Sullivan Bruyette Speros & Blaney LLC bought a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC) during the fourth quarter, Holdings Channel reports. The institutional investor bought 4,197 shares of the company’s stock, valued at approximately $211,000.
Several other hedge funds have also recently modified their holdings of the stock. Iridian Asset Management LLC CT bought a new position in Marathon Petroleum Corporation during the fourth quarter worth about $125,415,000. Artemis Investment Management LLP bought a new position in Marathon Petroleum Corporation during the fourth quarter worth about $4,538,000. Arthur M. Cohen & Associates LLC bought a new position in Marathon Petroleum Corporation during the fourth quarter worth about $222,000. Russell Investments Group Ltd. bought a new position in Marathon Petroleum Corporation during the fourth quarter worth about $33,001,000. Finally, First Bank & Trust bought a new position in Marathon Petroleum Corporation during the fourth quarter worth about $171,000. Institutional investors own 78.16% of the company’s stock.
Shares of Marathon Petroleum Corporation (NYSE:MPC) traded down 0.10% during midday trading on Monday, reaching $50.09. 1,633,331 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $49.45 and a 200-day moving average of $44.89. Marathon Petroleum Corporation has a one year low of $30.59 and a one year high of $54.59. The stock has a market cap of $26.45 billion, a price-to-earnings ratio of 22.67 and a beta of 1.74.
Marathon Petroleum Corporation (NYSE:MPC) last released its quarterly earnings results on Wednesday, February 1st. The company reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.17. The firm earned $17.28 billion during the quarter, compared to analysts’ expectations of $14.54 billion. Marathon Petroleum Corporation had a return on equity of 5.74% and a net margin of 1.85%. Marathon Petroleum Corporation’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.79 EPS. On average, equities research analysts anticipate that Marathon Petroleum Corporation will post $3.11 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 10th. Shareholders of record on Thursday, February 16th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date is Tuesday, February 14th. Marathon Petroleum Corporation’s dividend payout ratio is presently 65.16%.
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A number of equities analysts have issued reports on the company. Scotiabank reiterated a “hold” rating and set a $55.00 price target on shares of Marathon Petroleum Corporation in a research note on Monday, February 6th. Credit Suisse Group reiterated a “buy” rating and set a $63.00 price target on shares of Marathon Petroleum Corporation in a research note on Sunday, February 5th. Barclays PLC cut their price target on Marathon Petroleum Corporation from $68.00 to $62.00 and set an “overweight” rating for the company in a research note on Thursday, February 2nd. Jefferies Group LLC cut their price target on Marathon Petroleum Corporation from $62.00 to $61.00 and set a “buy” rating for the company in a research note on Monday, January 23rd. Finally, J P Morgan Chase & Co upgraded Marathon Petroleum Corporation from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $46.00 to $57.00 in a research note on Wednesday, December 7th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $55.63.
About Marathon Petroleum Corporation
Marathon Petroleum Corporation is engaged in petroleum product refining, marketing, retail and transportation businesses in the United States and the east of the Mississippi. The Company’s segments include Refining & Marketing, Speedway, and Midstream. Its Refining & Marketing segment refines crude oil and other feedstocks at its approximately seven refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products.
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