CGOV Asset Management lowered its stake in shares of Marathon Petroleum Corp (NYSE:MPC) by 14.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,000 shares of the oil and gas company’s stock after selling 2,000 shares during the quarter. CGOV Asset Management’s holdings in Marathon Petroleum were worth $991,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Crow Point Partners LLC acquired a new position in shares of Marathon Petroleum in the third quarter valued at $128,000. Kohmann Bosshard Financial Services LLC acquired a new position in Marathon Petroleum during the third quarter worth $135,000. YorkBridge Wealth Partners LLC raised its stake in Marathon Petroleum by 7.3% during the second quarter. YorkBridge Wealth Partners LLC now owns 2,937 shares of the oil and gas company’s stock worth $156,000 after acquiring an additional 200 shares in the last quarter. BB&T Investment Services Inc. grew its holdings in shares of Marathon Petroleum by 118.2% during the third quarter. BB&T Investment Services Inc. now owns 3,063 shares of the oil and gas company’s stock worth $178,000 after purchasing an additional 1,659 shares during the last quarter. Finally, Cable Hill Partners LLC grew its holdings in shares of Marathon Petroleum by 886.1% during the third quarter. Cable Hill Partners LLC now owns 3,254 shares of the oil and gas company’s stock worth $182,000 after purchasing an additional 2,924 shares during the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.
MPC has been the topic of several recent research reports. Citigroup raised their price target on Marathon Petroleum from $67.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, October 18th. Barclays raised their price target on Marathon Petroleum from $63.00 to $76.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 14th. Credit Suisse Group initiated coverage on Marathon Petroleum in a research report on Wednesday, January 3rd. They set an “outperform” rating and a $83.00 price target on the stock. UBS Group lowered Marathon Petroleum from a “buy” rating to a “neutral” rating and raised their price target for the stock from $63.00 to $65.00 in a research report on Sunday, November 26th. Finally, Cowen reaffirmed a “buy” rating and set a $60.00 price target on shares of Marathon Petroleum in a research report on Tuesday, October 17th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $73.58.
In other news, insider Anthony R. Kenney sold 77,578 shares of Marathon Petroleum stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $62.35, for a total transaction of $4,836,988.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Raymond L. Brooks sold 13,000 shares of the business’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $62.26, for a total value of $809,380.00. Following the completion of the sale, the vice president now owns 32,205 shares of the company’s stock, valued at $2,005,083.30. The disclosure for this sale can be found here. Insiders have sold a total of 149,854 shares of company stock valued at $9,482,177 over the last quarter. 1.05% of the stock is currently owned by corporate insiders.
Shares of Marathon Petroleum Corp (NYSE MPC) opened at $67.41 on Friday. Marathon Petroleum Corp has a 1 year low of $47.17 and a 1 year high of $73.53. The stock has a market capitalization of $32,920.00, a P/E ratio of 21.07, a P/E/G ratio of 1.00 and a beta of 1.50. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.52 and a quick ratio of 0.80.
Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Thursday, February 1st. The oil and gas company reported $1.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.05. Marathon Petroleum had a return on equity of 8.52% and a net margin of 2.35%. The firm had revenue of $21.24 billion for the quarter, compared to analyst estimates of $17.27 billion. During the same quarter in the previous year, the firm earned $0.43 EPS. The business’s quarterly revenue was up 22.9% on a year-over-year basis. equities analysts expect that Marathon Petroleum Corp will post 3.82 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Wednesday, February 21st will be paid a dividend of $0.46 per share. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.40. This represents a $1.84 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend is Tuesday, February 20th. Marathon Petroleum’s payout ratio is currently 50.00%.
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Marathon Petroleum 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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