Rhumbline Advisers decreased its position in Marathon Petroleum Corp (NYSE:MPC) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 905,962 shares of the oil and gas company’s stock after selling 14,209 shares during the quarter. Rhumbline Advisers’ holdings in Marathon Petroleum were worth $59,775,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. raised its position in shares of Marathon Petroleum by 3.2% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 975,944 shares of the oil and gas company’s stock valued at $64,392,000 after purchasing an additional 30,353 shares during the period. Arizona State Retirement System raised its position in shares of Marathon Petroleum by 2.6% in the fourth quarter. Arizona State Retirement System now owns 189,700 shares of the oil and gas company’s stock valued at $12,516,000 after purchasing an additional 4,776 shares during the period. Eagle Asset Management Inc. bought a new position in shares of Marathon Petroleum in the fourth quarter valued at approximately $1,274,000. Trexquant Investment LP raised its position in shares of Marathon Petroleum by 108.6% in the fourth quarter. Trexquant Investment LP now owns 67,527 shares of the oil and gas company’s stock valued at $4,455,000 after purchasing an additional 35,148 shares during the period. Finally, Pinebridge Investments L.P. grew its stake in shares of Marathon Petroleum by 97.1% in the fourth quarter. Pinebridge Investments L.P. now owns 58,163 shares of the oil and gas company’s stock worth $3,837,000 after acquiring an additional 28,657 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.
In other Marathon Petroleum news, VP Rodney P. Nichols sold 6,374 shares of Marathon Petroleum stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $64.93, for a total transaction of $413,863.82. Following the sale, the vice president now owns 74,674 shares in the company, valued at $4,848,582.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas M. Kelley sold 35,604 shares of Marathon Petroleum stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $64.75, for a total transaction of $2,305,359.00. The disclosure for this sale can be found here. Insiders have sold 59,276 shares of company stock worth $3,835,809 in the last quarter. Corporate insiders own 1.05% of the company’s stock.
Shares of Marathon Petroleum Corp (MPC) opened at $67.93 on Friday. Marathon Petroleum Corp has a 52 week low of $47.78 and a 52 week high of $73.53. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.80 and a current ratio of 1.52. The firm has a market cap of $33,013.98, a price-to-earnings ratio of 9.82, a price-to-earnings-growth ratio of 0.95 and a beta of 1.49.
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 Zacks’ consensus estimate of $1.00 by $0.05. Marathon Petroleum had a net margin of 4.60% and a return on equity of 10.04%. The firm had revenue of $21.24 billion for the quarter, compared to the consensus estimate of $17.27 billion. During the same quarter in the previous year, the company earned $0.43 earnings per share. The business’s revenue was up 22.9% compared to the same quarter last year. equities analysts forecast that Marathon Petroleum Corp will post 5.05 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Wednesday, February 21st will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $1.84 dividend on an annualized basis and a yield of 2.71%. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.40. Marathon Petroleum’s payout ratio is currently 23.12%.
MPC has been the topic of several research analyst reports. Barclays raised their price objective on shares of Marathon Petroleum from $63.00 to $76.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 14th. Credit Suisse Group initiated coverage on shares of Marathon Petroleum in a research note on Wednesday, January 3rd. They issued an “outperform” rating and a $83.00 price objective on the stock. Royal Bank of Canada restated a “buy” rating and issued a $89.00 price objective on shares of Marathon Petroleum in a research note on Tuesday, January 30th. UBS Group downgraded shares of Marathon Petroleum from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $63.00 to $65.00 in a research note on Sunday, November 26th. Finally, Zacks Investment Research upgraded shares of Marathon Petroleum from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research note on Friday, November 10th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. Marathon Petroleum currently has an average rating of “Buy” and a consensus target price of $75.25.
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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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