Trillium Asset Management LLC Acquires 9,667 Shares of Marathon Petroleum Corp (NYSE:MPC)
Trillium Asset Management LLC increased its holdings in shares of Marathon Petroleum Corp (NYSE:MPC) by 8.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,485 shares of the oil and gas company’s stock after purchasing an additional 9,667 shares during the period. Trillium Asset Management LLC’s holdings in Marathon Petroleum were worth $3,035,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Marathon Petroleum by 1.1% during the 4th quarter. State Street Corp now owns 32,387,849 shares of the oil and gas company’s stock valued at $1,951,368,000 after purchasing an additional 365,638 shares in the last quarter. Boston Partners lifted its holdings in shares of Marathon Petroleum by 32.8% during the 4th quarter. Boston Partners now owns 17,001,761 shares of the oil and gas company’s stock valued at $1,024,564,000 after purchasing an additional 4,194,733 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Marathon Petroleum by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 9,257,682 shares of the oil and gas company’s stock valued at $556,529,000 after purchasing an additional 193,632 shares in the last quarter. Norges Bank bought a new position in shares of Marathon Petroleum during the 4th quarter valued at about $421,784,000. Finally, Alliancebernstein L.P. lifted its holdings in shares of Marathon Petroleum by 15.7% during the 4th quarter. Alliancebernstein L.P. now owns 5,368,413 shares of the oil and gas company’s stock valued at $323,447,000 after purchasing an additional 730,249 shares in the last quarter. Institutional investors and hedge funds own 77.56% of the company’s stock.
Several research firms have commented on MPC. Cfra cut Marathon Petroleum from a “hold” rating to a “sell” rating in a research note on Friday, March 27th. ValuEngine upgraded Marathon Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, April 17th. JPMorgan Chase & Co. cut their target price on Marathon Petroleum from $72.00 to $66.00 and set a “neutral” rating on the stock in a research note on Monday, March 2nd. TheStreet cut Marathon Petroleum from a “c” rating to a “d” rating in a research note on Tuesday, May 5th. Finally, Piper Sandler cut their target price on Marathon Petroleum from $82.00 to $74.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. Marathon Petroleum has an average rating of “Buy” and an average price target of $55.62.
Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported ($0.16) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.31) by $0.15. The firm had revenue of $24.08 billion for the quarter, compared to analyst estimates of $27.96 billion. Marathon Petroleum had a positive return on equity of 7.88% and a negative net margin of 5.48%. The business’s quarterly revenue was down 15.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.09) EPS. As a group, research analysts predict that Marathon Petroleum Corp will post -2.19 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 7.66%. The ex-dividend date is Tuesday, May 19th. Marathon Petroleum’s dividend payout ratio (DPR) is 46.96%.
About Marathon Petroleum
Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing; Retail; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals and trucks that the company owns or operates.
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