Millennium Management LLC boosted its holdings in Marathon Petroleum Corp (NYSE:MPC) by 24.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,209,211 shares of the oil and gas company’s stock after acquiring an additional 1,019,354 shares during the quarter. Marathon Petroleum accounts for about 0.5% of Millennium Management LLC’s investment portfolio, making the stock its 6th biggest position. Millennium Management LLC owned about 1.07% of Marathon Petroleum worth $343,704,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Sciencast Management LP increased its stake in Marathon Petroleum by 32.1% in the fourth quarter. Sciencast Management LP now owns 7,881 shares of the oil and gas company’s stock valued at $575,000 after acquiring an additional 1,914 shares during the period. Flinton Capital Management LLC increased its stake in Marathon Petroleum by 84.6% in the fourth quarter. Flinton Capital Management LLC now owns 242,144 shares of the oil and gas company’s stock valued at $15,977,000 after acquiring an additional 110,992 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its stake in Marathon Petroleum by 8.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 37,482 shares of the oil and gas company’s stock valued at $2,475,000 after acquiring an additional 2,875 shares during the period. Cornerstone Capital Management Holdings LLC. increased its stake in Marathon Petroleum by 0.7% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 830,071 shares of the oil and gas company’s stock valued at $54,767,000 after acquiring an additional 5,884 shares during the period. Finally, Elkfork Partners LLC bought a new stake in Marathon Petroleum in the fourth quarter valued at about $12,553,000. 80.38% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP Rodney P. Nichols sold 6,374 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $64.93, for a total transaction of $413,863.82. Following the transaction, the vice president now directly owns 74,674 shares in the company, valued at $4,848,582.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas M. Kelley sold 35,604 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $64.75, for a total transaction of $2,305,359.00. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by corporate insiders.
A number of analysts recently weighed in on MPC shares. Barclays reissued a “buy” rating and issued a $90.00 target price on shares of Marathon Petroleum in a research note on Friday, February 16th. ValuEngine raised shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. Credit Suisse Group reaffirmed an “outperform” rating and set a $89.00 price objective on shares of Marathon Petroleum in a research note on Wednesday, March 7th. Zacks Investment Research cut shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Wednesday, November 22nd. Finally, Cowen reaffirmed a “buy” rating on shares of Marathon Petroleum in a research note on Tuesday, November 14th. Six 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. The stock currently has a consensus rating of “Buy” and a consensus price target of $79.08.
Marathon Petroleum Corp (NYSE MPC) opened at $69.24 on Wednesday. Marathon Petroleum Corp has a 12-month low of $47.78 and a 12-month high of $73.53. The stock has a market cap of $32,976.66, a P/E ratio of 10.01, a PEG ratio of 0.99 and a beta of 1.49. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.75 and a current ratio of 1.28.
Marathon Petroleum (NYSE:MPC) last announced its earnings results on Thursday, February 1st. The oil and gas company reported $1.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.05. Marathon Petroleum had a net margin of 4.60% and a return on equity of 9.90%. The company had revenue of $21.24 billion for the quarter, compared to analyst estimates of $17.27 billion. During the same period in the prior year, the business earned $0.43 earnings per share. Marathon Petroleum’s quarterly revenue was up 22.9% on a year-over-year basis. research analysts anticipate that Marathon Petroleum Corp will post 4.91 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, March 12th. Stockholders of record on Wednesday, February 21st were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.66%. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Tuesday, February 20th. Marathon Petroleum’s dividend payout ratio is presently 26.59%.
Marathon Petroleum Company Profile
Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.
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