Stephens Inc. AR boosted its holdings in Marathon Petroleum Corp (NYSE:MPC) by 23.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 88,038 shares of the oil and gas company’s stock after acquiring an additional 16,726 shares during the period. Stephens Inc. AR’s holdings in Marathon Petroleum were worth $5,809,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also added to or reduced their stakes in the company. Cerebellum GP LLC acquired a new position in Marathon Petroleum in the fourth quarter worth $121,000. Crow Point Partners LLC acquired a new position in Marathon Petroleum in the third quarter worth $128,000. Kohmann Bosshard Financial Services LLC acquired a new position in Marathon Petroleum in the third quarter worth $135,000. BB&T Investment Services Inc. boosted its holdings in Marathon Petroleum by 118.2% in the third quarter. BB&T Investment Services Inc. now owns 3,063 shares of the oil and gas company’s stock worth $178,000 after purchasing an additional 1,659 shares during the period. Finally, Cable Hill Partners LLC boosted its holdings in Marathon Petroleum by 886.1% in the third quarter. Cable Hill Partners LLC now owns 3,254 shares of the oil and gas company’s stock worth $182,000 after purchasing an additional 2,924 shares during the period. 80.78% of the stock is owned by hedge funds and other institutional investors.
In related news, VP Rodney P. Nichols sold 6,374 shares of Marathon Petroleum stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $64.93, for a total transaction of $413,863.82. Following the sale, the vice president now directly owns 74,674 shares in the company, valued at $4,848,582.82. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Thomas M. Kelley sold 35,604 shares of Marathon Petroleum stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $64.75, for a total transaction of $2,305,359.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,276 shares of company stock worth $4,645,189. Company insiders own 1.05% of the company’s stock.
Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Thursday, February 1st. The oil and gas company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.05. Marathon Petroleum had a net margin of 4.60% and a return on equity of 10.04%. The company had revenue of $21.24 billion during the quarter, compared to the consensus estimate of $17.27 billion. During the same quarter in the previous year, the company posted $0.43 earnings per share. The company’s revenue for the quarter was up 22.9% compared to the same quarter last year. sell-side analysts expect that Marathon Petroleum Corp will post 4.91 EPS for the current year.
The business 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 dividend of $0.46 per share. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.40. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date is Tuesday, February 20th. Marathon Petroleum’s payout ratio is currently 23.12%.
A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of Marathon Petroleum from a “hold” rating to a “strong-buy” rating and set a $81.00 price objective for the company in a report on Tuesday, January 16th. Royal Bank of Canada reissued a “buy” rating and set a $89.00 price target on shares of Marathon Petroleum in a report on Tuesday, January 30th. Scotiabank reissued a “hold” rating and set a $75.00 price target on shares of Marathon Petroleum in a report on Wednesday, January 10th. ValuEngine raised shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a report on Friday, February 2nd. Finally, Citigroup reissued a “buy” rating and set a $79.00 price target on shares of Marathon Petroleum in a report on Friday, February 2nd. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $74.08.
COPYRIGHT VIOLATION NOTICE: “Stephens Inc. AR Grows Holdings in Marathon Petroleum Corp (MPC)” was first published by Community Financial News and is owned by of Community Financial News. If you are reading this news story on another domain, it was copied illegally and republished in violation of US and international copyright law. The legal version of this news story can be accessed at https://www.com-unik.info/2018/02/07/stephens-inc-ar-grows-holdings-in-marathon-petroleum-corp-mpc.html.
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.
Want to see what other hedge funds are holding MPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Petroleum Corp (NYSE:MPC).
Receive News & Ratings for Marathon Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marathon Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.