Marathon Petroleum Corporation (NYSE:MPC) Stake Held by Monroe Bank & Trust MI
Monroe Bank & Trust MI held its position in Marathon Petroleum Corporation (NYSE:MPC) during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 5,784 shares of the oil and gas company’s stock at the end of the first quarter. Monroe Bank & Trust MI’s holdings in Marathon Petroleum Corporation were worth $293,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Guardian Life Insurance Co. of America boosted its position in Marathon Petroleum Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,036 shares of the oil and gas company’s stock valued at $103,000 after buying an additional 14 shares in the last quarter. FTB Advisors Inc. boosted its position in shares of 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 period. Carroll Financial Associates Inc. boosted its position in shares of 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 valued at $115,000 after buying an additional 250 shares during the period. Tarbox Group Inc. boosted its position in shares of 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 valued at $122,000 after buying an additional 36 shares during the period. Finally, Pinnacle Bank bought a new position in shares of Marathon Petroleum Corporation during the first quarter valued at approximately $124,000. 79.66% of the stock is owned by institutional investors.
Marathon Petroleum Corporation (MPC) traded down 0.55% during trading on Thursday, reaching $55.89. The company’s stock had a trading volume of 2,683,033 shares. The company has a market cap of $28.28 billion, a price-to-earnings ratio of 23.48 and a beta of 1.56. The stock’s 50 day moving average is $53.87 and its 200 day moving average is $51.38. Marathon Petroleum Corporation has a 12 month low of $38.37 and a 12 month high of $56.81.
Marathon Petroleum Corporation (NYSE:MPC) last posted its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by $0.01. Marathon Petroleum Corporation had a net margin of 1.34% and a return on equity of 5.49%. The business had revenue of $18.35 billion for the quarter, compared to analysts’ expectations of $19.98 billion. During the same quarter in the previous year, the company earned $1.07 earnings per share. The business’s quarterly revenue was up 9.3% on a year-over-year basis. On average, equities analysts expect that Marathon Petroleum Corporation will post $2.79 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Wednesday, August 16th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.86%. This is a positive change from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Monday, August 14th. Marathon Petroleum Corporation’s dividend payout ratio is presently 81.82%.
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Several brokerages recently commented on MPC. BidaskClub raised Marathon Petroleum Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Cowen and Company increased their price target on Marathon Petroleum Corporation from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, July 27th. Zacks Investment Research cut Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Jefferies Group LLC reissued a “buy” rating and set a $54.83 price target (down from $65.00) on shares of Marathon Petroleum Corporation in a research report on Thursday, July 20th. Finally, Credit Suisse Group restated a “buy” rating and issued a $64.00 price objective on shares of Marathon Petroleum Corporation in a research note on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $58.62.
In other news, VP C. Michael Palmer sold 4,568 shares of the stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $52.04, for a total transaction of $237,718.72. Following the completion of the sale, the vice president now directly owns 62,325 shares in the company, valued at $3,243,393. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Thomas M. Kelley sold 25,000 shares of the stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $54.33, for a total transaction of $1,358,250.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,568 shares of company stock valued at $1,808,969. Company insiders own 1.05% of the company’s stock.
Marathon Petroleum Corporation Company Profile
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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