Tredje AP fonden lowered its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 30.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 51,950 shares of the oil and gas company’s stock after selling 22,800 shares during the quarter. Tredje AP fonden’s holdings in Marathon Petroleum were worth $2,913,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. Blue Chip Partners Inc. bought a new position in shares of Marathon Petroleum in the 2nd quarter valued at about $100,000. Crow Point Partners LLC bought a new position in shares of Marathon Petroleum in the 3rd quarter valued at about $128,000. First Interstate Bank boosted its stake in shares of Marathon Petroleum by 81.1% in the 2nd quarter. First Interstate Bank now owns 2,376 shares of the oil and gas company’s stock valued at $124,000 after purchasing an additional 1,064 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in shares of Marathon Petroleum in the 3rd quarter valued at about $135,000. Finally, ClariVest Asset Management LLC bought a new position in shares of Marathon Petroleum in the 2nd quarter valued at about $143,000. 80.83% of the stock is currently owned by hedge funds and other institutional investors.
In other news, VP Raymond L. Brooks sold 13,000 shares of Marathon Petroleum stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $62.26, for a total value of $809,380.00. Following the sale, the vice president now directly owns 32,205 shares in the company, valued at $2,005,083.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anthony R. Kenney sold 77,578 shares of Marathon Petroleum stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $62.35, for a total transaction of $4,836,988.30. The disclosure for this sale can be found here. Insiders sold 102,028 shares of company stock worth $6,253,447 over the last quarter. 1.05% of the stock is owned by corporate insiders.
Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Thursday, October 26th. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.48 by $0.29. Marathon Petroleum had a net margin of 2.35% and a return on equity of 8.52%. The company had revenue of $19.36 billion for 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 firm’s revenue was up 17.6% compared to the same quarter last year. sell-side analysts predict that Marathon Petroleum Corporation will post 3.8 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Thursday, November 16th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.53%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 49.08%.
A number of analysts recently weighed in on the stock. Cowen reiterated a “buy” rating and issued a $60.00 price target on shares of Marathon Petroleum in a research report on Tuesday, October 17th. BidaskClub upgraded shares of Marathon Petroleum from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Scotiabank reiterated a “hold” rating and issued a $55.00 price target on shares of Marathon Petroleum in a research report on Friday, September 1st. Zacks Investment Research downgraded shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Wednesday, November 22nd. Finally, Citigroup increased their price target on shares of Marathon Petroleum from $67.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, October 18th. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Marathon Petroleum presently has a consensus rating of “Buy” and a consensus price target of $65.54.
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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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