Daiwa Securities Group Inc. decreased its holdings in shares of Marathon Petroleum Corp (NYSE:MPC) by 34.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 34,389 shares of the oil and gas company’s stock after selling 18,420 shares during the period. Daiwa Securities Group Inc.’s holdings in Marathon Petroleum were worth $2,750,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in MPC. PointState Capital LP acquired a new stake in shares of Marathon Petroleum during the second quarter worth about $378,482,000. Bank of Montreal Can acquired a new stake in shares of Marathon Petroleum during the second quarter worth about $184,334,000. Bank of New York Mellon Corp boosted its stake in shares of Marathon Petroleum by 44.1% during the second quarter. Bank of New York Mellon Corp now owns 7,506,332 shares of the oil and gas company’s stock worth $526,645,000 after buying an additional 2,297,774 shares during the period. Morgan Stanley boosted its stake in shares of Marathon Petroleum by 59.5% during the second quarter. Morgan Stanley now owns 5,798,607 shares of the oil and gas company’s stock worth $406,829,000 after buying an additional 2,162,851 shares during the period. Finally, Third Point LLC boosted its stake in shares of Marathon Petroleum by 55.0% during the second quarter. Third Point LLC now owns 3,100,000 shares of the oil and gas company’s stock worth $217,496,000 after buying an additional 1,100,000 shares during the period. Institutional investors and hedge funds own 83.07% of the company’s stock.
Shares of NYSE:MPC opened at $67.18 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.65 and a quick ratio of 1.04. The stock has a market capitalization of $30.84 billion, a P/E ratio of 17.68, a PEG ratio of 0.93 and a beta of 1.50. Marathon Petroleum Corp has a 52 week low of $60.10 and a 52 week high of $88.45.
Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Thursday, November 1st. The oil and gas company reported $1.70 EPS for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.02. Marathon Petroleum had a net margin of 4.48% and a return on equity of 12.28%. The firm had revenue of $23.13 billion during the quarter, compared to the consensus estimate of $23.20 billion. During the same quarter last year, the firm earned $1.77 earnings per share. The firm’s revenue was up 19.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Marathon Petroleum Corp will post 5.16 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Wednesday, November 21st will be issued a $0.46 dividend. The ex-dividend date of this dividend is Tuesday, November 20th. This represents a $1.84 dividend on an annualized basis and a yield of 2.74%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 48.42%.
A number of brokerages recently commented on MPC. Citigroup raised their price objective on shares of Marathon Petroleum from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, September 7th. Tudor Pickering upgraded shares of Marathon Petroleum from a “hold” rating to a “buy” rating in a research report on Thursday, October 11th. Morgan Stanley set a $110.00 price objective on shares of Marathon Petroleum and gave the company a “buy” rating in a research report on Friday, October 12th. Zacks Investment Research downgraded shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Tuesday, September 11th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Marathon Petroleum from $98.00 to $102.00 and gave the company an “overweight” rating in a research report on Friday, July 27th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Marathon Petroleum presently has a consensus rating of “Buy” and a consensus price target of $92.38.
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About Marathon Petroleum
Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.
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