Legacy Bridge LLC increased its holdings in shares of Marathon Petroleum Co. (NYSE:MPC – Get Rating) by 40.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 724 shares of the oil and gas company’s stock after purchasing an additional 209 shares during the period. Legacy Bridge LLC’s holdings in Marathon Petroleum were worth $84,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Todd Asset Management LLC acquired a new position in shares of Marathon Petroleum during the 3rd quarter worth about $218,000. Westpac Banking Corp lifted its position in shares of Marathon Petroleum by 5.3% during the 3rd quarter. Westpac Banking Corp now owns 116,613 shares of the oil and gas company’s stock worth $11,583,000 after purchasing an additional 5,907 shares during the last quarter. Ballentine Partners LLC lifted its position in shares of Marathon Petroleum by 13.6% during the 3rd quarter. Ballentine Partners LLC now owns 7,505 shares of the oil and gas company’s stock worth $746,000 after purchasing an additional 901 shares during the last quarter. HBW Advisory Services LLC acquired a new position in shares of Marathon Petroleum during the 4th quarter worth about $237,000. Finally, Rehmann Capital Advisory Group lifted its position in shares of Marathon Petroleum by 3.4% during the 2nd quarter. Rehmann Capital Advisory Group now owns 5,008 shares of the oil and gas company’s stock worth $412,000 after purchasing an additional 167 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.
Insider Buying and Selling
In related news, Director Kim K.W. Rucker sold 6,000 shares of the stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $130.00, for a total transaction of $780,000.00. Following the sale, the director now directly owns 34,950 shares in the company, valued at approximately $4,543,500. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.28% of the stock is owned by corporate insiders.
Marathon Petroleum Trading Down 1.2 %
Marathon Petroleum (NYSE:MPC – Get Rating) last released its quarterly earnings results on Tuesday, January 31st. The oil and gas company reported $6.65 EPS for the quarter, topping analysts’ consensus estimates of $5.54 by $1.11. The business had revenue of $39.82 billion for the quarter, compared to analyst estimates of $35.29 billion. Marathon Petroleum had a return on equity of 41.55% and a net margin of 8.07%. Marathon Petroleum’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.30 EPS. Equities analysts anticipate that Marathon Petroleum Co. will post 19.88 earnings per share for the current fiscal year.
Marathon Petroleum Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Thursday, February 16th were given a dividend of $0.75 per share. The ex-dividend date was Wednesday, February 15th. This represents a $3.00 dividend on an annualized basis and a yield of 2.43%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 10.49%.
Analysts Set New Price Targets
Several research firms recently weighed in on MPC. Mizuho raised Marathon Petroleum from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $133.00 to $160.00 in a research report on Friday, March 10th. Raymond James boosted their price target on Marathon Petroleum from $155.00 to $165.00 and gave the company a “strong-buy” rating in a research note on Wednesday, February 1st. Barclays boosted their price target on Marathon Petroleum from $126.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, January 9th. StockNews.com started coverage on Marathon Petroleum in a research note on Thursday. They set a “strong-buy” rating on the stock. Finally, UBS Group started coverage on Marathon Petroleum in a research note on Wednesday, March 8th. They set a “buy” rating and a $165.00 price target on the stock. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $138.63.
Marathon Petroleum Profile
Marathon Petroleum Corp. is an independent company, which engages in the refining, marketing, and transportation of petroleum products in the United States. It operates through the following segments: Refining and Marketing, and Midstream. The Refining and 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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