Corigliano Investment Advisers LLC Takes Position in Marathon Petroleum Corporation $MPC

Corigliano Investment Advisers LLC acquired a new stake in Marathon Petroleum Corporation (NYSE:MPCFree Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 76,200 shares of the oil and gas company’s stock, valued at approximately $12,392,000. Marathon Petroleum makes up 4.4% of Corigliano Investment Advisers LLC’s portfolio, making the stock its 7th biggest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Alberta Investment Management Corp purchased a new position in shares of Marathon Petroleum during the third quarter valued at approximately $2,891,000. Diversified Trust Co. boosted its stake in Marathon Petroleum by 39.3% in the fourth quarter. Diversified Trust Co. now owns 15,675 shares of the oil and gas company’s stock valued at $2,549,000 after acquiring an additional 4,419 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in Marathon Petroleum during the third quarter valued at $1,004,000. USA Financial Formulas bought a new position in shares of Marathon Petroleum during the 4th quarter worth $791,000. Finally, KBC Group NV increased its stake in shares of Marathon Petroleum by 22.4% in the fourth quarter. KBC Group NV now owns 225,837 shares of the oil and gas company’s stock worth $36,728,000 after purchasing an additional 41,259 shares in the last quarter. Institutional investors own 76.77% of the company’s stock.

Key Headlines Impacting Marathon Petroleum

Here are the key news stories impacting Marathon Petroleum this week:

Marathon Petroleum Trading Down 2.3%

NYSE:MPC opened at $244.63 on Thursday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.18 and a quick ratio of 0.73. The firm has a market capitalization of $71.42 billion, a P/E ratio of 15.97, a PEG ratio of 0.38 and a beta of 0.52. The company’s 50-day simple moving average is $244.99 and its 200 day simple moving average is $213.77. Marathon Petroleum Corporation has a one year low of $158.00 and a one year high of $272.46.

Marathon Petroleum (NYSE:MPCGet Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.91. The firm had revenue of $34.20 billion during the quarter, compared to the consensus estimate of $33.42 billion. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The company’s revenue was up 8.5% on a year-over-year basis. During the same period last year, the company earned ($0.24) earnings per share. As a group, analysts forecast that Marathon Petroleum Corporation will post 31.95 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were given a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $4.00 dividend on an annualized basis and a yield of 1.6%. Marathon Petroleum’s payout ratio is 26.11%.

Analyst Ratings Changes

A number of analysts recently issued reports on MPC shares. Scotiabank boosted their price objective on Marathon Petroleum from $174.00 to $210.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. UBS Group set a $285.00 price objective on shares of Marathon Petroleum in a report on Wednesday, May 6th. Morgan Stanley increased their price target on shares of Marathon Petroleum from $233.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. Jefferies Financial Group lifted their price objective on Marathon Petroleum from $279.00 to $296.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Finally, Bank of America increased their price target on shares of Marathon Petroleum from $224.00 to $260.00 in a research report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $272.94.

View Our Latest Stock Analysis on Marathon Petroleum

Insiders Place Their Bets

In related news, VP Michael A. Henschen II sold 6,336 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the transaction, the vice president owned 16,900 shares in the company, valued at $4,543,058. This represents a 27.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is currently owned by company insiders.

Marathon Petroleum Company Profile

(Free Report)

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.

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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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