Clearstead Advisors LLC increased its holdings in shares of Marathon Petroleum Co. (NYSE:MPC – Get Rating) by 4.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,115 shares of the oil and gas company’s stock after buying an additional 121 shares during the quarter. Clearstead Advisors LLC’s holdings in Marathon Petroleum were worth $309,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its stake in Marathon Petroleum by 3.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 5,470,772 shares of the oil and gas company’s stock worth $543,405,000 after buying an additional 163,151 shares during the period. Royal Bank of Canada raised its stake in Marathon Petroleum by 1.1% during the 3rd quarter. Royal Bank of Canada now owns 3,934,897 shares of the oil and gas company’s stock worth $390,854,000 after buying an additional 42,273 shares during the period. Legal & General Group Plc raised its stake in Marathon Petroleum by 2.6% during the 2nd quarter. Legal & General Group Plc now owns 3,844,618 shares of the oil and gas company’s stock worth $316,065,000 after buying an additional 98,903 shares during the period. FMR LLC raised its stake in Marathon Petroleum by 11.1% during the 2nd quarter. FMR LLC now owns 3,355,493 shares of the oil and gas company’s stock worth $275,856,000 after buying an additional 335,015 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in Marathon Petroleum by 59.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,975,199 shares of the oil and gas company’s stock worth $244,591,000 after buying an additional 1,112,575 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.
Insider Buying and Selling
In related news, Director Kim K.W. Rucker sold 6,000 shares of Marathon Petroleum stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $130.00, for a total transaction of $780,000.00. Following the completion of the transaction, the director now owns 34,950 shares in the company, valued at $4,543,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.28% of the stock is currently owned by corporate insiders.
Marathon Petroleum Price Performance
Marathon Petroleum (NYSE:MPC – Get Rating) last posted its quarterly earnings results on Tuesday, January 31st. The oil and gas company reported $6.65 EPS for the quarter, topping analysts’ consensus estimates of $5.54 by $1.11. Marathon Petroleum had a return on equity of 41.55% and a net margin of 8.07%. The business had revenue of $39.82 billion during the quarter, compared to analysts’ expectations of $35.29 billion. During the same quarter last year, the company posted $1.30 earnings per share. Marathon Petroleum’s quarterly revenue was up 12.7% on a year-over-year basis. As a group, sell-side analysts predict that Marathon Petroleum Co. will post 18.96 earnings per share for the current fiscal year.
Marathon Petroleum Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Thursday, February 16th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend was Wednesday, February 15th. Marathon Petroleum’s payout ratio is currently 10.49%.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on MPC shares. Mizuho upgraded Marathon Petroleum from a “neutral” rating to a “buy” rating and increased their target price for the stock from $133.00 to $160.00 in a report on Friday, March 10th. Jefferies Financial Group upgraded Marathon Petroleum from a “hold” rating to a “buy” rating and increased their target price for the stock from $134.00 to $157.00 in a report on Friday, March 3rd. Wells Fargo & Company increased their target price on Marathon Petroleum from $133.00 to $153.00 and gave the stock an “overweight” rating in a report on Wednesday, February 1st. Cowen increased their target price on Marathon Petroleum from $133.00 to $143.00 and gave the stock an “outperform” rating in a report on Wednesday, February 1st. Finally, Raymond James increased their target price on Marathon Petroleum from $155.00 to $165.00 and gave the stock a “strong-buy” rating in a report on Wednesday, February 1st. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $138.63.
Marathon Petroleum Company Profile
Marathon Petroleum Corp. is an independent company, which engages in the refining, marketing, and transportation of petroleum products in the United States. It operates through the following segments: Refining and Marketing, and Midstream. The Refining and 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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