J.W. Cole Advisors Inc. purchased a new position in Marathon Petroleum Co. (NYSE:MPC – Get Rating) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,255 shares of the oil and gas company’s stock, valued at approximately $278,000.
Several other hedge funds have also added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. lifted its stake in Marathon Petroleum by 20.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 97,988 shares of the oil and gas company’s stock worth $8,377,000 after purchasing an additional 16,633 shares during the last quarter. EJF Capital LLC lifted its stake in Marathon Petroleum by 9.5% in the first quarter. EJF Capital LLC now owns 5,039 shares of the oil and gas company’s stock worth $431,000 after purchasing an additional 439 shares during the last quarter. Ninety One UK Ltd lifted its stake in Marathon Petroleum by 26.9% in the first quarter. Ninety One UK Ltd now owns 127,988 shares of the oil and gas company’s stock worth $10,943,000 after purchasing an additional 27,139 shares during the last quarter. M Holdings Securities Inc. bought a new stake in Marathon Petroleum in the first quarter worth $908,000. Finally, Advisory Services Network LLC raised its stake in shares of Marathon Petroleum by 36.1% during the first quarter. Advisory Services Network LLC now owns 32,766 shares of the oil and gas company’s stock valued at $2,802,000 after acquiring an additional 8,683 shares during the last quarter. 78.69% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other Marathon Petroleum news, VP Carl Kristopher Hagedorn sold 14,353 shares of the company’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $105.41, for a total value of $1,512,949.73. Following the sale, the vice president now owns 7,873 shares in the company, valued at $829,892.93. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.28% of the company’s stock.
Marathon Petroleum Price Performance
Marathon Petroleum (NYSE:MPC – Get Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The oil and gas company reported $10.61 earnings per share for the quarter, topping analysts’ consensus estimates of $4.98 by $5.63. The business had revenue of $54.33 billion for the quarter, compared to analysts’ expectations of $44.26 billion. Marathon Petroleum had a net margin of 5.09% and a return on equity of 23.85%. The business’s revenue was up 82.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.67 earnings per share. On average, sell-side analysts expect that Marathon Petroleum Co. will post 21.15 earnings per share for the current year.
Marathon Petroleum Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Wednesday, August 17th were issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date was Tuesday, August 16th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 15.68%.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on MPC shares. Credit Suisse Group upped their price objective on shares of Marathon Petroleum to $130.00 in a research note on Thursday, June 9th. StockNews.com raised shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research note on Sunday, September 11th. Barclays upped their price objective on shares of Marathon Petroleum from $94.00 to $112.00 and gave the company an “overweight” rating in a research note on Tuesday, August 16th. Cowen upped their price objective on shares of Marathon Petroleum to $129.00 in a research note on Tuesday. Finally, Royal Bank of Canada upped their price objective on shares of Marathon Petroleum from $110.00 to $121.00 and gave the company an “outperform” rating in a research note on Wednesday, August 3rd. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $116.62.
Marathon Petroleum Company Profile
Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. It operates in two segments, Refining & Marketing, and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale.
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