Nomura Asset Management Co. Ltd. decreased its stake in shares of Marathon Petroleum Corp (NYSE:MPC) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 86,398 shares of the oil and gas company’s stock after selling 1,570 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Marathon Petroleum were worth $5,700,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of MPC. Victory Capital Management Inc. lifted its position in shares of Marathon Petroleum by 38.1% during the third quarter. Victory Capital Management Inc. now owns 137,426 shares of the oil and gas company’s stock worth $7,707,000 after purchasing an additional 37,936 shares during the last quarter. Global X MANAGEMENT CO LLC lifted its position in shares of Marathon Petroleum by 273.7% during the third quarter. Global X MANAGEMENT CO LLC now owns 25,341 shares of the oil and gas company’s stock worth $1,421,000 after purchasing an additional 18,559 shares during the last quarter. FDx Advisors Inc. lifted its position in shares of Marathon Petroleum by 7.4% during the third quarter. FDx Advisors Inc. now owns 24,195 shares of the oil and gas company’s stock worth $1,357,000 after purchasing an additional 1,662 shares during the last quarter. HL Financial Services LLC lifted its position in shares of Marathon Petroleum by 12.9% during the third quarter. HL Financial Services LLC now owns 23,151 shares of the oil and gas company’s stock worth $1,298,000 after purchasing an additional 2,653 shares during the last quarter. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new position in shares of Marathon Petroleum during the third quarter worth about $2,816,000. 80.31% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Thomas M. Kelley sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $69.77, for a total transaction of $1,395,400.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Charles E. Bunch acquired 1,500 shares of the stock in a transaction that occurred on Tuesday, March 6th. The shares were bought at an average price of $67.38 per share, for a total transaction of $101,070.00. Following the purchase, the director now directly owns 12,853 shares of the company’s stock, valued at $866,035.14. The disclosure for this purchase can be found here. Insiders own 1.05% of the company’s stock.
Marathon Petroleum stock traded down $0.53 on Monday, hitting $69.15. The stock had a trading volume of 1,485,788 shares, compared to its average volume of 3,942,895. The company has a market capitalization of $33,171.84, a PE ratio of 9.96, a PEG ratio of 0.97 and a beta of 1.49. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.75 and a current ratio of 1.28. Marathon Petroleum Corp has a 52 week low of $47.78 and a 52 week high of $73.53.
Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Thursday, February 1st. The oil and gas company reported $1.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.05. The company had revenue of $21.24 billion for the quarter, compared to analysts’ expectations of $17.27 billion. Marathon Petroleum had a return on equity of 9.90% and a net margin of 4.60%. The business’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 earnings per share. equities analysts forecast that Marathon Petroleum Corp will post 4.93 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, March 12th. Stockholders of record on Wednesday, February 21st were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date was Tuesday, February 20th. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.40. Marathon Petroleum’s payout ratio is 26.59%.
Several equities analysts have recently commented on MPC shares. Royal Bank of Canada reaffirmed a “buy” rating and set a $89.00 price target on shares of Marathon Petroleum in a research report on Tuesday, January 30th. Citigroup reissued a “buy” rating and issued a $79.00 target price on shares of Marathon Petroleum in a report on Friday, February 2nd. Barclays reissued a “buy” rating and issued a $90.00 target price on shares of Marathon Petroleum in a report on Friday, February 16th. Goldman Sachs raised shares of Marathon Petroleum from a “neutral” rating to a “buy” rating in a report on Tuesday, February 13th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $90.00 target price on shares of Marathon Petroleum in a report on Friday, February 23rd. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $80.07.
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Marathon Petroleum Company 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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