Advisors Asset Management Inc. cut its stake in shares of Marathon Petroleum Corp (NYSE:MPC) by 6.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 96,408 shares of the oil and gas company’s stock after selling 6,364 shares during the quarter. Advisors Asset Management Inc.’s holdings in Marathon Petroleum were worth $5,809,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Teza Capital Management LLC acquired a new stake in Marathon Petroleum in the 4th quarter valued at about $413,000. Independent Advisor Alliance grew its stake in Marathon Petroleum by 44.1% in the 4th quarter. Independent Advisor Alliance now owns 6,608 shares of the oil and gas company’s stock valued at $398,000 after acquiring an additional 2,023 shares during the last quarter. ARP Americas LP grew its stake in Marathon Petroleum by 30.0% in the 4th quarter. ARP Americas LP now owns 45,900 shares of the oil and gas company’s stock valued at $2,765,000 after acquiring an additional 10,600 shares during the last quarter. Hartree Partners LP acquired a new stake in Marathon Petroleum in the 4th quarter valued at about $2,229,000. Finally, Benjamin F. Edwards & Company Inc. grew its stake in Marathon Petroleum by 22.9% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 9,687 shares of the oil and gas company’s stock valued at $584,000 after acquiring an additional 1,803 shares during the last quarter. 77.47% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts recently commented on the stock. Royal Bank of Canada reissued a “buy” rating and issued a $42.00 price objective on shares of Marathon Petroleum in a research note on Wednesday, March 18th. Morgan Stanley reduced their target price on shares of Marathon Petroleum from $75.00 to $35.00 and set an “overweight” rating on the stock in a report on Monday, March 16th. Raymond James lowered shares of Marathon Petroleum from a “strong-buy” rating to a “market perform” rating in a report on Tuesday. JPMorgan Chase & Co. reduced their target price on shares of Marathon Petroleum from $72.00 to $66.00 and set a “neutral” rating on the stock in a report on Monday, March 2nd. Finally, ValuEngine lowered shares of Marathon Petroleum from a “hold” rating to a “sell” rating in a report on Tuesday, March 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $65.33.
NYSE:MPC opened at $21.11 on Thursday. The firm has a market cap of $10.79 billion, a price-to-earnings ratio of 5.29, a price-to-earnings-growth ratio of 0.39 and a beta of 1.65. The company has a current ratio of 1.25, a quick ratio of 0.61 and a debt-to-equity ratio of 0.71. The company’s 50-day moving average is $43.10 and its two-hundred day moving average is $55.91. Marathon Petroleum Corp has a 12-month low of $15.26 and a 12-month high of $69.65.
Marathon Petroleum (NYSE:MPC) last released its earnings results on Wednesday, January 29th. The oil and gas company reported $1.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.71. The company had revenue of $31.38 billion for the quarter, compared to analyst estimates of $30.07 billion. Marathon Petroleum had a net margin of 2.11% and a return on equity of 7.45%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.41 EPS. On average, equities research analysts forecast that Marathon Petroleum Corp will post 3.27 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 19th were issued a dividend of $0.58 per share. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.53. This represents a $2.32 annualized dividend and a dividend yield of 10.99%. The ex-dividend date was Tuesday, February 18th. Marathon Petroleum’s dividend payout ratio is presently 46.96%.
Marathon Petroleum 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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