Doheny Asset Management CA increased its position in Marathon Petroleum Corp (NYSE:MPC) by 61.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 61,550 shares of the oil and gas company’s stock after acquiring an additional 23,310 shares during the period. Marathon Petroleum comprises about 1.9% of Doheny Asset Management CA’s investment portfolio, making the stock its 16th biggest holding. Doheny Asset Management CA’s holdings in Marathon Petroleum were worth $4,061,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Captrust Financial Advisors bought a new stake in shares of Marathon Petroleum in the fourth quarter worth $105,000. Truewealth LLC bought a new stake in shares of Marathon Petroleum in the fourth quarter worth $114,000. American Beacon Advisors Inc. bought a new stake in shares of Marathon Petroleum in the fourth quarter worth $116,000. Cerebellum GP LLC bought a new stake in shares of Marathon Petroleum in the fourth quarter worth $121,000. Finally, BB&T Investment Services Inc. grew its holdings in shares of Marathon Petroleum by 118.2% in the third quarter. BB&T Investment Services Inc. now owns 3,063 shares of the oil and gas company’s stock worth $178,000 after acquiring an additional 1,659 shares during the period. 80.31% of the stock is owned by institutional investors.
In other Marathon Petroleum news, Director Charles E. Bunch acquired 1,500 shares of the stock in a transaction dated Tuesday, March 6th. The shares were acquired at an average cost of $67.38 per share, for a total transaction of $101,070.00. Following the completion of the transaction, the director now directly owns 12,853 shares of the company’s stock, valued at $866,035.14. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Thomas M. Kelley sold 20,000 shares of the business’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $69.77, for a total value of $1,395,400.00. The disclosure for this sale can be found here. 1.05% of the stock is owned by insiders.
Several research firms recently weighed in on MPC. Citigroup lifted their target price on Marathon Petroleum from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, March 13th. Zacks Investment Research downgraded Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 14th. Credit Suisse Group reiterated an “outperform” rating and set a $89.00 target price on shares of Marathon Petroleum in a research report on Wednesday, March 7th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $90.00 target price (up from $88.00) on shares of Marathon Petroleum in a research report on Tuesday, March 13th. Finally, Wells Fargo reiterated a “market perform” rating and set a $66.00 target price (down from $72.00) on shares of Marathon Petroleum in a research report on Thursday, March 15th. They noted that the move was a valuation call. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $80.07.
Marathon Petroleum Corp (NYSE:MPC) opened at $69.21 on Tuesday. Marathon Petroleum Corp has a 52-week low of $47.78 and a 52-week high of $73.53. The company has a market capitalization of $33,171.84, a PE ratio of 17.82, a PEG ratio of 0.97 and a beta of 1.49. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.28 and a quick ratio of 0.75.
Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Thursday, February 1st. The oil and gas company reported $1.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.05. Marathon Petroleum had a return on equity of 9.90% and a net margin of 4.60%. The business had revenue of $21.24 billion for the quarter, compared to the consensus estimate of $17.27 billion. During the same period in the previous year, the business earned $0.43 earnings per share. The business’s revenue was up 22.9% on a year-over-year basis. sell-side analysts predict that Marathon Petroleum Corp will post 4.93 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 12th. Stockholders of record on Wednesday, February 21st were given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.66%. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.40. The ex-dividend date was Tuesday, February 20th. Marathon Petroleum’s payout ratio is presently 26.59%.
About Marathon Petroleum
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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