Dana Investment Advisors Inc. boosted its stake in shares of Marathon Petroleum Corp (NYSE:MPC) by 4,581.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 173,576 shares of the oil and gas company’s stock after purchasing an additional 169,868 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Marathon Petroleum were worth $10,243,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Hanson McClain Inc. bought a new stake in Marathon Petroleum during the 4th quarter valued at $25,000. Certified Advisory Corp raised its stake in Marathon Petroleum by 71.2% during the 4th quarter. Certified Advisory Corp now owns 476 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 198 shares in the last quarter. SeaBridge Investment Advisors LLC bought a new stake in Marathon Petroleum during the 4th quarter valued at $30,000. Claybrook Capital LLC bought a new stake in Marathon Petroleum during the 4th quarter valued at $30,000. Finally, Kistler Tiffany Companies LLC bought a new stake in Marathon Petroleum during the 4th quarter valued at $30,000. Institutional investors and hedge funds own 76.09% of the company’s stock.
Shares of NYSE MPC opened at $59.69 on Friday. The company has a current ratio of 1.36, a quick ratio of 0.62 and a debt-to-equity ratio of 0.61. Marathon Petroleum Corp has a one year low of $54.29 and a one year high of $88.45. The stock has a market capitalization of $40.13 billion, a price-to-earnings ratio of 8.80, a PEG ratio of 0.62 and a beta of 1.38.
The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Wednesday, February 20th were paid a $0.53 dividend. The ex-dividend date was Tuesday, February 19th. This represents a $2.12 dividend on an annualized basis and a yield of 3.55%. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.46. Marathon Petroleum’s payout ratio is 31.27%.
In other Marathon Petroleum news, CEO Gary R. Heminger sold 187,142 shares of the business’s stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $65.00, for a total value of $12,164,230.00. Following the transaction, the chief executive officer now owns 434,166 shares in the company, valued at $28,220,790. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.09% of the company’s stock.
Several brokerages have weighed in on MPC. ValuEngine downgraded Marathon Petroleum from a “hold” rating to a “sell” rating in a research note on Tuesday, March 5th. Citigroup cut their target price on Marathon Petroleum from $104.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, December 6th. Macquarie began coverage on Marathon Petroleum in a research note on Tuesday, February 5th. They set an “outperform” rating and a $67.18 target price on the stock. Cowen reaffirmed an “outperform” rating and set a $101.00 target price (up previously from $87.00) on shares of Marathon Petroleum in a research note on Thursday, December 6th. They noted that the move was a valuation call. Finally, Morgan Stanley cut their target price on Marathon Petroleum from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Tuesday, November 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $92.09.
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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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