Mackay Shields LLC grew its holdings in Marathon Petroleum Corp (NYSE:MPC) by 1.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 139,652 shares of the oil and gas company’s stock after acquiring an additional 1,753 shares during the period. Mackay Shields LLC’s holdings in Marathon Petroleum were worth $8,484,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. United Asset Strategies Inc. boosted its holdings in Marathon Petroleum by 9.4% during the third quarter. United Asset Strategies Inc. now owns 24,344 shares of the oil and gas company’s stock worth $1,479,000 after buying an additional 2,088 shares in the last quarter. IFM Investors Pty Ltd boosted its holdings in Marathon Petroleum by 54.1% during the third quarter. IFM Investors Pty Ltd now owns 72,589 shares of the oil and gas company’s stock worth $4,410,000 after buying an additional 25,492 shares in the last quarter. Verity Asset Management Inc. acquired a new position in Marathon Petroleum during the third quarter worth $229,000. ARP Americas LP acquired a new position in Marathon Petroleum during the third quarter worth $2,144,000. Finally, Wetherby Asset Management Inc. raised its position in Marathon Petroleum by 3.0% during the third quarter. Wetherby Asset Management Inc. now owns 21,397 shares of the oil and gas company’s stock worth $1,299,000 after acquiring an additional 614 shares during the period. 76.62% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have weighed in on MPC shares. Wells Fargo & Co upped their price objective on shares of Marathon Petroleum from $75.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 25th. Cowen upped their price objective on shares of Marathon Petroleum from $57.00 to $60.00 and gave the stock a “market perform” rating in a research report on Wednesday, September 25th. ValuEngine cut shares of Marathon Petroleum from a “hold” rating to a “sell” rating in a research report on Wednesday. Jefferies Financial Group started coverage on shares of Marathon Petroleum in a research report on Tuesday, September 3rd. They set a “buy” rating and a $75.00 price objective for the company. Finally, Mizuho set a $90.00 price objective on shares of Marathon Petroleum and gave the stock a “buy” rating in a research report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $73.38.
Shares of NYSE MPC traded down $0.48 during mid-day trading on Friday, reaching $65.77. The company’s stock had a trading volume of 639,162 shares, compared to its average volume of 6,600,017. The stock has a 50-day moving average of $62.84 and a two-hundred day moving average of $54.95. The stock has a market capitalization of $43.14 billion, a P/E ratio of 9.70, a P/E/G ratio of 1.58 and a beta of 1.70. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.63 and a current ratio of 1.25. Marathon Petroleum Corp has a 1-year low of $43.96 and a 1-year high of $69.76.
Marathon Petroleum (NYSE:MPC) last issued its earnings results on Thursday, October 31st. The oil and gas company reported $1.63 EPS for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.33. The business had revenue of $31.20 billion during the quarter, compared to analysts’ expectations of $32.89 billion. Marathon Petroleum had a net margin of 2.50% and a return on equity of 8.94%. The company’s quarterly revenue was up 34.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.70 earnings per share. Analysts predict that Marathon Petroleum Corp will post 4.21 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date is Tuesday, November 19th. Marathon Petroleum’s dividend payout ratio (DPR) is 31.27%.
Marathon Petroleum Company Profile
Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing; Retail; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals and trucks that the company owns or operates.
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