Commerzbank Aktiengesellschaft FI grew its position in Marathon Petroleum Corp (NYSE:MPC) by 12.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 125,534 shares of the oil and gas company’s stock after purchasing an additional 13,504 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Marathon Petroleum were worth $7,626,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Wealthcare Advisory Partners LLC lifted its position in Marathon Petroleum by 345.6% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 508 shares of the oil and gas company’s stock worth $28,000 after buying an additional 394 shares in the last quarter. Old North State Trust LLC raised its holdings in Marathon Petroleum by 209.1% during the 3rd quarter. Old North State Trust LLC now owns 476 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 322 shares during the last quarter. Tarbox Family Office Inc. raised its holdings in Marathon Petroleum by 51.5% during the 2nd quarter. Tarbox Family Office Inc. now owns 568 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 193 shares during the last quarter. Next Capital Management LLC bought a new stake in Marathon Petroleum during the 2nd quarter worth about $35,000. Finally, NuWave Investment Management LLC raised its holdings in Marathon Petroleum by 130.9% during the 2nd quarter. NuWave Investment Management LLC now owns 806 shares of the oil and gas company’s stock worth $45,000 after purchasing an additional 457 shares during the last quarter. Institutional investors own 76.62% of the company’s stock.
Several analysts have weighed in on the company. Cfra cut Marathon Petroleum from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Jefferies Financial Group initiated coverage on Marathon Petroleum in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $75.00 price target for the company. Citigroup upped their price target on Marathon Petroleum from $60.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. lowered their price target on Marathon Petroleum from $74.00 to $62.00 and set an “overweight” rating for the company in a research note on Tuesday, September 10th. Finally, Raymond James upped their price target on Marathon Petroleum from $72.00 to $75.00 and gave the company a “strong-buy” rating in a research note on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Marathon Petroleum currently has an average rating of “Buy” and an average target price of $73.38.
Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Thursday, October 31st. The oil and gas company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.30 by $0.33. The company had revenue of $31.20 billion during the quarter, compared to the consensus estimate of $32.89 billion. Marathon Petroleum had a return on equity of 8.94% and a net margin of 2.50%. The firm’s revenue for the quarter was up 34.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.70 EPS. Equities research analysts anticipate that Marathon Petroleum Corp will post 4.21 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 3.20%. The ex-dividend date is Tuesday, November 19th. Marathon Petroleum’s payout ratio is presently 31.27%.
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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