Glen Harbor Capital Management LLC grew its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 124.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 310,976 shares of the oil and gas company’s stock after purchasing an additional 172,608 shares during the quarter. Glen Harbor Capital Management LLC’s holdings in Marathon Petroleum were worth $22,735,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Municipal Employees Retirement System of Michigan grew its holdings in shares of Marathon Petroleum by 35.8% during the fourth quarter. Municipal Employees Retirement System of Michigan now owns 24,820 shares of the oil and gas company’s stock worth $1,638,000 after purchasing an additional 6,540 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Marathon Petroleum by 3.2% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 975,944 shares of the oil and gas company’s stock worth $64,392,000 after purchasing an additional 30,353 shares during the last quarter. Globeflex Capital L P purchased a new position in shares of Marathon Petroleum during the fourth quarter worth about $987,000. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Marathon Petroleum during the fourth quarter worth about $37,234,000. Finally, Financial Gravity Companies Inc. purchased a new position in shares of Marathon Petroleum during the fourth quarter worth about $359,000. 79.87% of the stock is currently owned by institutional investors.
Shares of NYSE:MPC opened at $79.53 on Monday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.73 and a quick ratio of 1.12. The stock has a market capitalization of $36.73 billion, a P/E ratio of 20.24, a PEG ratio of 1.21 and a beta of 1.36. Marathon Petroleum Co. has a 52 week low of $49.30 and a 52 week high of $83.27.
Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, May 1st. The oil and gas company reported $0.08 EPS for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.07). The firm had revenue of $18.98 billion during the quarter, compared to analyst estimates of $21.78 billion. Marathon Petroleum had a net margin of 4.45% and a return on equity of 10.05%. Marathon Petroleum’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.06 EPS. sell-side analysts anticipate that Marathon Petroleum Co. will post 4.63 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 11th. Investors of record on Wednesday, May 16th will be given a $0.46 dividend. The ex-dividend date of this dividend is Tuesday, May 15th. This represents a $1.84 dividend on an annualized basis and a yield of 2.31%. Marathon Petroleum’s payout ratio is currently 48.42%.
Several equities analysts have issued reports on the company. Cowen reaffirmed an “outperform” rating and set a $90.00 price objective (up previously from $76.00) on shares of Marathon Petroleum in a report on Thursday, February 1st. Citigroup raised their price target on Marathon Petroleum from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, March 13th. Wells Fargo reissued a “market perform” rating and set a $66.00 price target (down previously from $72.00) on shares of Marathon Petroleum in a report on Thursday, March 15th. They noted that the move was a valuation call. Royal Bank of Canada reissued a “buy” rating and set a $89.00 price target on shares of Marathon Petroleum in a report on Tuesday, January 30th. Finally, JPMorgan Chase lowered their price target on Marathon Petroleum from $90.00 to $86.00 and set an “overweight” rating on the stock in a report on Monday, April 9th. Six analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $83.63.
In related news, insider Thomas M. Kelley sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $69.77, for a total value of $1,395,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles E. Bunch acquired 1,500 shares of Marathon Petroleum stock in a transaction that occurred on Tuesday, March 6th. The stock was purchased at an average price of $67.38 per share, with a total value of $101,070.00. Following the transaction, the director now owns 12,853 shares of the company’s stock, valued at $866,035.14. The disclosure for this purchase can be found here. 1.09% of the stock is owned by company insiders.
Marathon Petroleum Profile
Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.
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