Sentry Investment Management LLC cut its stake in Marathon Petroleum Corp (NYSE:MPC) by 8.2% in the first quarter, Holdings Channel reports. The fund owned 61,450 shares of the oil and gas company’s stock after selling 5,456 shares during the period. Sentry Investment Management LLC’s holdings in Marathon Petroleum were worth $3,678,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in MPC. Greatmark Investment Partners Inc. increased its holdings in Marathon Petroleum by 347.8% in the fourth quarter. Greatmark Investment Partners Inc. now owns 38,530 shares of the oil and gas company’s stock worth $2,274,000 after purchasing an additional 29,925 shares in the last quarter. Kwmg LLC boosted its position in shares of Marathon Petroleum by 14.9% during the fourth quarter. Kwmg LLC now owns 32,755 shares of the oil and gas company’s stock valued at $1,933,000 after buying an additional 4,259 shares during the last quarter. Barings LLC boosted its position in shares of Marathon Petroleum by 30.5% during the fourth quarter. Barings LLC now owns 51,550 shares of the oil and gas company’s stock valued at $3,042,000 after buying an additional 12,050 shares during the last quarter. Investec Asset Management LTD boosted its position in shares of Marathon Petroleum by 452.8% during the fourth quarter. Investec Asset Management LTD now owns 492,095 shares of the oil and gas company’s stock valued at $29,039,000 after buying an additional 403,079 shares during the last quarter. Finally, Toronto Dominion Bank boosted its position in shares of Marathon Petroleum by 108.3% during the first quarter. Toronto Dominion Bank now owns 819,141 shares of the oil and gas company’s stock valued at $49,019,000 after buying an additional 425,808 shares during the last quarter. 77.93% of the stock is owned by institutional investors.
In related news, CEO Gary R. Heminger sold 187,142 shares of the company’s stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $65.00, for a total transaction of $12,164,230.00. Following the completion of the transaction, the chief executive officer now owns 434,166 shares of the company’s stock, valued at $28,220,790. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Donald C. Templin purchased 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were bought at an average cost of $50.74 per share, with a total value of $253,700.00. Following the transaction, the insider now directly owns 93,182 shares of the company’s stock, valued at approximately $4,728,054.68. The disclosure for this purchase can be found here. Corporate insiders own 1.06% of the company’s stock.
Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Wednesday, May 8th. The oil and gas company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.10). The firm had revenue of $28.62 billion for the quarter, compared to analysts’ expectations of $27.70 billion. Marathon Petroleum had a net margin of 2.56% and a return on equity of 11.10%. The business’s quarterly revenue was up 50.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.08 EPS. Equities analysts expect that Marathon Petroleum Corp will post 4.77 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 16th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 3.98%. The ex-dividend date is Wednesday, May 15th. Marathon Petroleum’s dividend payout ratio (DPR) is 31.27%.
Several research analysts recently issued reports on the company. Cowen cut Marathon Petroleum from an “outperform” rating to a “market perform” rating and cut their target price for the company from $90.00 to $65.00 in a research report on Friday, May 10th. Credit Suisse Group cut their target price on Marathon Petroleum from $95.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, May 13th. Royal Bank of Canada dropped their price objective on shares of Marathon Petroleum from $71.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Raymond James reduced their price target on shares of Marathon Petroleum from $90.00 to $85.00 and set a “strong-buy” rating on the stock in a report on Wednesday, April 10th. Finally, Macquarie began coverage on shares of Marathon Petroleum in a report on Tuesday, February 5th. They issued an “outperform” rating and a $67.18 price target on the stock. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $85.68.
Marathon Petroleum Profile
Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing; Retail; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals and trucks that the company owns or operates.
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