First Republic Investment Management Inc. boosted its stake in shares of Marathon Petroleum Corp (NYSE:MPC) by 4.2% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 242,571 shares of the oil and gas company’s stock after acquiring an additional 9,812 shares during the period. First Republic Investment Management Inc.’s holdings in Marathon Petroleum were worth $19,398,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of MPC. Rational Advisors LLC raised its position in Marathon Petroleum by 282.4% during the third quarter. Rational Advisors LLC now owns 1,480 shares of the oil and gas company’s stock worth $118,000 after acquiring an additional 1,093 shares during the period. NEXT Financial Group Inc acquired a new position in Marathon Petroleum during the third quarter worth $124,000. Columbia Asset Management acquired a new position in Marathon Petroleum during the third quarter worth $156,000. Almanack Investment Partners LLC. acquired a new position in Marathon Petroleum during the third quarter worth $166,000. Finally, Moneta Group Investment Advisors LLC raised its position in Marathon Petroleum by 1,267.0% during the second quarter. Moneta Group Investment Advisors LLC now owns 15,816 shares of the oil and gas company’s stock worth $173,000 after acquiring an additional 14,659 shares during the period. Institutional investors own 83.16% of the company’s stock.
Marathon Petroleum stock opened at $61.56 on Friday. Marathon Petroleum Corp has a 52-week low of $60.64 and a 52-week high of $88.45. The firm has a market cap of $43.90 billion, a PE ratio of 12.46, a price-to-earnings-growth ratio of 0.78 and a beta of 1.43. The company has a quick ratio of 1.09, a current ratio of 1.65 and a debt-to-equity ratio of 0.97.
Marathon Petroleum (NYSE:MPC) last released its earnings results on Thursday, November 1st. The oil and gas company reported $1.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.68 by $0.02. Marathon Petroleum had a net margin of 4.48% and a return on equity of 12.28%. The business had revenue of $23.13 billion during the quarter, compared to analyst estimates of $23.20 billion. During the same quarter in the prior year, the firm earned $1.77 earnings per share. The company’s revenue for the quarter was up 19.3% compared to the same quarter last year. Equities research analysts anticipate that Marathon Petroleum Corp will post 5.14 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Wednesday, November 21st will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend is Tuesday, November 20th. Marathon Petroleum’s dividend payout ratio is currently 48.42%.
In other news, Director Steven A. Davis acquired 2,500 shares of the company’s stock in a transaction that occurred on Monday, November 19th. The stock was purchased at an average price of $62.20 per share, with a total value of $155,500.00. Following the completion of the acquisition, the director now owns 16,462 shares of the company’s stock, valued at approximately $1,023,936.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.09% of the company’s stock.
A number of research firms have weighed in on MPC. Citigroup upped their price objective on shares of Marathon Petroleum from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, September 7th. Tudor Pickering upgraded shares of Marathon Petroleum from a “hold” rating to a “buy” rating in a research report on Thursday, October 11th. Morgan Stanley set a $110.00 target price on shares of Marathon Petroleum and gave the stock a “buy” rating in a report on Friday, October 12th. Zacks Investment Research lowered shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a report on Tuesday, September 11th. Finally, Cowen dropped their target price on shares of Marathon Petroleum from $111.00 to $97.00 and set an “outperform” rating for the company in a report on Wednesday, November 28th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $92.93.
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Marathon Petroleum Profile
Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.
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