Price Wealth Management Inc. raised its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 391.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,670 shares of the oil and gas company’s stock after purchasing an additional 1,330 shares during the quarter. Price Wealth Management Inc.’s holdings in Marathon Petroleum were worth $122,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently bought and sold shares of the company. D.A. Davidson & CO. lifted its stake in Marathon Petroleum by 4.3% during the 1st quarter. D.A. Davidson & CO. now owns 16,622 shares of the oil and gas company’s stock valued at $1,215,000 after acquiring an additional 688 shares during the period. Busey Trust CO increased its holdings in shares of Marathon Petroleum by 23.8% during the 1st quarter. Busey Trust CO now owns 4,096 shares of the oil and gas company’s stock valued at $300,000 after purchasing an additional 787 shares in the last quarter. Cetera Advisor Networks LLC increased its holdings in shares of Marathon Petroleum by 21.0% during the 4th quarter. Cetera Advisor Networks LLC now owns 4,568 shares of the oil and gas company’s stock valued at $303,000 after purchasing an additional 794 shares in the last quarter. Advisory Services Network LLC increased its holdings in shares of Marathon Petroleum by 14.8% during the 4th quarter. Advisory Services Network LLC now owns 6,216 shares of the oil and gas company’s stock valued at $410,000 after purchasing an additional 803 shares in the last quarter. Finally, Assetmark Inc. increased its holdings in shares of Marathon Petroleum by 13.9% during the 4th quarter. Assetmark Inc. now owns 6,674 shares of the oil and gas company’s stock valued at $440,000 after purchasing an additional 815 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors.
In related news, insider Thomas M. Kelley sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $69.77, for a total transaction of $1,395,400.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Charles E. Bunch acquired 1,500 shares of the company’s stock in a transaction on Tuesday, March 6th. The shares were acquired at an average price of $67.38 per share, for a total transaction of $101,070.00. Following the completion of the acquisition, the director now directly owns 12,853 shares in the company, valued at $866,035.14. The disclosure for this purchase can be found here. Insiders own 1.09% of the company’s stock.
Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, May 1st. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.07). The business had revenue of $18.98 billion during the quarter, compared to analyst estimates of $21.78 billion. Marathon Petroleum had a return on equity of 10.05% and a net margin of 4.45%. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.06 earnings per share. equities analysts predict that Marathon Petroleum Co. will post 4.59 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 11th. Investors of record on Wednesday, May 16th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 2.30%. The ex-dividend date is Tuesday, May 15th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 48.42%.
Several equities research analysts recently commented on the stock. Bank of America boosted their price target on shares of Marathon Petroleum from $80.00 to $88.00 and gave the stock a “neutral” rating in a report on Tuesday, May 1st. Tudor Pickering cut shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Friday. Wells Fargo reaffirmed a “market perform” rating and issued a $80.00 target price (up previously from $73.00) on shares of Marathon Petroleum in a research report on Tuesday, May 1st. Jefferies Group raised shares of Marathon Petroleum from a “hold” rating to a “buy” rating and upped their target price for the company from $75.00 to $95.00 in a research report on Thursday, May 3rd. Finally, Cowen reiterated an “outperform” rating and set a $90.00 price target (up from $76.00) on shares of Marathon Petroleum in a research note on Thursday, February 1st. Six investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Marathon Petroleum presently has a consensus rating of “Buy” and an average price target of $83.63.
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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