Sterling Capital Management LLC decreased its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 2.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 171,579 shares of the oil and gas company’s stock after selling 4,330 shares during the period. Sterling Capital Management LLC’s holdings in Marathon Petroleum were worth $9,622,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of MPC. Principal Financial Group Inc. increased its holdings in shares of Marathon Petroleum by 312.4% during the 2nd quarter. Principal Financial Group Inc. now owns 3,947,936 shares of the oil and gas company’s stock valued at $206,595,000 after acquiring an additional 2,990,640 shares during the last quarter. Third Point LLC acquired a new stake in Marathon Petroleum in the 3rd quarter valued at approximately $154,220,000. Alliancebernstein L.P. grew its holdings in Marathon Petroleum by 93.3% in the 2nd quarter. Alliancebernstein L.P. now owns 5,331,521 shares of the oil and gas company’s stock valued at $278,998,000 after buying an additional 2,572,727 shares during the last quarter. Vanguard Group Inc. grew its holdings in Marathon Petroleum by 4.1% in the 2nd quarter. Vanguard Group Inc. now owns 39,255,717 shares of the oil and gas company’s stock valued at $2,054,251,000 after buying an additional 1,544,114 shares during the last quarter. Finally, Prudential Financial Inc. grew its holdings in Marathon Petroleum by 61.6% in the 3rd quarter. Prudential Financial Inc. now owns 3,987,706 shares of the oil and gas company’s stock valued at $223,630,000 after buying an additional 1,520,471 shares during the last quarter. 80.83% of the stock is currently owned by institutional investors and hedge funds.
MPC has been the topic of a number of research analyst reports. Cowen reaffirmed a “buy” rating and issued a $60.00 target price on shares of Marathon Petroleum in a report on Tuesday, October 17th. BidaskClub upgraded Marathon Petroleum from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Scotiabank reiterated a “hold” rating and issued a $55.00 price objective on shares of Marathon Petroleum in a research report on Friday, September 1st. Zacks Investment Research downgraded Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Wednesday, November 22nd. Finally, Citigroup raised their price objective on Marathon Petroleum from $67.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $66.25.
In other Marathon Petroleum news, VP Raymond L. Brooks sold 13,000 shares of Marathon Petroleum stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $62.26, for a total value of $809,380.00. Following the completion of the transaction, the vice president now owns 32,205 shares in the company, valued at approximately $2,005,083.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Anthony R. Kenney sold 77,578 shares of Marathon Petroleum stock in a transaction on Monday, November 6th. The shares were sold at an average price of $62.35, for a total value of $4,836,988.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 107,876 shares of company stock valued at $6,762,954. Corporate insiders own 1.05% of the company’s stock.
Marathon Petroleum Corporation (NYSE:MPC) traded up $0.51 during trading on Friday, hitting $64.66. The company had a trading volume of 4,319,000 shares, compared to its average volume of 4,335,051. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.52 and a quick ratio of 0.80. Marathon Petroleum Corporation has a 1-year low of $46.88 and a 1-year high of $65.41. The company has a market cap of $31,331.64, a P/E ratio of 19.50, a PEG ratio of 1.57 and a beta of 1.61.
Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Thursday, October 26th. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.48 by $0.29. Marathon Petroleum had a return on equity of 8.52% and a net margin of 2.35%. The firm had revenue of $19.36 billion during the quarter, compared to the consensus estimate of $19.38 billion. During the same quarter in the previous year, the company posted $0.58 EPS. The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. sell-side analysts anticipate that Marathon Petroleum Corporation will post 3.83 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 11th. Shareholders of record on Thursday, November 16th were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, November 15th. This represents a $1.60 annualized dividend and a yield of 2.47%. Marathon Petroleum’s payout ratio is 49.08%.
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Marathon Petroleum Profile
Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.
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