Good Life Advisors LLC lifted its stake in shares of Marathon Petroleum Corp (NYSE:MPC) by 13.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,511 shares of the oil and gas company’s stock after purchasing an additional 902 shares during the quarter. Good Life Advisors LLC’s holdings in Marathon Petroleum were worth $522,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Zeke Capital Advisors LLC raised its stake in shares of Marathon Petroleum by 30.3% during the third quarter. Zeke Capital Advisors LLC now owns 8,891 shares of the oil and gas company’s stock valued at $499,000 after purchasing an additional 2,069 shares in the last quarter. Vaughan David Investments Inc. IL raised its stake in shares of Marathon Petroleum by 12,827.2% during the third quarter. Vaughan David Investments Inc. IL now owns 607,579 shares of the oil and gas company’s stock valued at $9,405,000 after purchasing an additional 602,879 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Marathon Petroleum by 29.9% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 414,303 shares of the oil and gas company’s stock valued at $23,234,000 after purchasing an additional 95,386 shares in the last quarter. Eagle Ridge Investment Management bought a new stake in shares of Marathon Petroleum during the third quarter valued at about $896,000. Finally, Raymond James Financial Services Advisors Inc. raised its stake in shares of Marathon Petroleum by 3.2% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 975,944 shares of the oil and gas company’s stock valued at $64,392,000 after purchasing an additional 30,353 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.
A number of equities research analysts recently weighed in on MPC shares. Barclays lifted their price objective on shares of Marathon Petroleum from $63.00 to $76.00 and gave the company an “overweight” rating in a research note on Tuesday, November 14th. Royal Bank of Canada reaffirmed a “buy” rating and set a $89.00 target price on shares of Marathon Petroleum in a report on Tuesday, January 30th. Credit Suisse Group started coverage on Marathon Petroleum in a report on Wednesday, January 3rd. They set an “outperform” rating and a $83.00 target price on the stock. UBS Group lowered Marathon Petroleum from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $63.00 to $65.00 in a report on Sunday, November 26th. Finally, Zacks Investment Research raised 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 investment 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. The stock presently has a consensus rating of “Buy” and a consensus price target of $77.58.
Marathon Petroleum Corp (NYSE:MPC) opened at $66.81 on Monday. The stock has a market capitalization of $32,469.66, a PE ratio of 9.65, a P/E/G ratio of 0.93 and a beta of 1.49. Marathon Petroleum Corp has a fifty-two week low of $47.78 and a fifty-two week high of $73.53. The company has a current ratio of 1.52, a quick ratio of 0.80 and a debt-to-equity ratio of 0.64.
Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Thursday, February 1st. The oil and gas company reported $1.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.05. The firm 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 28.33% and a net margin of 5.18%. Marathon Petroleum’s revenue was up 22.9% on a year-over-year basis. During the same quarter last year, the business posted $0.43 EPS. analysts anticipate that Marathon Petroleum Corp will post 5.02 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Wednesday, February 21st will be paid a $0.46 dividend. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $1.84 dividend on an annualized basis and a yield of 2.75%. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.40. Marathon Petroleum’s dividend payout ratio (DPR) is currently 26.59%.
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Marathon Petroleum 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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