Bank of New York Mellon Corp Has $265.77 Million Holdings in Marathon Petroleum Corporation (MPC)
Bank of New York Mellon Corp cut its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 3.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,739,193 shares of the oil and gas company’s stock after selling 190,797 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.97% of Marathon Petroleum Corporation worth $265,774,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of MPC. Stillwater Capital Advisors LLC increased its holdings in Marathon Petroleum Corporation by 2.1% during the 2nd quarter. Stillwater Capital Advisors LLC now owns 177,195 shares of the oil and gas company’s stock worth $9,273,000 after purchasing an additional 3,686 shares during the last quarter. Fox Run Management L.L.C. increased its holdings in Marathon Petroleum Corporation by 143.6% during the 2nd quarter. Fox Run Management L.L.C. now owns 26,800 shares of the oil and gas company’s stock worth $1,402,000 after purchasing an additional 15,800 shares during the last quarter. Capstone Asset Management Co. increased its holdings in Marathon Petroleum Corporation by 286.0% during the 2nd quarter. Capstone Asset Management Co. now owns 228,352 shares of the oil and gas company’s stock worth $11,950,000 after purchasing an additional 169,197 shares during the last quarter. City Holding Co. increased its holdings in Marathon Petroleum Corporation by 28.0% during the 2nd quarter. City Holding Co. now owns 12,950 shares of the oil and gas company’s stock worth $678,000 after purchasing an additional 2,835 shares during the last quarter. Finally, Atria Investments LLC increased its holdings in Marathon Petroleum Corporation by 36.7% during the 2nd quarter. Atria Investments LLC now owns 6,846 shares of the oil and gas company’s stock worth $358,000 after purchasing an additional 1,837 shares during the last quarter. Institutional investors own 81.02% of the company’s stock.
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Shares of Marathon Petroleum Corporation (MPC) traded up $0.26 on Friday, reaching $62.27. The company had a trading volume of 2,980,762 shares, compared to its average volume of 4,402,448. The company has a market cap of $30,290.00, a P/E ratio of 19.11, a P/E/G ratio of 1.59 and a beta of 1.60. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.80 and a current ratio of 1.52. Marathon Petroleum Corporation has a 52-week low of $42.57 and a 52-week high of $63.41.
Marathon Petroleum Corporation (NYSE:MPC) last issued its quarterly earnings data on Thursday, October 26th. The oil and gas company reported $1.77 EPS for the quarter, topping the Zacks’ consensus estimate of $1.48 by $0.29. The firm had revenue of $19.36 billion during the quarter, compared to the consensus estimate of $19.38 billion. Marathon Petroleum Corporation had a return on equity of 8.52% and a net margin of 2.35%. The firm’s revenue was up 17.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.58 EPS. equities analysts predict that Marathon Petroleum Corporation will post 3.59 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Thursday, November 16th will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, November 15th. This represents a $1.60 dividend on an annualized basis and a yield of 2.57%. Marathon Petroleum Corporation’s payout ratio is currently 50.00%.
In related news, insider Anthony R. Kenney sold 77,578 shares of the company’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $62.35, for a total transaction of $4,836,988.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP C. Michael Palmer sold 11,450 shares of the company’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $53.02, for a total value of $607,079.00. The disclosure for this sale can be found here. 1.05% of the stock is owned by corporate insiders.
MPC has been the topic of several analyst reports. Cowen and Company restated a “buy” rating and set a $60.00 price objective on shares of Marathon Petroleum Corporation in a report on Tuesday, October 17th. BidaskClub upgraded Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Scotiabank restated a “hold” rating and set a $55.00 price objective on shares of Marathon Petroleum Corporation in a report on Friday, September 1st. Citigroup Inc. lifted their price objective on Marathon Petroleum Corporation from $67.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, October 18th. Finally, Zacks Investment Research downgraded Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Marathon Petroleum Corporation currently has an average rating of “Buy” and an average price target of $65.07.
Marathon Petroleum Corporation 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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