Norinchukin Bank The grew its stake in Marathon Petroleum Corp (NYSE:MPC) by 31.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 50,622 shares of the oil and gas company’s stock after buying an additional 12,120 shares during the period. Norinchukin Bank The’s holdings in Marathon Petroleum were worth $3,340,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Zeke Capital Advisors LLC increased its position in shares of Marathon Petroleum by 30.3% in the 3rd quarter. Zeke Capital Advisors LLC now owns 8,891 shares of the oil and gas company’s stock valued at $499,000 after buying an additional 2,069 shares in the last quarter. Vaughan David Investments Inc. IL increased its position in shares of Marathon Petroleum by 12,827.2% in the 3rd quarter. Vaughan David Investments Inc. IL now owns 607,579 shares of the oil and gas company’s stock valued at $9,405,000 after buying an additional 602,879 shares in the last quarter. APG Asset Management N.V. increased its position in shares of Marathon Petroleum by 14.0% in the 3rd quarter. APG Asset Management N.V. now owns 2,961,791 shares of the oil and gas company’s stock valued at $166,097,000 after buying an additional 362,600 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Marathon Petroleum by 29.9% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 414,303 shares of the oil and gas company’s stock valued at $23,234,000 after buying an additional 95,386 shares in the last quarter. Finally, Eagle Ridge Investment Management bought a new stake in shares of Marathon Petroleum in the 3rd quarter valued at $896,000. 80.66% of the stock is currently owned by institutional investors.
A number of analysts recently commented on the stock. Goldman Sachs Group upgraded shares of Marathon Petroleum from a “neutral” rating to a “buy” rating in a research report on Tuesday, February 13th. Barclays restated a “buy” rating and issued a $90.00 price objective on shares of Marathon Petroleum in a research report on Friday, February 16th. Citigroup restated a “buy” rating and issued a $79.00 price objective on shares of Marathon Petroleum in a research report on Friday, February 2nd. Cowen restated an “outperform” rating and issued a $90.00 price objective (up previously from $76.00) on shares of Marathon Petroleum in a research report on Thursday, February 1st. Finally, Scotiabank reiterated a “hold” rating and set a $75.00 target price on shares of Marathon Petroleum in a report on Wednesday, January 10th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. Marathon Petroleum has a consensus rating of “Buy” and a consensus target price of $75.25.
Marathon Petroleum (NYSE:MPC) last released its earnings results on Thursday, February 1st. The oil and gas company reported $1.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.05. The firm had revenue of $21.24 billion during the quarter, compared to analysts’ expectations of $17.27 billion. Marathon Petroleum had a return on equity of 10.04% and a net margin of 4.60%. The company’s revenue was up 22.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.43 EPS. equities analysts forecast that Marathon Petroleum Corp will post 5.05 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Wednesday, February 21st will be issued a $0.46 dividend. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $1.84 annualized dividend and a dividend yield of 2.78%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 23.12%.
In other news, VP Rodney P. Nichols sold 6,374 shares of the firm’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $64.93, for a total value of $413,863.82. Following the completion of the transaction, the vice president now owns 74,674 shares in the company, valued at approximately $4,848,582.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas M. Kelley sold 35,604 shares of the firm’s stock in a transaction dated Thursday, December 14th. The shares were 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. Insiders sold a total of 59,276 shares of company stock valued at $3,835,809 in the last 90 days. 1.05% of the stock is owned by corporate insiders.
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Marathon Petroleum Profile
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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