Hartford Financial Management Inc. lowered its position in Marathon Petroleum Corp (NYSE:MPC) by 2.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,660 shares of the oil and gas company’s stock after selling 736 shares during the quarter. Hartford Financial Management Inc.’s holdings in Marathon Petroleum were worth $2,049,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the business. BlackRock Inc. increased its holdings in Marathon Petroleum by 1.0% during the 1st quarter. BlackRock Inc. now owns 55,146,715 shares of the oil and gas company’s stock valued at $3,300,532,000 after purchasing an additional 565,583 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Marathon Petroleum by 70.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,065,459 shares of the oil and gas company’s stock valued at $593,940,000 after buying an additional 4,153,879 shares during the period. Geode Capital Management LLC increased its stake in shares of Marathon Petroleum by 8.3% in the 4th quarter. Geode Capital Management LLC now owns 8,732,890 shares of the oil and gas company’s stock valued at $514,399,000 after buying an additional 671,836 shares during the period. Iridian Asset Management LLC CT increased its stake in shares of Marathon Petroleum by 7.0% in the 1st quarter. Iridian Asset Management LLC CT now owns 5,511,516 shares of the oil and gas company’s stock valued at $329,864,000 after buying an additional 361,000 shares during the period. Finally, LSV Asset Management increased its stake in shares of Marathon Petroleum by 4.3% in the 1st quarter. LSV Asset Management now owns 5,233,573 shares of the oil and gas company’s stock valued at $313,229,000 after buying an additional 216,163 shares during the period. Institutional investors own 76.94% of the company’s stock.
Shares of Marathon Petroleum stock opened at $47.15 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 0.63 and a debt-to-equity ratio of 0.69. Marathon Petroleum Corp has a 12 month low of $45.47 and a 12 month high of $88.45. The business’s fifty day moving average is $53.98. The firm has a market capitalization of $31.86 billion, a PE ratio of 6.95, a PEG ratio of 1.34 and a beta of 1.68.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.50%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 31.27%.
Several equities research analysts have recently commented on the company. ValuEngine raised Marathon Petroleum from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 22nd. Credit Suisse Group lowered their target price on Marathon Petroleum from $95.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, May 13th. Cowen cut Marathon Petroleum from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $90.00 to $65.00 in a research note on Friday, May 10th. Raymond James lifted their target price on Marathon Petroleum from $72.00 to $75.00 and gave the company a “strong-buy” rating in a research note on Friday, August 2nd. Finally, Morgan Stanley lowered their target price on Marathon Petroleum from $82.00 to $75.00 and set an “overweight” rating for the company in a research note on Friday, May 17th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. Marathon Petroleum has a consensus rating of “Buy” and an average price target of $82.62.
In related news, Director James E. Rohr acquired 12,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was acquired at an average cost of $48.14 per share, with a total value of $601,750.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.06% of the stock is owned by insiders.
Marathon Petroleum Company 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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