Freestone Capital Holdings LLC Boosts Stake in Marathon Petroleum Corporation (MPC)

Freestone Capital Holdings LLC raised its stake in Marathon Petroleum Corporation (NYSE:MPC) by 0.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,051 shares of the oil and gas company’s stock after acquiring an additional 1 shares during the quarter. Freestone Capital Holdings LLC’s holdings in Marathon Petroleum Corporation were worth $526,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Guardian Life Insurance Co. of America lifted its holdings in shares of Marathon Petroleum Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,036 shares of the oil and gas company’s stock worth $103,000 after acquiring an additional 14 shares during the last quarter. Accurate Investment Solutions Inc. lifted its holdings in shares of Marathon Petroleum Corporation by 0.4% in the second quarter. Accurate Investment Solutions Inc. now owns 3,982 shares of the oil and gas company’s stock worth $208,000 after acquiring an additional 14 shares during the last quarter. Capital Investment Advisors LLC lifted its holdings in shares of Marathon Petroleum Corporation by 0.3% in the second quarter. Capital Investment Advisors LLC now owns 6,420 shares of the oil and gas company’s stock worth $336,000 after acquiring an additional 19 shares during the last quarter. Good Life Advisors LLC lifted its holdings in shares of Marathon Petroleum Corporation by 0.5% in the second quarter. Good Life Advisors LLC now owns 6,708 shares of the oil and gas company’s stock worth $363,000 after acquiring an additional 35 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of Marathon Petroleum Corporation by 0.6% in the second quarter. Parallel Advisors LLC now owns 6,339 shares of the oil and gas company’s stock worth $355,000 after acquiring an additional 36 shares during the last quarter. 78.85% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have recently commented on MPC. Cowen and Company increased their target price on shares of Marathon Petroleum Corporation from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. Scotiabank set a $55.00 target price on shares of Marathon Petroleum Corporation and gave the stock a “hold” rating in a report on Tuesday, July 11th. BidaskClub raised shares of Marathon Petroleum Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Zacks Investment Research cut shares of Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 17th. Finally, Piper Jaffray Companies reissued an “overweight” rating and issued a $62.00 target price on shares of Marathon Petroleum Corporation in a report on Thursday, May 25th. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $59.16.

Marathon Petroleum Corporation (MPC) opened at 53.42 on Friday. Marathon Petroleum Corporation has a 12-month low of $39.29 and a 12-month high of $56.81. The company has a market cap of $27.04 billion, a price-to-earnings ratio of 31.85 and a beta of 1.56. The firm’s 50-day moving average is $53.18 and its 200 day moving average is $51.96.

Marathon Petroleum Corporation (NYSE:MPC) last announced its earnings results on Thursday, July 27th. The oil and gas company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by $0.01. The business had revenue of $18.35 billion for the quarter, compared to the consensus estimate of $19.98 billion. Marathon Petroleum Corporation had a net margin of 1.34% and a return on equity of 5.52%. Marathon Petroleum Corporation’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.07 EPS. On average, equities analysts expect that Marathon Petroleum Corporation will post $2.83 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Wednesday, August 16th will be issued a $0.40 dividend. This is an increase from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. The ex-dividend date is Monday, August 14th. This represents a $1.60 dividend on an annualized basis and a yield of 3.00%. Marathon Petroleum Corporation’s dividend payout ratio is 90.91%.

In other news, insider Thomas M. Kelley sold 25,000 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $54.33, for a total value of $1,358,250.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.05% of the stock is currently owned by corporate insiders.

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About Marathon Petroleum Corporation

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.

Institutional Ownership by Quarter for Marathon Petroleum Corporation (NYSE:MPC)

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