Resources Management Corp CT ADV Purchases New Position in Marathon Petroleum Corp (NYSE:MPC)

Resources Management Corp CT ADV acquired a new position in shares of Marathon Petroleum Corp (NYSE:MPC) during the 3rd quarter, Holdings Channel reports. The fund acquired 1,583 shares of the oil and gas company’s stock, valued at approximately $96,000.

A number of other institutional investors have also recently added to or reduced their stakes in MPC. Venturi Wealth Management LLC bought a new position in shares of Marathon Petroleum during the third quarter worth $25,000. Wealthcare Advisory Partners LLC increased its position in shares of Marathon Petroleum by 345.6% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 508 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 394 shares in the last quarter. Old North State Trust LLC increased its position in shares of Marathon Petroleum by 209.1% in the 3rd quarter. Old North State Trust LLC now owns 476 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 322 shares in the last quarter. Endurance Wealth Management Inc. raised its stake in Marathon Petroleum by 365.4% during the 3rd quarter. Endurance Wealth Management Inc. now owns 484 shares of the oil and gas company’s stock worth $29,000 after buying an additional 380 shares during the period. Finally, Mechanics Bank Trust Department acquired a new stake in Marathon Petroleum during the 3rd quarter worth $29,000. 75.26% of the stock is currently owned by institutional investors and hedge funds.

MPC opened at $60.20 on Friday. The stock has a market capitalization of $39.09 billion, a P/E ratio of 8.88, a P/E/G ratio of 1.40 and a beta of 1.68. The company has a current ratio of 1.25, a quick ratio of 0.62 and a debt-to-equity ratio of 0.71. Marathon Petroleum Corp has a 12 month low of $43.96 and a 12 month high of $69.65. The firm’s fifty day simple moving average is $64.24 and its 200 day simple moving average is $55.73.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Thursday, October 31st. The oil and gas company reported $1.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.33. Marathon Petroleum had a return on equity of 8.94% and a net margin of 2.50%. The firm had revenue of $31.20 billion during the quarter, compared to analysts’ expectations of $32.89 billion. During the same quarter in the prior year, the company earned $1.70 EPS. The company’s revenue was up 34.9% on a year-over-year basis. On average, equities research analysts predict that Marathon Petroleum Corp will post 4.35 EPS for the current fiscal year.

The company also recently declared 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. The ex-dividend date is Tuesday, November 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.52%. Marathon Petroleum’s dividend payout ratio (DPR) is 31.27%.

Several research analysts have weighed in on MPC shares. Mizuho set a $90.00 target price on Marathon Petroleum and gave the stock a “buy” rating in a report on Thursday, September 26th. Morgan Stanley increased their price target on Marathon Petroleum from $70.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Jefferies Financial Group began coverage on Marathon Petroleum in a research report on Tuesday, September 3rd. They set a “buy” rating and a $75.00 price target on the stock. Cfra cut Marathon Petroleum from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Cowen lifted their price objective on Marathon Petroleum from $57.00 to $60.00 and gave the company a “market perform” rating in a report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $73.38.

Marathon Petroleum Company Profile

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

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