Heritage Way Advisors LLC lifted its holdings in Marathon Petroleum Corp (NYSE:MPC) by 96.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 72,000 shares of the oil and gas company’s stock after purchasing an additional 35,275 shares during the quarter. Marathon Petroleum accounts for approximately 1.8% of Heritage Way Advisors LLC’s investment portfolio, making the stock its 19th largest position. Heritage Way Advisors LLC’s holdings in Marathon Petroleum were worth $4,751,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the stock. Acadian Asset Management LLC purchased a new position in shares of Marathon Petroleum in the fourth quarter valued at $324,000. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Marathon Petroleum by 18.9% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 10,315 shares of the oil and gas company’s stock valued at $681,000 after purchasing an additional 1,642 shares in the last quarter. Koshinski Asset Management Inc. purchased a new position in shares of Marathon Petroleum in the fourth quarter valued at $299,000. City Holding Co. grew its holdings in shares of Marathon Petroleum by 10.6% in the fourth quarter. City Holding Co. now owns 14,898 shares of the oil and gas company’s stock valued at $983,000 after purchasing an additional 1,429 shares in the last quarter. Finally, Burke & Herbert Bank & Trust Co. purchased a new position in shares of Marathon Petroleum in the fourth quarter valued at $238,000. 80.61% of the stock is owned by hedge funds and other institutional investors.
In other news, VP Rodney P. Nichols sold 6,374 shares of Marathon Petroleum stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $64.93, for a total transaction of $413,863.82. Following the completion of the sale, the vice president now directly owns 74,674 shares in the company, valued at $4,848,582.82. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Thomas M. Kelley sold 35,604 shares of Marathon Petroleum stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $64.75, for a total value of $2,305,359.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 149,854 shares of company stock valued at $9,482,177. Corporate insiders own 1.05% of the company’s stock.
Shares of Marathon Petroleum Corp (MPC) traded up $1.20 on Thursday, reaching $71.98. The company had a trading volume of 3,489,700 shares, compared to its average volume of 3,317,700. Marathon Petroleum Corp has a 12 month low of $46.88 and a 12 month high of $72.48. The company has a market capitalization of $35,060.00, a P/E ratio of 22.49, a PEG ratio of 1.46 and a beta of 1.62. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.80 and a current ratio of 1.52.
Marathon Petroleum (NYSE:MPC) last released its earnings results on Thursday, October 26th. The oil and gas company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.29. Marathon Petroleum had a return on equity of 8.52% and a net margin of 2.35%. The business had revenue of $19.36 billion during the quarter, compared to the consensus estimate of $19.38 billion. During the same period last year, the company earned $0.58 earnings per share. The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. sell-side analysts anticipate that Marathon Petroleum Corp will post 3.76 EPS for the current year.
About Marathon Petroleum
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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