Chicago Equity Partners LLC grew its holdings in Marathon Petroleum Co. (NYSE:MPC) by 40.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 12,025 shares of the oil and gas company’s stock after purchasing an additional 3,455 shares during the period. Chicago Equity Partners LLC’s holdings in Marathon Petroleum were worth $879,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the company. Robeco Institutional Asset Management B.V. increased its stake in shares of Marathon Petroleum by 8.4% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 359,925 shares of the oil and gas company’s stock valued at $26,317,000 after purchasing an additional 28,040 shares during the last quarter. Bailard Inc. bought a new position in shares of Marathon Petroleum in the 1st quarter valued at $3,455,000. Becker Capital Management Inc. bought a new position in shares of Marathon Petroleum in the 1st quarter valued at $914,000. Quantitative Systematic Strategies LLC increased its stake in shares of Marathon Petroleum by 91.6% in the 1st quarter. Quantitative Systematic Strategies LLC now owns 6,831 shares of the oil and gas company’s stock valued at $499,000 after purchasing an additional 3,266 shares during the last quarter. Finally, Financial Gravity Companies Inc. increased its stake in shares of Marathon Petroleum by 19.2% in the 1st quarter. Financial Gravity Companies Inc. now owns 6,184 shares of the oil and gas company’s stock valued at $470,000 after purchasing an additional 994 shares during the last quarter. Institutional investors own 83.75% of the company’s stock.
Several brokerages have recently issued reports on MPC. Bank of America lifted their price target on Marathon Petroleum from $80.00 to $88.00 and gave the company a “neutral” rating in a research note on Tuesday, May 1st. Wells Fargo reiterated a “market perform” rating and issued a $80.00 price target (up previously from $73.00) on shares of Marathon Petroleum in a research note on Tuesday, May 1st. Jefferies Group upgraded Marathon Petroleum from a “hold” rating to a “buy” rating and lifted their price target for the company from $75.00 to $95.00 in a research note on Thursday, May 3rd. Cowen reiterated an “outperform” rating and issued a $90.00 price target (up previously from $76.00) on shares of Marathon Petroleum in a research note on Thursday, February 1st. Finally, ValuEngine upgraded Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. Six research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $83.63.
In other Marathon Petroleum news, insider Thomas M. Kelley sold 20,000 shares of Marathon Petroleum stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $69.77, for a total transaction of $1,395,400.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Charles E. Bunch bought 1,500 shares of the business’s stock in a transaction on Tuesday, March 6th. The shares were 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 in the company, valued at approximately $866,035.14. The disclosure for this purchase can be found here. 1.09% of the stock is currently owned by insiders.
Shares of MPC stock opened at $79.53 on Friday. The firm has a market cap of $37.28 billion, a P/E ratio of 20.93, a PEG ratio of 1.24 and a beta of 1.36. Marathon Petroleum Co. has a twelve month low of $49.30 and a twelve month high of $83.27. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.12 and a current ratio of 1.73.
Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, May 1st. The oil and gas company reported $0.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.07). The company had revenue of $18.98 billion for the quarter, compared to analyst estimates of $21.78 billion. Marathon Petroleum had a return on equity of 10.05% and a net margin of 4.45%. The firm’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.06 earnings per share. equities research analysts expect that Marathon Petroleum Co. will post 4.59 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 11th. Shareholders of record on Wednesday, May 16th will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Tuesday, May 15th. Marathon Petroleum’s payout ratio is presently 48.42%.
Marathon Petroleum Company Profile
Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.
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