Standard Life Aberdeen plc lifted its stake in shares of Marathon Petroleum Corp (NYSE:MPC) by 25.1% during the 4th quarter, Holdings Channel reports. The firm owned 460,581 shares of the oil and gas company’s stock after buying an additional 92,329 shares during the quarter. Standard Life Aberdeen plc’s holdings in Marathon Petroleum were worth $30,391,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. AlphaStar Capital Management LLC bought a new position in shares of Marathon Petroleum during the fourth quarter worth about $504,000. State of Tennessee Treasury Department lifted its position in shares of Marathon Petroleum by 53.1% during the fourth quarter. State of Tennessee Treasury Department now owns 914,454 shares of the oil and gas company’s stock worth $60,336,000 after purchasing an additional 317,184 shares during the last quarter. First Republic Investment Management Inc. lifted its position in shares of Marathon Petroleum by 23.0% during the fourth quarter. First Republic Investment Management Inc. now owns 172,134 shares of the oil and gas company’s stock worth $11,357,000 after purchasing an additional 32,154 shares during the last quarter. Mission Wealth Management LP bought a new position in shares of Marathon Petroleum during the fourth quarter worth about $228,000. Finally, Norinchukin Bank The lifted its position in shares of Marathon Petroleum by 31.5% during the fourth quarter. Norinchukin Bank The now owns 50,622 shares of the oil and gas company’s stock worth $3,340,000 after purchasing an additional 12,120 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.
In related news, VP Rodney P. Nichols sold 6,374 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $64.93, for a total transaction of $413,863.82. Following the transaction, the vice president now owns 74,674 shares in the company, valued at $4,848,582.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas M. Kelley sold 35,604 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $64.75, for a total transaction of $2,305,359.00. The disclosure for this sale can be found here. Insiders have sold 59,276 shares of company stock worth $3,835,809 in the last quarter. Company insiders own 1.05% of the company’s stock.
Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Thursday, February 1st. The oil and gas company reported $1.05 EPS for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.05. Marathon Petroleum had a net margin of 5.18% and a return on equity of 28.33%. The business had revenue of $21.24 billion for the quarter, compared to analyst estimates of $17.27 billion. During the same quarter last year, the business earned $0.43 earnings per share. The business’s revenue for the quarter was up 22.9% on a year-over-year basis. research analysts expect that Marathon Petroleum Corp will post 5.02 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Wednesday, February 21st will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Tuesday, February 20th. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.40. Marathon Petroleum’s dividend payout ratio (DPR) is currently 26.59%.
A number of equities analysts have issued reports on MPC shares. Barclays raised their target price on shares of Marathon Petroleum from $63.00 to $76.00 and gave the stock an “overweight” rating in a report on Tuesday, November 14th. Royal Bank of Canada reissued a “buy” rating and issued a $89.00 target price on shares of Marathon Petroleum in a report on Tuesday, January 30th. Credit Suisse Group started coverage on shares of Marathon Petroleum in a report on Wednesday, January 3rd. They issued an “outperform” rating and a $83.00 target price on the stock. UBS Group cut shares of Marathon Petroleum from a “buy” rating to a “neutral” rating and raised their target price for the stock from $63.00 to $65.00 in a report on Sunday, November 26th. Finally, Zacks Investment Research raised shares of Marathon Petroleum from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a report on Friday, November 10th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. Marathon Petroleum presently has an average rating of “Buy” and an average target price of $77.58.
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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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