Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in shares of Marathon Petroleum Corp (NYSE:MPC) by 41.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 114,389 shares of the oil and gas company’s stock after selling 80,525 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Marathon Petroleum were worth $4,276,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Liberty Wealth Management LLC lifted its position in Marathon Petroleum by 157.0% during the 1st quarter. Liberty Wealth Management LLC now owns 1,732 shares of the oil and gas company’s stock worth $41,000 after acquiring an additional 1,058 shares during the period. Cerebellum GP LLC acquired a new stake in shares of Marathon Petroleum during the second quarter worth $121,000. Perennial Advisors LLC purchased a new position in Marathon Petroleum in the 1st quarter valued at $101,000. Global Retirement Partners LLC grew its position in Marathon Petroleum by 46.2% in the 1st quarter. Global Retirement Partners LLC now owns 2,027 shares of the oil and gas company’s stock valued at $48,000 after buying an additional 641 shares during the last quarter. Finally, NewSquare Capital LLC increased its stake in Marathon Petroleum by 215.6% in the 1st quarter. NewSquare Capital LLC now owns 2,225 shares of the oil and gas company’s stock valued at $53,000 after buying an additional 1,520 shares during the period. Hedge funds and other institutional investors own 73.54% of the company’s stock.
MPC has been the topic of a number of recent analyst reports. ValuEngine upgraded shares of Marathon Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, April 17th. Citigroup boosted their target price on Marathon Petroleum from $26.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Jefferies Financial Group raised their price target on Marathon Petroleum from $47.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. Morgan Stanley lifted their price target on Marathon Petroleum from $45.00 to $48.00 and gave the company an “overweight” rating in a research note on Wednesday, July 8th. Finally, Mizuho cut their price objective on Marathon Petroleum from $54.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, July 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $49.64.
Shares of MPC stock opened at $38.20 on Friday. The company has a market capitalization of $24.84 billion, a price-to-earnings ratio of 8.03 and a beta of 2.22. The company has a current ratio of 1.16, a quick ratio of 0.61 and a debt-to-equity ratio of 1.02. The firm has a 50-day moving average price of $37.01 and a 200 day moving average price of $38.13. Marathon Petroleum Corp has a twelve month low of $15.26 and a twelve month high of $69.65.
Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.15. The business had revenue of $24.08 billion during the quarter, compared to the consensus estimate of $27.96 billion. Marathon Petroleum had a negative net margin of 5.48% and a positive return on equity of 7.88%. The company’s quarterly revenue was down 15.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.09) earnings per share. As a group, research analysts predict that Marathon Petroleum Corp will post -2.76 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 6.07%. The ex-dividend date of this dividend is Tuesday, August 18th. Marathon Petroleum’s payout ratio is currently 46.96%.
About Marathon Petroleum
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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