Cornerstone Capital Management Holdings LLC. lifted its stake in shares of Marathon Petroleum Corp (NYSE:MPC) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 830,071 shares of the oil and gas company’s stock after buying an additional 5,884 shares during the quarter. Cornerstone Capital Management Holdings LLC. owned approximately 0.17% of Marathon Petroleum worth $54,767,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Captrust Financial Advisors acquired a new position in shares of Marathon Petroleum during the fourth quarter worth about $105,000. Truewealth LLC acquired a new position in shares of Marathon Petroleum during the fourth quarter worth about $114,000. American Beacon Advisors Inc. acquired a new position in shares of Marathon Petroleum during the fourth quarter worth about $116,000. Cerebellum GP LLC acquired a new position in shares of Marathon Petroleum during the fourth quarter worth about $121,000. Finally, MHI Funds LLC acquired a new position in shares of Marathon Petroleum during the fourth quarter worth about $189,000. 80.38% of the stock is owned by institutional investors and hedge funds.
Shares of Marathon Petroleum Corp (NYSE:MPC) opened at $69.27 on Tuesday. The firm has a market capitalization of $32,980.00, a P/E ratio of 18.18, a P/E/G ratio of 1.01 and a beta of 1.51. Marathon Petroleum Corp has a 52 week low of $47.78 and a 52 week high of $73.53. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.75 and a current ratio of 1.28.
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 12th. Shareholders of record on Wednesday, February 21st were paid a $0.46 dividend. The ex-dividend date was Tuesday, February 20th. This represents a $1.84 dividend on an annualized basis and a yield of 2.66%. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.40. Marathon Petroleum’s payout ratio is currently 48.29%.
In other news, Director Charles E. Bunch acquired 1,500 shares of Marathon Petroleum stock in a transaction on Tuesday, March 6th. The stock was bought at an average price of $67.38 per share, for a total transaction of $101,070.00. Following the completion of the purchase, the director now owns 12,853 shares in the company, valued at $866,035.14. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Rodney P. Nichols sold 6,374 shares of the business’s 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 completion of the sale, the vice president now owns 74,674 shares of the company’s stock, valued at approximately $4,848,582.82. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by insiders.
A number of equities analysts have recently commented on MPC shares. Cowen reissued a “buy” rating on shares of Marathon Petroleum in a research report on Tuesday, November 14th. Barclays boosted their target price on Marathon Petroleum from $63.00 to $76.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 14th. UBS Group cut Marathon Petroleum from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $63.00 to $65.00 in a research note on Wednesday, November 15th. Zacks Investment Research cut Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Wednesday, November 22nd. Finally, ValuEngine upgraded Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. 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. The company currently has a consensus rating of “Buy” and a consensus price target of $78.08.
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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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