Evercore Wealth Management LLC decreased its position in Marathon Petroleum Corp (NYSE:MPC) by 9.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,936 shares of the oil and gas company’s stock after selling 2,190 shares during the period. Evercore Wealth Management LLC’s holdings in Marathon Petroleum were worth $1,594,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the stock. First Republic Investment Management Inc. lifted its stake in Marathon Petroleum by 4.2% in the third quarter. First Republic Investment Management Inc. now owns 242,571 shares of the oil and gas company’s stock valued at $19,398,000 after purchasing an additional 9,812 shares during the last quarter. Bailard Inc. lifted its stake in Marathon Petroleum by 2.1% in the third quarter. Bailard Inc. now owns 47,810 shares of the oil and gas company’s stock valued at $3,823,000 after purchasing an additional 1,005 shares during the last quarter. Highbridge Capital Management LLC purchased a new position in Marathon Petroleum in the third quarter valued at approximately $1,823,000. Renaissance Technologies LLC lifted its position in shares of Marathon Petroleum by 203.7% during the third quarter. Renaissance Technologies LLC now owns 937,300 shares of the oil and gas company’s stock worth $74,956,000 after acquiring an additional 628,700 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. purchased a new stake in shares of Marathon Petroleum during the third quarter worth $311,000. Institutional investors and hedge funds own 83.16% of the company’s stock.
NYSE:MPC opened at $61.56 on Friday. The firm has a market cap of $43.76 billion, a price-to-earnings ratio of 16.20, a P/E/G ratio of 0.86 and a beta of 1.43. Marathon Petroleum Corp has a 1 year low of $60.64 and a 1 year high of $88.45. The company has a current ratio of 1.65, a quick ratio of 1.09 and a debt-to-equity ratio of 0.97.
Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data 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 return on equity of 12.28% and a net margin of 4.48%. The company had revenue of $23.13 billion for the quarter, compared to the consensus estimate of $23.20 billion. During the same quarter last year, the business posted $1.77 earnings per share. The firm’s revenue was up 19.3% compared to the same quarter last year. On average, analysts predict that Marathon Petroleum Corp will post 5.14 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Wednesday, November 21st will be given a $0.46 dividend. The ex-dividend date is Tuesday, November 20th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.99%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 48.42%.
In other Marathon Petroleum news, Director Steven A. Davis acquired 2,500 shares of the stock in a transaction that occurred on Monday, November 19th. The shares were bought at an average price of $62.20 per share, for a total transaction of $155,500.00. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.09% of the company’s stock.
MPC has been the topic of several recent research reports. Zacks Investment Research upgraded Marathon Petroleum from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a research report on Friday, August 17th. Wells Fargo & Co restated a “buy” rating on shares of Marathon Petroleum in a research report on Monday, August 27th. Citigroup increased their target price on Marathon Petroleum from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, September 7th. Goldman Sachs Group initiated coverage on Marathon Petroleum in a research report on Tuesday, October 2nd. They set a “conviction-buy” rating on the stock. Finally, Barclays initiated coverage on Marathon Petroleum in a research report on Wednesday, October 3rd. They set an “overweight” rating and a $125.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Marathon Petroleum currently has an average rating of “Buy” and an average target price of $92.93.
About Marathon Petroleum
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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