Victory Capital Management Inc. lifted its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 21.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 183,060 shares of the oil and gas company’s stock after buying an additional 32,002 shares during the period. Victory Capital Management Inc.’s holdings in Marathon Petroleum were worth $13,384,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in MPC. Municipal Employees Retirement System of Michigan raised its holdings in Marathon Petroleum by 35.8% during the fourth quarter. Municipal Employees Retirement System of Michigan now owns 24,820 shares of the oil and gas company’s stock worth $1,638,000 after purchasing an additional 6,540 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Marathon Petroleum by 3.2% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 975,944 shares of the oil and gas company’s stock worth $64,392,000 after purchasing an additional 30,353 shares in the last quarter. Globeflex Capital L P purchased a new position in Marathon Petroleum during the fourth quarter worth about $987,000. Amundi Pioneer Asset Management Inc. purchased a new position in Marathon Petroleum during the fourth quarter worth about $37,234,000. Finally, Financial Gravity Companies Inc. purchased a new position in Marathon Petroleum during the fourth quarter worth about $359,000. Institutional investors and hedge funds own 79.87% of the company’s stock.
In related news, insider Thomas M. Kelley sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $69.77, for a total transaction of $1,395,400.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Charles E. Bunch bought 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 6th. The shares were purchased at an average price of $67.38 per share, for a total transaction of $101,070.00. Following the transaction, the director now owns 12,853 shares of the company’s stock, valued at approximately $866,035.14. The disclosure for this purchase can be found here. 1.09% of the stock is currently owned by company insiders.
MPC has been the subject of several analyst reports. Morgan Stanley increased their price target on shares of Marathon Petroleum from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, April 16th. Royal Bank of Canada reissued a “buy” rating and set a $88.00 price target on shares of Marathon Petroleum in a report on Friday, April 20th. Barclays reissued a “buy” rating and set a $90.00 price target on shares of Marathon Petroleum in a report on Friday, February 16th. JPMorgan Chase cut their price target on shares of Marathon Petroleum from $90.00 to $86.00 and set an “overweight” rating for the company in a report on Monday, April 9th. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $90.00 price target on shares of Marathon Petroleum in a report on Friday, February 23rd. Six analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $83.63.
Shares of Marathon Petroleum opened at $79.53 on Monday, according to MarketBeat. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.73 and a quick ratio of 1.12. Marathon Petroleum Co. has a 1-year low of $49.30 and a 1-year high of $83.27. The company has a market cap of $36.73 billion, a PE ratio of 20.24, a price-to-earnings-growth ratio of 1.21 and a beta of 1.36.
Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, May 1st. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.07). Marathon Petroleum had a return on equity of 10.05% and a net margin of 4.45%. The firm had revenue of $18.98 billion for the quarter, compared to analyst estimates of $21.78 billion. During the same quarter last year, the business posted $0.06 EPS. The firm’s revenue was up 15.8% compared to the same quarter last year. sell-side analysts expect that Marathon Petroleum Co. will post 4.63 earnings per share for the current fiscal year.
The company also recently announced 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. The ex-dividend date of this dividend is Tuesday, May 15th. This represents a $1.84 dividend on an annualized basis and a yield of 2.31%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 48.42%.
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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