Trust Co. of Virginia VA cut its position in shares of Marathon Petroleum Corp (NYSE:MPC) by 12.1% in the 1st quarter, Holdings Channel reports. The firm owned 9,874 shares of the oil and gas company’s stock after selling 1,360 shares during the period. Trust Co. of Virginia VA’s holdings in Marathon Petroleum were worth $591,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of MPC. BlackRock Inc. increased its position in Marathon Petroleum by 36.6% during the fourth quarter. BlackRock Inc. now owns 54,581,132 shares of the oil and gas company’s stock worth $3,220,832,000 after buying an additional 14,619,755 shares in the last quarter. Vanguard Group Inc increased its position in Marathon Petroleum by 0.7% during the third quarter. Vanguard Group Inc now owns 35,373,004 shares of the oil and gas company’s stock worth $2,828,779,000 after buying an additional 255,599 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in Marathon Petroleum by 9,095.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 14,042,197 shares of the oil and gas company’s stock worth $238,000 after buying an additional 13,889,489 shares in the last quarter. Bank of New York Mellon Corp increased its position in Marathon Petroleum by 42.6% during the fourth quarter. Bank of New York Mellon Corp now owns 12,418,710 shares of the oil and gas company’s stock worth $732,828,000 after buying an additional 3,708,740 shares in the last quarter. Finally, Boston Partners increased its position in Marathon Petroleum by 81.9% during the fourth quarter. Boston Partners now owns 12,173,365 shares of the oil and gas company’s stock worth $718,350,000 after buying an additional 5,479,818 shares in the last quarter. 77.93% of the stock is owned by hedge funds and other institutional investors.
In other Marathon Petroleum news, insider Donald C. Templin acquired 5,000 shares of the stock in a transaction dated Wednesday, May 15th. The stock was acquired at an average price of $50.74 per share, with a total value of $253,700.00. Following the completion of the transaction, the insider now directly owns 93,182 shares in the company, valued at $4,728,054.68. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Gary R. Heminger sold 187,142 shares of Marathon Petroleum stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $65.00, for a total value of $12,164,230.00. Following the completion of the sale, the chief executive officer now directly owns 434,166 shares of the company’s stock, valued at approximately $28,220,790. The disclosure for this sale can be found here. 1.06% of the stock is owned by insiders.
Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Wednesday, May 8th. The oil and gas company reported ($0.09) EPS for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.10). The business had revenue of $28.62 billion during the quarter, compared to analysts’ expectations of $27.70 billion. Marathon Petroleum had a net margin of 2.56% and a return on equity of 11.10%. Marathon Petroleum’s revenue for the quarter was up 50.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.08 EPS. Sell-side analysts expect that Marathon Petroleum Corp will post 4.77 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Thursday, May 16th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date of this dividend is Wednesday, May 15th. Marathon Petroleum’s dividend payout ratio is currently 31.27%.
Several research firms have weighed in on MPC. Macquarie began coverage on Marathon Petroleum in a research report on Tuesday, February 5th. They set an “outperform” rating and a $67.18 price target for the company. Raymond James dropped their price target on Marathon Petroleum from $90.00 to $85.00 and set a “strong-buy” rating for the company in a research report on Wednesday, April 10th. Citigroup dropped their price target on Marathon Petroleum from $91.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, March 4th. ValuEngine downgraded Marathon Petroleum from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th. Finally, Morgan Stanley dropped their price target on Marathon Petroleum from $85.00 to $82.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. Marathon Petroleum presently has an average rating of “Buy” and an average price target of $85.68.
Marathon Petroleum Profile
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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