum Corporation (NYSE:MPC) last released its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.04 by $0.01. The business had revenue of $18.35 billion during the quarter, compared to analyst estimates of $19.98 billion. Marathon Petroleum Corporation had a net margin of 1.34% and a return on equity of 5.49%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the business earned $1.07 earnings per share. Analysts expect that Marathon Petroleum Corporation will post $2.79 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Wednesday, August 16th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, August 14th. This is a positive change from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a yield of 2.86%. Marathon Petroleum Corporation’s dividend payout ratio (DPR) is 81.82%.
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A number of equities research analysts recently weighed in on MPC shares. Citigroup Inc. reaffirmed a “buy” rating and set a $67.00 price target (down from $68.50) on shares of Marathon Petroleum Corporation in a report on Saturday, April 22nd. Royal Bank Of Canada reiterated a “buy” rating and set a $69.00 price objective on shares of Marathon Petroleum Corporation in a research note on Thursday, June 1st. Scotiabank restated a “hold” rating and issued a $54.00 price target on shares of Marathon Petroleum Corporation in a research report on Friday, April 28th. Jefferies Group LLC restated a “buy” rating and issued a $61.00 price target on shares of Marathon Petroleum Corporation in a research report on Wednesday, April 19th. Finally, Piper Jaffray Companies restated an “overweight” rating and issued a $62.00 price target on shares of Marathon Petroleum Corporation in a research report on Thursday, May 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $58.62.
In other news, VP C. Michael Palmer sold 4,000 shares of Marathon Petroleum Corporation stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $53.25, for a total transaction of $213,000.00. Following the sale, the vice president now directly owns 61,757 shares of the company’s stock, valued at $3,288,560.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas M. Kelley sold 25,000 shares of Marathon Petroleum Corporation stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $54.33, for a total value of $1,358,250.00. The disclosure for this sale can be found here. Insiders have sold 33,568 shares of company stock worth $1,808,969 over the last three months. Insiders own 1.05% of the company’s stock.
About Marathon Petroleum Corporation
Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.
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