HBK Investments L P lifted its holdings in Marathon Petroleum Corp (NYSE:MPC) by 68.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 460,730 shares of the oil and gas company’s stock after purchasing an additional 187,205 shares during the period. Marathon Petroleum accounts for approximately 0.3% of HBK Investments L P’s portfolio, making the stock its 26th biggest holding. HBK Investments L P owned 0.09% of Marathon Petroleum worth $30,399,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the company. Two Sigma Advisers LP increased its stake in shares of Marathon Petroleum by 892.7% in the fourth quarter. Two Sigma Advisers LP now owns 1,726,811 shares of the oil and gas company’s stock worth $113,935,000 after purchasing an additional 1,552,853 shares during the period. Stone Ridge Asset Management LLC bought a new position in Marathon Petroleum during the fourth quarter valued at about $333,000. Deutsche Bank AG increased its stake in Marathon Petroleum by 28.1% during the fourth quarter. Deutsche Bank AG now owns 4,208,375 shares of the oil and gas company’s stock valued at $277,664,000 after acquiring an additional 923,646 shares during the period. Clearbridge Investments LLC increased its stake in Marathon Petroleum by 27.9% during the fourth quarter. Clearbridge Investments LLC now owns 4,158 shares of the oil and gas company’s stock valued at $274,000 after acquiring an additional 908 shares during the period. Finally, Brandywine Global Investment Management LLC increased its stake in Marathon Petroleum by 21.4% during the fourth quarter. Brandywine Global Investment Management LLC now owns 559,907 shares of the oil and gas company’s stock valued at $36,943,000 after acquiring an additional 98,798 shares during the period. Institutional investors and hedge funds own 80.38% of the company’s stock.
MPC has been the topic of several research reports. Barclays boosted their price target on Marathon Petroleum from $63.00 to $76.00 and gave the company an “overweight” rating in a research note on Tuesday, November 14th. Royal Bank of Canada restated a “buy” rating and set a $89.00 price target on shares of Marathon Petroleum in a research note on Tuesday, January 30th. Credit Suisse Group initiated coverage on Marathon Petroleum in a research note on Wednesday, January 3rd. They set an “outperform” rating and a $83.00 price target on the stock. UBS Group lowered Marathon Petroleum from a “buy” rating to a “neutral” rating and boosted their price target for the company from $63.00 to $65.00 in a research note on Sunday, November 26th. Finally, Cowen boosted their price target on Marathon Petroleum from $60.00 to $79.00 and gave the company an “outperform” rating in a research note on Tuesday, November 14th. They noted that the move was a valuation call. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. Marathon Petroleum presently has an average rating of “Buy” and an average price target of $78.08.
Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Thursday, February 1st. The oil and gas company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.05. The company had revenue of $21.24 billion for the quarter, compared to the consensus estimate of $17.27 billion. Marathon Petroleum had a return on equity of 9.90% and a net margin of 4.60%. The company’s quarterly revenue was up 22.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.43 earnings per share. equities research analysts predict that Marathon Petroleum Corp will post 4.91 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Wednesday, February 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 2.62%. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.40. The ex-dividend date is Tuesday, February 20th. Marathon Petroleum’s payout ratio is presently 26.59%.
In other Marathon Petroleum news, insider Thomas M. Kelley sold 35,604 shares of Marathon Petroleum stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $64.75, for a total transaction of $2,305,359.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Rodney P. Nichols sold 6,374 shares of Marathon Petroleum stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $64.93, for a total value of $413,863.82. Following the sale, the vice president now directly owns 74,674 shares in the company, valued at $4,848,582.82. The disclosure for this sale can be found here. Insiders have sold 59,276 shares of company stock worth $3,835,809 over the last ninety days. Company insiders own 1.05% of the company’s stock.
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Marathon Petroleum Company 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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