Cornerstone Financial Partners buys $2,678,311 stake in Marathon Petroleum Corp (MPC)

Marathon Petroleum Corp (MPC) : Cornerstone Financial Partners scooped up 13,807 additional shares in Marathon Petroleum Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 3, 2016. The investment management firm now holds a total of 64,976 shares of Marathon Petroleum Corp which is valued at $2,678,311.Marathon Petroleum Corp makes up approximately 0.93% of Cornerstone Financial Partners’s portfolio.

Other Hedge Funds, Including , Foster Motley Inc reduced its stake in MPC by selling 33,087 shares or 27.84% in the most recent quarter. The Hedge Fund company now holds 85,756 shares of MPC which is valued at $3,534,862. Marathon Petroleum Corp makes up approx 0.68% of Foster Motley Inc’s portfolio.Capital Fund Management S.a. reduced its stake in MPC by selling 688,799 shares or 85.83% in the most recent quarter. The Hedge Fund company now holds 113,679 shares of MPC which is valued at $4,300,477. Marathon Petroleum Corp makes up approx 0.07% of Capital Fund Management S.a.’s portfolio.

Marathon Petroleum Corp opened for trading at $42.24 and hit $42.59 on the upside on Monday, eventually ending the session at $41.93, with a gain of 0.05% or 0.02 points. The heightened volatility saw the trading volume jump to 54,19,360 shares. Company has a market cap of $22,171 M.

On the company’s financial health, Marathon Petroleum Corp reported $1.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.98. The company had revenue of $16790.00 million for the quarter, compared to analysts expectations of $14500.00 million. The company’s revenue was down -18.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.51 EPS.

Investors should note that on Jul 27, 2016, Marathon Petroleum Corp announced a cash dividend of $0.3600. The company’s management has announced Aug 15, 2016 as the ex-dividend date and fixed the record date on Aug 17, 2016. The payable date has been fixed on Sep 12, 2016.

Many Wall Street Analysts have commented on Marathon Petroleum Corp. Marathon Petroleum Corp was Downgraded by Scotia Howard Weil to ” Sector Perform” on Jul 11, 2016.

Marathon Petroleum Corporation (MPC) is engaged petroleum product refining marketing retail and transportation businesses. It has three segments: Refining & Marketing which refines crude oil and other feedstocks at its seven refineries in the Gulf Coast and Midwest regions of the United States purchases ethanol and refined products for resale and distributes refined products; Speedway which sells transportation fuels and convenience products in the retail market in the Midwest East Coast and Southeast and Pipeline Transportation which transports crude oil and other feedstocks to its refineries and other locations delivers refined products to wholesale and retail market areas and includes the aggregated operations of MPLX LP.

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