Sawgrass Asset Management LLC lessened its holdings in shares of Marathon Petroleum Corp (NYSE:MPC) by 8.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 38,534 shares of the oil and gas company’s stock after selling 3,740 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Marathon Petroleum were worth $2,542,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in shares of Marathon Petroleum by 0.6% during the third quarter. Dimensional Fund Advisors LP now owns 6,103,034 shares of the oil and gas company’s stock valued at $342,221,000 after acquiring an additional 35,033 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Marathon Petroleum by 9.9% during the fourth quarter. Bank of New York Mellon Corp now owns 5,209,413 shares of the oil and gas company’s stock valued at $343,716,000 after acquiring an additional 470,220 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of Marathon Petroleum by 61.6% during the third quarter. Prudential Financial Inc. now owns 3,987,706 shares of the oil and gas company’s stock valued at $223,630,000 after acquiring an additional 1,520,471 shares in the last quarter. LSV Asset Management raised its stake in shares of Marathon Petroleum by 10.7% during the fourth quarter. LSV Asset Management now owns 3,485,024 shares of the oil and gas company’s stock valued at $229,941,000 after acquiring an additional 335,930 shares in the last quarter. Finally, APG Asset Management N.V. raised its stake in shares of Marathon Petroleum by 10.2% during the fourth quarter. APG Asset Management N.V. now owns 3,263,117 shares of the oil and gas company’s stock valued at $179,298,000 after acquiring an additional 301,326 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.
Several research firms have recently weighed in on MPC. Cowen reaffirmed an “outperform” rating and set a $90.00 price target (up previously from $76.00) on shares of Marathon Petroleum in a research note on Thursday, February 1st. Scotiabank reaffirmed a “hold” rating and set a $75.00 price target on shares of Marathon Petroleum in a research note on Wednesday, January 10th. Royal Bank of Canada reaffirmed a “buy” rating and set a $89.00 price target on shares of Marathon Petroleum in a research note on Tuesday, January 30th. Barclays lifted their price target on shares of Marathon Petroleum from $63.00 to $76.00 and gave the company an “overweight” rating in a research note on Tuesday, November 14th. Finally, Zacks Investment Research raised shares of Marathon Petroleum from a “hold” rating to a “strong-buy” rating and set a $81.00 price target for the company in a research note on Tuesday, January 16th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $75.25.
In related news, insider Thomas M. Kelley sold 35,604 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $64.75, for a total value of $2,305,359.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Rodney P. Nichols sold 6,374 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 74,674 shares of the company’s stock, valued at approximately $4,848,582.82. The disclosure for this sale can be found here. Insiders sold 59,276 shares of company stock valued at $3,835,809 in the last three months. 1.05% of the stock is currently owned by insiders.
Marathon Petroleum Corp (NYSE MPC) opened at $66.25 on Wednesday. The company has a market cap of $33,013.98, a P/E ratio of 17.37, a P/E/G ratio of 0.95 and a beta of 1.49. Marathon Petroleum Corp has a 12 month low of $47.78 and a 12 month high of $73.53. The company has a quick ratio of 0.80, a current ratio of 1.52 and a debt-to-equity ratio of 0.64.
Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Thursday, February 1st. The oil and gas company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.05. The company had revenue of $21.24 billion during the quarter, compared to the consensus estimate of $17.27 billion. Marathon Petroleum had a net margin of 4.60% and a return on equity of 10.04%. Marathon Petroleum’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.43 earnings per share. analysts forecast that Marathon Petroleum Corp will post 5.05 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Wednesday, February 21st will be paid a $0.46 dividend. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.40. The ex-dividend date is Tuesday, February 20th. This represents a $1.84 dividend on an annualized basis and a yield of 2.78%. Marathon Petroleum’s payout ratio is 23.12%.
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Marathon Petroleum Company 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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