Comerica Bank trimmed its stake in shares of Marathon Petroleum Corp (NYSE:MPC) by 16.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 118,878 shares of the oil and gas company’s stock after selling 23,852 shares during the quarter. Comerica Bank’s holdings in Marathon Petroleum were worth $8,570,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. NEXT Financial Group Inc bought a new position in shares of Marathon Petroleum in the 3rd quarter worth about $124,000. Legacy Financial Advisors Inc. bought a new position in shares of Marathon Petroleum in the 2nd quarter worth about $113,000. Destination Wealth Management bought a new position in shares of Marathon Petroleum in the 2nd quarter worth about $144,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in shares of Marathon Petroleum in the 2nd quarter worth about $147,000. Finally, Squar Milner Financial Services LLC bought a new position in shares of Marathon Petroleum in the 2nd quarter worth about $156,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.
A number of research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Marathon Petroleum from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a research report on Tuesday, October 9th. Wells Fargo & Co restated a “buy” rating on shares of Marathon Petroleum in a research report on Monday, August 27th. Barclays assumed coverage on shares of Marathon Petroleum in a research report on Wednesday, October 3rd. They issued an “overweight” rating and a $125.00 price target on the stock. Citigroup raised their price target on shares of Marathon Petroleum from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, September 7th. Finally, Goldman Sachs Group initiated coverage on shares of Marathon Petroleum in a report on Tuesday, October 2nd. They issued a “conviction-buy” rating on the stock. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Marathon Petroleum has an average rating of “Buy” and a consensus target price of $92.38.
MPC stock opened at $67.18 on Friday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.04 and a current ratio of 1.65. Marathon Petroleum Corp has a fifty-two week low of $60.10 and a fifty-two week high of $88.45. 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 (NYSE:MPC) last released its quarterly earnings data on Thursday, November 1st. The oil and gas company reported $1.70 earnings per share for the quarter, topping 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 business had revenue of $23.13 billion for the quarter, compared to analysts’ expectations of $23.20 billion. During the same quarter last year, the company earned $1.77 EPS. The company’s revenue for the quarter was up 19.3% compared to the same quarter last year. As a group, research analysts forecast 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 paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Tuesday, November 20th. This represents a $1.84 annualized dividend and a yield of 2.74%. Marathon Petroleum’s payout ratio is 48.42%.
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Marathon Petroleum Company Profile
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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