QS Investors LLC cut its stake in Marathon Petroleum Corp (NYSE:MPC) by 4.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 190,537 shares of the oil and gas company’s stock after selling 8,876 shares during the period. QS Investors LLC’s holdings in Marathon Petroleum were worth $12,572,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of MPC. Third Point LLC purchased a new position in Marathon Petroleum in the third quarter valued at about $154,220,000. Renaissance Technologies LLC acquired a new stake in shares of Marathon Petroleum in the fourth quarter valued at approximately $131,947,000. Prudential Financial Inc. grew its position in shares of Marathon Petroleum by 61.6% in the third quarter. Prudential Financial Inc. now owns 3,987,706 shares of the oil and gas company’s stock valued at $223,630,000 after purchasing an additional 1,520,471 shares during the last quarter. Deutsche Bank AG grew its position in shares of Marathon Petroleum by 28.1% in the fourth quarter. Deutsche Bank AG now owns 4,208,375 shares of the oil and gas company’s stock valued at $277,664,000 after purchasing an additional 923,646 shares during the last quarter. Finally, Vaughan David Investments Inc. IL grew its position in shares of Marathon Petroleum by 12,827.2% in 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 during the last quarter. 77.54% of the stock is owned by institutional investors.
Shares of Marathon Petroleum Corp (NYSE:MPC) opened at $70.22 on Friday. Marathon Petroleum Corp has a 1 year low of $47.78 and a 1 year high of $73.53. The stock has a market cap of $33,428.93, a P/E ratio of 17.96, a P/E/G ratio of 0.99 and a beta of 1.49. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.75 and a current ratio of 1.28.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Investors 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 represents a $1.84 dividend on an annualized basis and a yield of 2.62%. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.40. Marathon Petroleum’s dividend payout ratio (DPR) is 26.59%.
Several analysts have recently commented on the stock. Credit Suisse Group reiterated an “outperform” rating and issued a $89.00 price target on shares of Marathon Petroleum in a research report on Wednesday. Piper Jaffray Companies reiterated a “buy” rating and issued a $90.00 price target on shares of Marathon Petroleum in a research report on Friday, February 23rd. Goldman Sachs Group upgraded shares of Marathon Petroleum from a “neutral” rating to a “buy” rating in a research report on Tuesday, February 13th. Scotiabank reiterated a “hold” rating and issued a $75.00 price target on shares of Marathon Petroleum in a research report on Wednesday, January 10th. Finally, UBS Group lowered shares of Marathon Petroleum from a “buy” rating to a “neutral” rating and increased their price target for the company from $63.00 to $65.00 in a research report on Wednesday, November 15th. Six equities research 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. Marathon Petroleum presently has a consensus rating of “Buy” and a consensus price target of $78.08.
In other news, Director Charles E. Bunch bought 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 6th. The shares were purchased at an average price of $67.38 per share, for a total transaction of $101,070.00. Following the completion of the transaction, the director now owns 12,853 shares in the company, valued at $866,035.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP C. Michael Palmer sold 17,298 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $64.55, for a total transaction of $1,116,585.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,276 shares of company stock worth $3,835,809. 1.05% of the stock is owned by company 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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