Lowe Brockenbrough & Co. Inc. boosted its stake in Marathon Petroleum Corp (NYSE:MPC) by 28.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,538 shares of the oil and gas company’s stock after purchasing an additional 6,060 shares during the quarter. Lowe Brockenbrough & Co. Inc.’s holdings in Marathon Petroleum were worth $1,625,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in MPC. Hanson McClain Inc. purchased a new stake in Marathon Petroleum in the fourth quarter valued at approximately $25,000. Certified Advisory Corp grew its stake in Marathon Petroleum by 71.2% during the fourth quarter. Certified Advisory Corp now owns 476 shares of the oil and gas company’s stock worth $28,000 after buying an additional 198 shares during the period. Kistler Tiffany Companies LLC purchased a new stake in Marathon Petroleum during the fourth quarter worth approximately $30,000. SeaBridge Investment Advisors LLC purchased a new stake in Marathon Petroleum during the fourth quarter worth approximately $30,000. Finally, Berman Capital Advisors LLC purchased a new stake in Marathon Petroleum during the fourth quarter worth approximately $30,000. Hedge funds and other institutional investors own 79.22% of the company’s stock.
MPC has been the subject of several research reports. Standpoint Research initiated coverage on shares of Marathon Petroleum in a research note on Wednesday, December 26th. They set an “accumulate” rating for the company. Piper Jaffray Companies reiterated an “overweight” rating on shares of Marathon Petroleum in a research note on Thursday, January 10th. Citigroup decreased their price objective on shares of Marathon Petroleum from $91.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, March 4th. Cowen reiterated a “buy” rating and set a $111.00 price objective on shares of Marathon Petroleum in a research note on Thursday, November 29th. Finally, ValuEngine upgraded shares of Marathon Petroleum from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $92.85.
Marathon Petroleum (NYSE:MPC) last announced its earnings results on Thursday, February 7th. The oil and gas company reported $2.41 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.43. The business had revenue of $32.54 billion during the quarter, compared to the consensus estimate of $34.16 billion. Marathon Petroleum had a net margin of 2.86% and a return on equity of 14.14%. The business’s quarterly revenue was up 53.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.05 earnings per share. Equities research analysts predict that Marathon Petroleum Corp will post 6.06 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Wednesday, February 20th were paid a $0.53 dividend. The ex-dividend date of this dividend was Tuesday, February 19th. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.46. This represents a $2.12 annualized dividend and a dividend yield of 3.47%. Marathon Petroleum’s dividend payout ratio is 31.27%.
In other news, CEO Gary R. Heminger sold 187,142 shares of the company’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $65.00, for a total value of $12,164,230.00. Following the completion of the transaction, the chief executive officer now directly owns 434,166 shares in the company, valued at $28,220,790. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.06% of the stock is currently owned by corporate insiders.
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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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