RiverPark Advisors LLC lessened its stake in Marathon Petroleum Corp (NYSE:MPC) by 8.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,600 shares of the oil and gas company’s stock after selling 5,500 shares during the period. RiverPark Advisors LLC’s holdings in Marathon Petroleum were worth $3,932,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MPC. Victory Capital Management Inc. raised its holdings in shares of Marathon Petroleum by 38.1% in the third quarter. Victory Capital Management Inc. now owns 137,426 shares of the oil and gas company’s stock valued at $7,707,000 after buying an additional 37,936 shares during the last quarter. Global X MANAGEMENT CO LLC raised its holdings in shares of Marathon Petroleum by 273.7% in the third quarter. Global X MANAGEMENT CO LLC now owns 25,341 shares of the oil and gas company’s stock valued at $1,421,000 after buying an additional 18,559 shares during the last quarter. FDx Advisors Inc. raised its holdings in shares of Marathon Petroleum by 7.4% in the third quarter. FDx Advisors Inc. now owns 24,195 shares of the oil and gas company’s stock valued at $1,357,000 after buying an additional 1,662 shares during the last quarter. HL Financial Services LLC raised its holdings in shares of Marathon Petroleum by 12.9% in the third quarter. HL Financial Services LLC now owns 23,151 shares of the oil and gas company’s stock valued at $1,298,000 after buying an additional 2,653 shares during the last quarter. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new stake in shares of Marathon Petroleum in the third quarter valued at about $2,816,000. Institutional investors own 80.38% of the company’s stock.
In other Marathon Petroleum news, VP C. Michael Palmer sold 17,298 shares of the stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $64.55, for a total value of $1,116,585.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles E. Bunch bought 1,500 shares of the company’s stock in a transaction on Tuesday, March 6th. The stock was bought at an average cost of $67.38 per share, with a total value of $101,070.00. Following the completion of the acquisition, the director now owns 12,853 shares of the company’s stock, valued at approximately $866,035.14. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 59,276 shares of company stock valued at $3,835,809. 1.05% of the stock is currently owned by corporate insiders.
Marathon Petroleum (NYSE:MPC) last issued its earnings results on Thursday, February 1st. The oil and gas company reported $1.05 earnings per share (EPS) for the quarter, beating 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 9.90%. The company had revenue of $21.24 billion during the quarter, compared to analysts’ expectations of $17.27 billion. During the same period last year, the company posted $0.43 earnings per share. The firm’s quarterly revenue was up 22.9% compared to the same quarter last year. equities research analysts anticipate that Marathon Petroleum Corp will post 4.91 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Wednesday, February 21st will be issued a $0.46 dividend. The ex-dividend date is Tuesday, February 20th. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.40. This represents a $1.84 dividend on an annualized basis and a yield of 2.62%. Marathon Petroleum’s dividend payout ratio (DPR) is 26.59%.
A number of brokerages have recently commented on MPC. Zacks Investment Research raised shares of Marathon Petroleum from a “hold” rating to a “strong-buy” rating and set a $81.00 target price for the company in a report on Tuesday, January 16th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $89.00 target price on shares of Marathon Petroleum in a report on Tuesday, January 30th. Scotiabank reaffirmed a “hold” rating and issued a $75.00 target price on shares of Marathon Petroleum in a report on Wednesday, January 10th. Citigroup reaffirmed a “buy” rating and issued a $79.00 target price on shares of Marathon Petroleum in a report on Friday, February 2nd. Finally, ValuEngine raised shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a report on Friday, February 2nd. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $78.08.
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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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