Henrickson Nauta Wealth Advisors Inc. reduced its holdings in Marathon Petroleum Corporation (NYSE:MPC – Free Report) by 46.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 4,438 shares of the oil and gas company’s stock after selling 3,881 shares during the period. Marathon Petroleum accounts for approximately 0.3% of Henrickson Nauta Wealth Advisors Inc.’s portfolio, making the stock its 28th largest position. Henrickson Nauta Wealth Advisors Inc.’s holdings in Marathon Petroleum were worth $1,084,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of MPC. Navalign LLC acquired a new position in Marathon Petroleum during the 4th quarter valued at $30,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Marathon Petroleum in the 4th quarter worth $31,000. Berbice Capital Management LLC grew its position in Marathon Petroleum by 100.0% in the 4th quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 100 shares during the last quarter. WFA of San Diego LLC bought a new stake in shares of Marathon Petroleum in the second quarter valued at about $33,000. Finally, Ares Financial Consulting LLC acquired a new stake in Marathon Petroleum during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 76.77% of the company’s stock.
Insider Buying and Selling
In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of Marathon Petroleum stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total value of $1,703,243.52. Following the transaction, the vice president owned 16,900 shares of the company’s stock, valued at approximately $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.17% of the company’s stock.
Marathon Petroleum Trading Up 0.1%
Marathon Petroleum (NYSE:MPC – Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.91. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The company had revenue of $34.20 billion during the quarter, compared to the consensus estimate of $33.42 billion. During the same period in the prior year, the company earned ($0.24) earnings per share. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. Equities research analysts predict that Marathon Petroleum Corporation will post 31.35 EPS for the current year.
Marathon Petroleum Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 1.6%. The ex-dividend date was Wednesday, May 20th. Marathon Petroleum’s dividend payout ratio (DPR) is 26.11%.
Analyst Ratings Changes
A number of research firms have recently issued reports on MPC. Barclays boosted their price objective on Marathon Petroleum from $230.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. upped their price target on Marathon Petroleum from $235.00 to $257.00 in a research report on Wednesday, May 6th. Scotiabank lifted their price target on shares of Marathon Petroleum from $174.00 to $210.00 and gave the company a “sector outperform” rating in a report on Wednesday, April 22nd. Weiss Ratings downgraded Marathon Petroleum from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Finally, Wells Fargo & Company restated an “overweight” rating and set a $344.00 target price on shares of Marathon Petroleum in a report on Monday, June 15th. Ten investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $272.94.
Check Out Our Latest Research Report on MPC
Marathon Petroleum Profile
Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.
Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.
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