Laffer Investments raised its holdings in Marathon Petroleum Corp (NYSE:MPC) by 90.0% in the 4th quarter, Holdings Channel reports. The fund owned 70,071 shares of the oil and gas company’s stock after acquiring an additional 33,192 shares during the period. Marathon Petroleum makes up 1.2% of Laffer Investments’ investment portfolio, making the stock its 7th largest position. Laffer Investments’ holdings in Marathon Petroleum were worth $4,135,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also modified their holdings of the business. BlackRock Inc. boosted its position in Marathon Petroleum by 36.6% in the fourth quarter. BlackRock Inc. now owns 54,581,132 shares of the oil and gas company’s stock valued at $3,220,832,000 after buying an additional 14,619,755 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Marathon Petroleum by 0.7% during the third quarter. Vanguard Group Inc. now owns 35,373,004 shares of the oil and gas company’s stock worth $2,828,779,000 after buying an additional 255,599 shares during the last quarter. Vanguard Group Inc raised its stake in shares of Marathon Petroleum by 0.7% during the third quarter. Vanguard Group Inc now owns 35,373,004 shares of the oil and gas company’s stock worth $2,828,779,000 after buying an additional 255,599 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of Marathon Petroleum by 9,095.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 14,042,197 shares of the oil and gas company’s stock worth $238,000 after buying an additional 13,889,489 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Marathon Petroleum by 42.6% during the fourth quarter. Bank of New York Mellon Corp now owns 12,418,710 shares of the oil and gas company’s stock worth $732,828,000 after buying an additional 3,708,740 shares during the last quarter. Institutional investors own 79.22% of the company’s stock.
A number of equities research analysts recently weighed in on MPC shares. ValuEngine downgraded shares of Marathon Petroleum from a “hold” rating to a “sell” rating in a research note on Tuesday, March 5th. Cowen reissued an “outperform” rating and set a $101.00 price target (up from $87.00) on shares of Marathon Petroleum in a research note on Thursday, December 6th. They noted that the move was a valuation call. Citigroup dropped their price target on shares of Marathon Petroleum from $104.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, December 6th. Standpoint Research started coverage on shares of Marathon Petroleum in a research note on Wednesday, December 26th. They set an “accumulate” rating for the company. Finally, Piper Jaffray Companies reissued an “overweight” rating on shares of Marathon Petroleum in a research note on Thursday, January 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $92.85.
NYSE MPC traded down $0.61 during trading on Monday, reaching $60.69. 52,261 shares of the stock traded hands, compared to its average volume of 6,477,127. The stock has a market cap of $41.29 billion, a P/E ratio of 8.95, a P/E/G ratio of 0.67 and a beta of 1.38. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.62 and a current ratio of 1.36. Marathon Petroleum Corp has a fifty-two week low of $54.29 and a fifty-two week high of $88.45.
Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Thursday, February 7th. The oil and gas company reported $2.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.98 by $0.43. The firm had revenue of $32.54 billion during the quarter, compared to analysts’ expectations of $34.16 billion. Marathon Petroleum had a net margin of 2.86% and a return on equity of 14.14%. The business’s revenue for the quarter was up 53.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.05 earnings per share. Analysts predict that Marathon Petroleum Corp will post 6.06 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Wednesday, February 20th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Tuesday, February 19th. This represents a $2.12 dividend on an annualized basis and a yield of 3.49%. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.46. Marathon Petroleum’s payout ratio is currently 31.27%.
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Marathon Petroleum 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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