Pin Oak Investment Advisors Inc. purchased a new stake in shares of Marathon Petroleum Corp (NYSE:MPC) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,908 shares of the oil and gas company’s stock, valued at approximately $258,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Captrust Financial Advisors acquired a new position in shares of Marathon Petroleum during the fourth quarter valued at $105,000. Truewealth LLC acquired a new position in shares of Marathon Petroleum during the fourth quarter valued at $114,000. American Beacon Advisors Inc. acquired a new position in shares of Marathon Petroleum during the fourth quarter valued at $116,000. Cerebellum GP LLC acquired a new position in shares of Marathon Petroleum during the fourth quarter valued at $121,000. Finally, BB&T Investment Services Inc. lifted its stake in shares of Marathon Petroleum by 118.2% during the third quarter. BB&T Investment Services Inc. now owns 3,063 shares of the oil and gas company’s stock valued at $178,000 after acquiring an additional 1,659 shares during the period. 80.31% of the stock is currently owned by institutional investors and hedge funds.
Shares of Marathon Petroleum Corp (NYSE MPC) opened at $72.97 on Friday. Marathon Petroleum Corp has a fifty-two week low of $47.78 and a fifty-two week high of $73.89. The stock has a market capitalization of $34,852.33, a PE ratio of 10.54, a price-to-earnings-growth ratio of 1.07 and a beta of 1.49. The company has a quick ratio of 0.75, a current ratio of 1.28 and a debt-to-equity ratio of 0.59.
Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Thursday, February 1st. The oil and gas company reported $1.05 earnings per share (EPS) for the quarter, topping the 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 company had revenue of $21.24 billion during the quarter, compared to the consensus estimate of $17.27 billion. During the same period in the prior year, the company earned $0.43 earnings per share. The company’s revenue for the quarter was up 22.9% compared to the same quarter last year. sell-side analysts predict that Marathon Petroleum Corp will post 4.72 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, March 12th. Shareholders of record on Wednesday, February 21st were issued a $0.46 dividend. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.40. This represents a $1.84 annualized dividend and a dividend yield of 2.52%. The ex-dividend date was Tuesday, February 20th. Marathon Petroleum’s dividend payout ratio is 26.59%.
Several equities analysts have recently issued reports on MPC shares. Citigroup reaffirmed a “buy” rating and set a $79.00 price target on shares of Marathon Petroleum in a research note on Friday, February 2nd. Royal Bank of Canada reiterated a “buy” rating and issued a $89.00 price objective on shares of Marathon Petroleum in a report on Tuesday, January 30th. Piper Jaffray Companies reiterated a “buy” rating and issued a $90.00 price objective on shares of Marathon Petroleum in a report on Friday, February 23rd. Barclays reiterated a “buy” rating and issued a $90.00 price objective on shares of Marathon Petroleum in a report on Friday, February 16th. Finally, Goldman Sachs upgraded Marathon Petroleum from a “neutral” rating to a “buy” rating in a report on Tuesday, February 13th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $80.07.
In other Marathon Petroleum news, Director Charles E. Bunch purchased 1,500 shares of the stock in a transaction on Tuesday, March 6th. The stock was bought at an average cost of $67.38 per share, for a total transaction of $101,070.00. Following the completion of the acquisition, the director now directly owns 12,853 shares of the company’s stock, valued at $866,035.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Thomas M. Kelley sold 20,000 shares of the stock in a transaction dated Tuesday, March 13th. The stock was 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 corporate insiders.
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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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