Marshall Wace North America L.P. increased its position in shares of Marathon Petroleum Corp (NYSE:MPC) by 530.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 658,085 shares of the oil and gas company’s stock after acquiring an additional 553,731 shares during the period. Marshall Wace North America L.P.’s holdings in Marathon Petroleum were worth $39,388,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Kwmg LLC grew its position in Marathon Petroleum by 14.9% during the 4th quarter. Kwmg LLC now owns 32,755 shares of the oil and gas company’s stock worth $1,933,000 after acquiring an additional 4,259 shares during the last quarter. Barings LLC grew its position in Marathon Petroleum by 30.5% during the 4th quarter. Barings LLC now owns 51,550 shares of the oil and gas company’s stock worth $3,042,000 after acquiring an additional 12,050 shares during the last quarter. Investec Asset Management LTD grew its position in Marathon Petroleum by 452.8% during the 4th quarter. Investec Asset Management LTD now owns 492,095 shares of the oil and gas company’s stock worth $29,039,000 after acquiring an additional 403,079 shares during the last quarter. Fulcrum Equity Management bought a new stake in Marathon Petroleum during the 4th quarter worth $338,000. Finally, Toronto Dominion Bank grew its position in Marathon Petroleum by 108.3% during the 1st quarter. Toronto Dominion Bank now owns 819,141 shares of the oil and gas company’s stock worth $49,019,000 after acquiring an additional 425,808 shares during the last quarter. Institutional investors and hedge funds own 77.44% of the company’s stock.
In other Marathon Petroleum news, Director James E. Rohr bought 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The shares were bought at an average price of $48.14 per share, for a total transaction of $601,750.00. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, insider Donald C. Templin bought 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were acquired at an average price of $50.74 per share, for a total transaction of $253,700.00. Following the transaction, the insider now owns 93,182 shares in the company, valued at $4,728,054.68. The disclosure for this purchase can be found here. Insiders own 1.06% of the company’s stock.
NYSE MPC opened at $47.96 on Monday. Marathon Petroleum Corp has a 12 month low of $45.47 and a 12 month high of $88.45. The stock has a market capitalization of $31.78 billion, a price-to-earnings ratio of 7.62, a P/E/G ratio of 1.16 and a beta of 1.52. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.55 and a current ratio of 1.20.
Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Wednesday, May 8th. The oil and gas company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.10). Marathon Petroleum had a net margin of 2.56% and a return on equity of 11.10%. The company had revenue of $28.62 billion during the quarter, compared to the consensus estimate of $27.70 billion. During the same quarter last year, the firm posted $0.08 EPS. The company’s quarterly revenue was up 50.7% on a year-over-year basis. Equities research analysts expect that Marathon Petroleum Corp will post 4.67 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Thursday, May 16th were given a $0.53 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.42%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 31.27%.
MPC has been the topic of a number of research reports. Citigroup reduced their price objective on Marathon Petroleum from $91.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, March 4th. Credit Suisse Group reduced their price objective on Marathon Petroleum from $95.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, May 13th. Cowen restated an “outperform” rating and set a $90.00 price objective (down previously from $101.00) on shares of Marathon Petroleum in a research report on Monday, May 6th. Morgan Stanley reduced their price objective on Marathon Petroleum from $82.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, May 17th. Finally, Wells Fargo & Co reduced their price target on Marathon Petroleum from $96.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $85.68.
WARNING: “Marathon Petroleum Corp (NYSE:MPC) Shares Bought by Marshall Wace North America L.P.” was first reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this report on another domain, it was illegally copied and reposted in violation of international trademark and copyright laws. The correct version of this report can be read at https://www.dispatchtribunal.com/2019/06/17/marathon-petroleum-corp-nysempc-shares-bought-by-marshall-wace-north-america-l-p.html.
Marathon Petroleum Company Profile
Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing; Retail; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals and trucks that the company owns or operates.
Featured Article: Sell-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.