Cushing Asset Management LP lowered its stake in shares of Marathon Petroleum Corp (NYSE:MPC) by 57.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 126,045 shares of the oil and gas company’s stock after selling 170,943 shares during the period. Cushing Asset Management LP’s holdings in Marathon Petroleum were worth $8,317,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MPC. Captrust Financial Advisors purchased a new position in shares of Marathon Petroleum during the 4th quarter valued at about $105,000. Truewealth LLC purchased a new position in shares of Marathon Petroleum during the 4th quarter valued at about $114,000. American Beacon Advisors Inc. purchased a new position in shares of Marathon Petroleum during the 4th quarter valued at about $116,000. Cerebellum GP LLC purchased a new position in shares of Marathon Petroleum during the 4th quarter valued at about $121,000. Finally, BB&T Investment Services Inc. raised its stake in shares of Marathon Petroleum by 118.2% during the 3rd quarter. BB&T Investment Services Inc. now owns 3,063 shares of the oil and gas company’s stock valued at $178,000 after buying an additional 1,659 shares during the last quarter. Institutional investors and hedge funds own 80.38% of the company’s stock.
Shares of Marathon Petroleum Corp (NYSE MPC) opened at $69.24 on Wednesday. The company has a quick ratio of 0.75, a current ratio of 1.28 and a debt-to-equity ratio of 0.59. Marathon Petroleum Corp has a twelve month low of $47.78 and a twelve month high of $73.53. The stock has a market capitalization of $32,976.66, a PE ratio of 10.01, a P/E/G ratio of 0.99 and a beta of 1.49.
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 12th. Investors of record on Wednesday, February 21st were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.66%. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.40. The ex-dividend date was Tuesday, February 20th. Marathon Petroleum’s payout ratio is presently 26.59%.
In related news, insider Thomas M. Kelley sold 35,604 shares of Marathon Petroleum stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $64.75, for a total value of $2,305,359.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Rodney P. Nichols sold 6,374 shares of Marathon Petroleum stock in a transaction dated Thursday, December 14th. The stock was 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 in the company, valued at $4,848,582.82. The disclosure for this sale can be found here. Insiders own 1.05% of the company’s stock.
MPC has been the topic of a number of analyst reports. Cowen restated a “buy” rating on shares of Marathon Petroleum in a research report on Tuesday, November 14th. Barclays raised their target price on Marathon Petroleum from $63.00 to $76.00 and gave the company an “overweight” rating in a research report on Tuesday, November 14th. UBS Group cut Marathon Petroleum from a “buy” rating to a “neutral” rating and raised their target price for the company from $63.00 to $65.00 in a research report on Wednesday, November 15th. Zacks Investment Research cut Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Wednesday, November 22nd. Finally, ValuEngine upgraded Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Six analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $79.08.
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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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