Weiss Multi Strategy Advisers LLC bought a new position in Marathon Petroleum Corp (NYSE:MPC) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 32,218 shares of the oil and gas company’s stock, valued at approximately $1,901,000.
Several other large investors have also added to or reduced their stakes in the company. Hanson McClain Inc. purchased a new stake in Marathon Petroleum in the 4th quarter worth approximately $25,000. Certified Advisory Corp grew its holdings in shares of Marathon Petroleum by 71.2% during the fourth quarter. Certified Advisory Corp now owns 476 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 198 shares during the last quarter. SeaBridge Investment Advisors LLC bought a new position in shares of Marathon Petroleum during the fourth quarter valued at approximately $30,000. Claybrook Capital LLC bought a new position in shares of Marathon Petroleum during the fourth quarter valued at approximately $30,000. Finally, Kistler Tiffany Companies LLC bought a new position in shares of Marathon Petroleum during the fourth quarter valued at approximately $30,000. 77.87% of the stock is currently owned by hedge funds and other institutional investors.
In other Marathon Petroleum news, CEO Gary R. Heminger sold 187,142 shares of the company’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $65.00, for a total value of $12,164,230.00. Following the completion of the sale, the chief executive officer now directly owns 434,166 shares in the company, valued at $28,220,790. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.09% of the company’s stock.
Several equities analysts have recently commented on MPC shares. Cowen reaffirmed an “outperform” rating and set a $101.00 target price (up from $87.00) on shares of Marathon Petroleum in a report on Thursday, December 6th. They noted that the move was a valuation call. Citigroup lowered their target price on Marathon Petroleum from $104.00 to $95.00 and set a “buy” rating for the company in a report on Thursday, December 6th. Macquarie started coverage on Marathon Petroleum in a report on Tuesday, February 5th. They set an “outperform” rating and a $67.18 target price for the company. Piper Jaffray Companies reaffirmed an “overweight” rating on shares of Marathon Petroleum in a report on Thursday, January 10th. Finally, ValuEngine raised Marathon Petroleum from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $92.85.
MPC traded down $0.73 during trading on Wednesday, reaching $61.31. The stock had a trading volume of 1,055,530 shares, compared to its average volume of 6,213,929. The company has a market capitalization of $41.82 billion, a price-to-earnings ratio of 9.04, a price-to-earnings-growth ratio of 0.66 and a beta of 1.38. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.36 and a quick ratio of 0.62. Marathon Petroleum Corp has a 1-year low of $54.29 and a 1-year high of $88.45.
Marathon Petroleum (NYSE:MPC) last released its earnings results on Thursday, February 7th. The oil and gas company reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.43. The firm had revenue of $32.54 billion during the quarter, compared to the consensus estimate of $34.16 billion. Marathon Petroleum had a return on equity of 14.14% and a net margin of 2.86%. The firm’s revenue for the quarter was up 53.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.05 earnings per share. Equities analysts expect that Marathon Petroleum Corp will post 6.26 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Wednesday, February 20th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 3.46%. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.46. The ex-dividend date was Tuesday, February 19th. Marathon Petroleum’s dividend payout ratio is 31.27%.
WARNING: “Weiss Multi Strategy Advisers LLC Buys Shares of 32,218 Marathon Petroleum Corp (MPC)” was originally published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this piece on another website, it was copied illegally and republished in violation of international trademark and copyright legislation. The original version of this piece can be viewed at https://www.dispatchtribunal.com/2019/03/20/weiss-multi-strategy-advisers-llc-buys-shares-of-32218-marathon-petroleum-corp-mpc.html.
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.
Featured Article: Buy-Side Analysts
Want to see what other hedge funds are holding MPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Petroleum Corp (NYSE:MPC).
Receive News & Ratings for Marathon Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marathon Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.