Claro Advisors LLC lifted its stake in Marathon Petroleum Co. (NYSE:MPC – Free Report) by 66.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,841 shares of the oil and gas company’s stock after buying an additional 1,131 shares during the period. Claro Advisors LLC’s holdings in Marathon Petroleum were worth $396,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the company. Dai ichi Life Insurance Company Ltd raised its stake in shares of Marathon Petroleum by 8.0% in the 2nd quarter. Dai ichi Life Insurance Company Ltd now owns 6,269 shares of the oil and gas company’s stock valued at $1,088,000 after buying an additional 467 shares in the last quarter. Brown Brothers Harriman & Co. raised its position in Marathon Petroleum by 378.9% in the second quarter. Brown Brothers Harriman & Co. now owns 3,338 shares of the oil and gas company’s stock worth $579,000 after purchasing an additional 2,641 shares in the last quarter. Citizens Financial Group Inc. RI boosted its holdings in Marathon Petroleum by 6.2% during the second quarter. Citizens Financial Group Inc. RI now owns 18,386 shares of the oil and gas company’s stock valued at $3,190,000 after purchasing an additional 1,074 shares in the last quarter. Edgestream Partners L.P. grew its stake in shares of Marathon Petroleum by 271.7% in the 2nd quarter. Edgestream Partners L.P. now owns 15,686 shares of the oil and gas company’s stock valued at $2,721,000 after purchasing an additional 11,466 shares during the period. Finally, Madison Wealth Partners Inc raised its holdings in shares of Marathon Petroleum by 30.4% in the 2nd quarter. Madison Wealth Partners Inc now owns 1,384 shares of the oil and gas company’s stock worth $240,000 after buying an additional 323 shares in the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Marathon Petroleum
In related news, Director Jeffrey C. Campbell bought 6,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were purchased at an average price of $149.61 per share, with a total value of $897,660.00. Following the completion of the purchase, the director now owns 6,090 shares of the company’s stock, valued at $911,124.90. This represents a 6,666.67 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.21% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Check Out Our Latest Stock Analysis on Marathon Petroleum
Marathon Petroleum Price Performance
Marathon Petroleum stock opened at $149.54 on Wednesday. The stock has a market cap of $48.06 billion, a price-to-earnings ratio of 11.85, a P/E/G ratio of 2.56 and a beta of 1.42. Marathon Petroleum Co. has a 12-month low of $130.54 and a 12-month high of $221.11. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. The business’s 50-day simple moving average is $147.88 and its 200 day simple moving average is $159.57.
Marathon Petroleum (NYSE:MPC – Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 EPS for the quarter, topping the consensus estimate of $0.97 by $0.90. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The company had revenue of $35.37 billion during the quarter, compared to analysts’ expectations of $34.34 billion. During the same quarter in the previous year, the company earned $8.14 EPS. Marathon Petroleum’s revenue was down 14.9% on a year-over-year basis. As a group, research analysts anticipate that Marathon Petroleum Co. will post 9.47 earnings per share for the current year.
Marathon Petroleum announced that its Board of Directors has authorized a share repurchase plan on Tuesday, November 5th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to purchase up to 10% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.
Marathon Petroleum Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th were paid a $0.91 dividend. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.43%. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s dividend payout ratio is 28.84%.
Marathon Petroleum Profile
Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.
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