Natixis Advisors L.P. increased its holdings in shares of Marathon Petroleum Corp (NYSE:MPC) by 9.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 170,563 shares of the oil and gas company’s stock after buying an additional 15,108 shares during the quarter. Natixis Advisors L.P.’s holdings in Marathon Petroleum were worth $12,470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also made changes to their positions in the company. Advisors Preferred LLC purchased a new position in Marathon Petroleum during the 1st quarter worth $101,000. Captrust Financial Advisors purchased a new position in Marathon Petroleum during the 4th quarter worth $105,000. Bedel Financial Consulting Inc. purchased a new position in Marathon Petroleum during the 1st quarter worth $106,000. Truewealth LLC purchased a new position in Marathon Petroleum during the 4th quarter worth $114,000. Finally, American Beacon Advisors Inc. purchased a new position in Marathon Petroleum during the 4th quarter worth $116,000. Hedge funds and other institutional investors own 79.87% of the company’s stock.
In other news, insider Thomas M. Kelley sold 20,000 shares of the company’s stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $69.77, for a total value of $1,395,400.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Charles E. Bunch bought 1,500 shares of the stock in a transaction dated Tuesday, March 6th. The stock was bought at an average price of $67.38 per share, for a total transaction of $101,070.00. Following the purchase, the director now directly owns 12,853 shares of the company’s stock, valued at $866,035.14. The disclosure for this purchase can be found here. 1.09% of the stock is owned by corporate insiders.
Marathon Petroleum opened at $77.00 on Friday, Marketbeat.com reports. The company has a current ratio of 1.73, a quick ratio of 1.12 and a debt-to-equity ratio of 0.91. The stock has a market cap of $36.54 billion, a price-to-earnings ratio of 20.26, a PEG ratio of 1.19 and a beta of 1.36. Marathon Petroleum Corp has a fifty-two week low of $49.30 and a fifty-two week high of $83.27.
Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, May 1st. The oil and gas company reported $0.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.07). The firm had revenue of $18.98 billion for the quarter, compared to analysts’ expectations of $21.78 billion. Marathon Petroleum had a net margin of 4.45% and a return on equity of 10.05%. The firm’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.06 EPS. research analysts forecast that Marathon Petroleum Corp will post 4.66 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 11th. Stockholders of record on Wednesday, May 16th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Tuesday, May 15th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.39%. Marathon Petroleum’s payout ratio is 48.42%.
Several brokerages recently weighed in on MPC. Tudor Pickering downgraded Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, May 18th. Bank of America upgraded Marathon Petroleum from a “neutral” rating to a “buy” rating and set a $88.00 target price on the stock in a research note on Thursday, May 10th. Jefferies Group upgraded Marathon Petroleum from a “hold” rating to a “buy” rating and boosted their target price for the stock from $75.00 to $95.00 in a research note on Thursday, May 3rd. Royal Bank of Canada downgraded Marathon Petroleum from a “top pick” rating to an “outperform” rating in a research note on Wednesday, May 2nd. Finally, Wells Fargo & Co restated a “market perform” rating and set a $80.00 target price (up from $73.00) on shares of Marathon Petroleum in a research note on Tuesday, May 1st. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Marathon Petroleum currently has a consensus rating of “Buy” and an average target price of $83.63.
About Marathon Petroleum
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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