Marathon Petroleum Corporation $MPC Shares Sold by Russell Investments Group Ltd.
Russell Investments Group Ltd. reduced its stake in Marathon Petroleum Corporation (NYSE:MPC — Free Report) by 16.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 212,463 shares of the oil and gas company’s stock after selling 41,627 shares during the period. Russell Investments Group Ltd. owned approximately 0.07% of Marathon Petroleum worth $35,314,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of MPC. Baker Tilly Wealth Management LLC raised its stake in shares of Marathon Petroleum by 2.8% in the 2nd quarter. Baker Tilly Wealth Management LLC now owns 2,226 shares of the oil and gas company’s stock valued at $370,000 after acquiring an additional 60 shares during the period. CHICAGO TRUST Co NA increased its holdings in Marathon Petroleum by 3.9% in the 2nd quarter. CHICAGO TRUST Co NA now owns 1,684 shares of the oil and gas company’s stock valued at $280,000 after purchasing an additional 63 shares during the last quarter. Werba Rubin Papier Wealth Management raised its position in Marathon Petroleum by 4.2% in the second quarter. Werba Rubin Papier Wealth Management now owns 1,577 shares of the oil and gas company’s stock valued at $262,000 after purchasing an additional 64 shares during the period. AdvisorShares Investments LLC lifted its stake in Marathon Petroleum by 2.4% during the second quarter. AdvisorShares Investments LLC now owns 2,828 shares of the oil and gas company’s stock worth $470,000 after purchasing an additional 66 shares in the last quarter. Finally, Joseph Group Capital Management boosted its position in shares of Marathon Petroleum by 0.3% during the second quarter. Joseph Group Capital Management now owns 21,904 shares of the oil and gas company’s stock worth $3,639,000 after buying an additional 67 shares during the period. Hedge funds and other institutional investors own 76.77% of the company’s stock.
Marathon Petroleum Stock Up 1.0%
Shares of Marathon Petroleum stock opened at $193.73 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 1.31. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $202.29. The company has a market capitalization of $58.24 billion, a P/E ratio of 20.65, a P/E/G ratio of 0.98 and a beta of 0.90. The company has a 50 day moving average of $191.67 and a 200 day moving average of $177.36.
Marathon Petroleum (NYSE:MPC — Get Free Report) last announced its quarterly earnings data on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share for the quarter, beating analysts’ consensus estimates of $3.00 by $0.01. The business had revenue of $34.81 billion for the quarter, compared to analyst estimates of $31.06 billion. Marathon Petroleum had a net margin of 2.13% and a return on equity of 9.76%. As a group, research analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.
Marathon Petroleum Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 19th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $4.00 annualized dividend and a dividend yield of 2.1%. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.91. Marathon Petroleum’s payout ratio is currently 42.64%.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on MPC. Morgan Stanley boosted their price objective on Marathon Petroleum from $182.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, October 3rd. UBS Group lifted their target price on Marathon Petroleum from $203.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, September 26th. Wall Street Zen raised shares of Marathon Petroleum from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Piper Sandler raised their price objective on shares of Marathon Petroleum from $220.00 to $231.00 and gave the company a “neutral” rating in a research note on Friday, November 14th. Finally, Bank of America upped their target price on shares of Marathon Petroleum from $184.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 3rd. Eight research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, Marathon Petroleum has an average rating of “Hold” and an average price target of $202.14.
Get Our Latest Stock Report on Marathon Petroleum
Marathon Petroleum Company Profile
Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.
Further Reading
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