Tocqueville Asset Management L.P. lowered its stake in Marathon Petroleum Corp (NYSE:MPC) by 2.8% in the third quarter, Holdings Channel reports. The institutional investor owned 235,641 shares of the oil and gas company’s stock after selling 6,885 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Marathon Petroleum were worth $18,844,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in MPC. Rational Advisors LLC increased its stake in shares of Marathon Petroleum by 282.4% in the third quarter. Rational Advisors LLC now owns 1,480 shares of the oil and gas company’s stock worth $118,000 after purchasing an additional 1,093 shares during the period. NEXT Financial Group Inc bought a new position in shares of Marathon Petroleum in the third quarter worth about $124,000. Columbia Asset Management bought a new position in shares of Marathon Petroleum in the third quarter worth about $156,000. Almanack Investment Partners LLC. bought a new position in shares of Marathon Petroleum in the third quarter worth about $166,000. Finally, Moneta Group Investment Advisors LLC increased its stake in shares of Marathon Petroleum by 1,267.0% in the second quarter. Moneta Group Investment Advisors LLC now owns 15,816 shares of the oil and gas company’s stock worth $173,000 after purchasing an additional 14,659 shares during the period. 83.16% of the stock is owned by institutional investors.
A number of equities analysts have recently commented on MPC shares. Zacks Investment Research lowered Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Tuesday, September 11th. Citigroup lifted their price objective on Marathon Petroleum from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, October 16th. Goldman Sachs Group assumed coverage on Marathon Petroleum in a research note on Tuesday, October 2nd. They set a “conviction-buy” rating on the stock. Tudor Pickering upgraded Marathon Petroleum from a “hold” rating to a “buy” rating in a research note on Thursday, October 11th. Finally, Barclays assumed coverage on Marathon Petroleum in a research note on Wednesday, October 3rd. They set an “overweight” rating and a $125.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Marathon Petroleum presently has an average rating of “Buy” and a consensus price target of $92.93.
NYSE MPC opened at $62.48 on Thursday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.09 and a current ratio of 1.65. The company has a market cap of $43.76 billion, a price-to-earnings ratio of 16.44, a P/E/G ratio of 0.87 and a beta of 1.43. Marathon Petroleum Corp has a 1-year low of $60.64 and a 1-year high of $88.45.
Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Thursday, November 1st. The oil and gas company reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.02. The company had revenue of $23.13 billion for the quarter, compared to the consensus estimate of $23.20 billion. Marathon Petroleum had a return on equity of 12.28% and a net margin of 4.48%. The company’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.77 earnings per share. On average, sell-side analysts predict that Marathon Petroleum Corp will post 5.12 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Wednesday, November 21st will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend is Tuesday, November 20th. Marathon Petroleum’s payout ratio is 48.42%.
In other Marathon Petroleum news, Director Steven A. Davis bought 2,500 shares of Marathon Petroleum stock in a transaction dated Monday, November 19th. The shares were acquired at an average cost of $62.20 per share, with a total value of $155,500.00. Following the acquisition, the director now directly owns 16,462 shares of the company’s stock, valued at $1,023,936.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.09% of the stock is currently owned by insiders.
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About Marathon Petroleum
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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