Caxton Associates LP increased its stake in shares of Marathon Petroleum Corp (NYSE:MPC) by 95.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,572 shares of the oil and gas company’s stock after purchasing an additional 8,572 shares during the quarter. Caxton Associates LP’s holdings in Marathon Petroleum were worth $1,159,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Advisor Group Inc. increased its position in Marathon Petroleum by 13.4% during the 4th quarter. Advisor Group Inc. now owns 32,137 shares of the oil and gas company’s stock worth $2,121,000 after purchasing an additional 3,805 shares in the last quarter. JOYN Advisors Inc. acquired a new position in Marathon Petroleum during the 4th quarter worth approximately $279,000. Cypress Capital Group acquired a new position in Marathon Petroleum during the 4th quarter worth approximately $527,000. Thrivent Financial For Lutherans increased its position in Marathon Petroleum by 1,127.9% during the 4th quarter. Thrivent Financial For Lutherans now owns 250,408 shares of the oil and gas company’s stock worth $16,522,000 after purchasing an additional 230,014 shares in the last quarter. Finally, MANA Advisors LLC acquired a new position in Marathon Petroleum during the 4th quarter worth approximately $496,000. Institutional investors and hedge funds own 77.54% of the company’s stock.
In other news, Director Charles E. Bunch acquired 1,500 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 12,853 shares in the company, valued at approximately $866,035.14. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas M. Kelley sold 35,604 shares of the stock in a transaction on Thursday, December 14th. The stock was 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. Over the last quarter, insiders have sold 59,276 shares of company stock valued at $3,835,809. 1.05% of the stock is currently owned by corporate insiders.
Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Thursday, February 1st. The oil and gas company reported $1.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.05. Marathon Petroleum had a net margin of 4.60% and a return on equity of 9.90%. The company had revenue of $21.24 billion during the quarter, compared to analysts’ expectations of $17.27 billion. During the same period in the prior year, the company posted $0.43 earnings per share. Marathon Petroleum’s revenue for the quarter was up 22.9% compared to the same quarter last year. research analysts anticipate that Marathon Petroleum Corp will post 4.99 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Wednesday, February 21st will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Tuesday, February 20th. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.40. This represents a $1.84 annualized dividend and a dividend yield of 2.62%. Marathon Petroleum’s dividend payout ratio is 48.29%.
Several brokerages have issued reports on MPC. Barclays upped their price target on shares of Marathon Petroleum from $63.00 to $76.00 and gave the company an “overweight” rating in a research report on Tuesday, November 14th. Royal Bank of Canada restated a “buy” rating and issued a $89.00 price target on shares of Marathon Petroleum in a research report on Tuesday, January 30th. Credit Suisse Group began coverage on shares of Marathon Petroleum in a research report on Wednesday, January 3rd. They issued an “outperform” rating and a $83.00 price target for the company. UBS Group cut shares of Marathon Petroleum from a “buy” rating to a “neutral” rating and upped their price target for the company from $63.00 to $65.00 in a research report on Sunday, November 26th. Finally, Cowen upped their price target on shares of Marathon Petroleum from $60.00 to $79.00 and gave the company an “outperform” rating in a research report on Tuesday, November 14th. They noted that the move was a valuation call. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $78.08.
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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