Kensico Capital Management Corp raised its stake in Marathon Petroleum Corporation (NYSE:MPC) by 7.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,260,000 shares of the oil and gas company’s stock after buying an additional 660,000 shares during the period. Marathon Petroleum Corporation accounts for 7.8% of Kensico Capital Management Corp’s holdings, making the stock its 5th largest position. Kensico Capital Management Corp owned 1.79% of Marathon Petroleum Corporation worth $468,000,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of MPC. Cullinan Associates Inc. boosted its position in shares of Marathon Petroleum Corporation by 0.9% in the first quarter. Cullinan Associates Inc. now owns 129,810 shares of the oil and gas company’s stock valued at $6,561,000 after buying an additional 1,182 shares during the period. Blockhouse Capital Management LP purchased a new stake in Marathon Petroleum Corporation during the first quarter valued at approximately $14,970,000. Wealthfront Inc. raised its stake in Marathon Petroleum Corporation by 7.1% in the fourth quarter. Wealthfront Inc. now owns 12,271 shares of the oil and gas company’s stock valued at $618,000 after buying an additional 812 shares in the last quarter. HITE Hedge Asset Management LLC purchased a new stake in Marathon Petroleum Corporation during the fourth quarter valued at approximately $4,350,000. Finally, Hartford Investment Management Co. raised its stake in Marathon Petroleum Corporation by 13.2% in the first quarter. Hartford Investment Management Co. now owns 147,217 shares of the oil and gas company’s stock valued at $7,440,000 after buying an additional 17,182 shares in the last quarter. 79.21% of the stock is owned by hedge funds and other institutional investors.
Marathon Petroleum Corporation (NYSE MPC) opened at 54.20 on Wednesday. The company’s 50-day moving average is $52.80 and its 200-day moving average is $50.62. The firm has a market capitalization of $28.12 billion, a price-to-earnings ratio of 23.90 and a beta of 1.56. Marathon Petroleum Corporation has a 52-week low of $35.43 and a 52-week high of $55.20.
Marathon Petroleum Corporation (NYSE:MPC) last issued its quarterly earnings data on Thursday, April 27th. The oil and gas company reported $0.06 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.07. The firm had revenue of $16.39 billion for the quarter, compared to analysts’ expectations of $19.03 billion. Marathon Petroleum Corporation had a net margin of 1.80% and a return on equity of 5.68%. The firm’s revenue was up 27.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.07 EPS. Equities analysts predict that Marathon Petroleum Corporation will post $2.91 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 12th. Investors of record on Wednesday, May 17th were paid a $0.36 dividend. The ex-dividend date of this dividend was Monday, May 15th. This represents a $1.44 dividend on an annualized basis and a yield of 2.66%. Marathon Petroleum Corporation’s payout ratio is 63.44%.
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Several research firms recently commented on MPC. Scotiabank set a $54.00 price target on shares of Marathon Petroleum Corporation and gave the company a “hold” rating in a research report on Monday, March 27th. Piper Jaffray Companies restated an “overweight” rating and set a $62.00 price target on shares of Marathon Petroleum Corporation in a research report on Thursday, May 25th. Royal Bank Of Canada restated a “buy” rating and set a $69.00 price target on shares of Marathon Petroleum Corporation in a research report on Thursday, June 1st. BidaskClub upgraded shares of Marathon Petroleum Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Finally, Citigroup Inc. restated a “buy” rating and set a $67.00 price target (down previously from $68.50) on shares of Marathon Petroleum Corporation in a research report on Saturday, April 22nd. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $58.58.
In related news, insider Thomas M. Kelley sold 25,000 shares of the stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $54.33, for a total value of $1,358,250.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP C. Michael Palmer sold 4,000 shares of the stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $53.25, for a total transaction of $213,000.00. Following the completion of the sale, the vice president now directly owns 61,757 shares in the company, valued at $3,288,560.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,568 shares of company stock worth $1,808,969. 1.05% of the stock is owned by corporate insiders.
Marathon Petroleum Corporation Company Profile
Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.
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