Crossmark Global Holdings Inc. Cuts Stake in Marathon Petroleum Corp (MPC)

Crossmark Global Holdings Inc. lessened its position in shares of Marathon Petroleum Corp (NYSE:MPC) by 9.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 54,530 shares of the oil and gas company’s stock after selling 5,377 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Marathon Petroleum were worth $3,598,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted 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 during the period. Prudential Financial Inc. lifted 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 during the period. LSV Asset Management lifted 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 during the period. APG Asset Management N.V. lifted 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 during the period. Finally, Third Point LLC acquired a new position in shares of Marathon Petroleum during the third quarter valued at $154,220,000. 80.78% of the stock is currently owned by institutional investors and hedge funds.

In other Marathon Petroleum news, VP C. Michael Palmer sold 17,298 shares of the stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $64.55, for a total value of $1,116,585.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Raymond L. Brooks sold 13,000 shares of the stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $62.26, for a total value of $809,380.00. Following the completion of the sale, the vice president now owns 32,205 shares of the company’s stock, valued at $2,005,083.30. The disclosure for this sale can be found here. Insiders sold 72,276 shares of company stock valued at $4,645,189 over the last 90 days. Corporate insiders own 1.05% of the company’s stock.

MPC has been the topic of several research reports. Zacks Investment Research raised Marathon Petroleum from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a research note on Monday, October 16th. Cowen reissued a “buy” rating on shares of Marathon Petroleum in a research note on Tuesday, November 14th. Citigroup increased their target price on Marathon Petroleum from $67.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, October 18th. Royal Bank of Canada reissued a “buy” rating and issued a $89.00 target price on shares of Marathon Petroleum in a research note on Tuesday, January 30th. Finally, Scotiabank reissued a “hold” rating and issued a $75.00 target price on shares of Marathon Petroleum in a research note on Wednesday, January 10th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $74.08.

Marathon Petroleum Corp (MPC) opened at $63.84 on Friday. Marathon Petroleum Corp has a one year low of $47.78 and a one year 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. The firm has a market capitalization of $31,700.00, a PE ratio of 19.95, a price-to-earnings-growth ratio of 0.90 and a beta of 1.50.

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, topping the consensus estimate of $1.00 by $0.05. Marathon Petroleum had a return on equity of 10.04% and a net margin of 4.60%. The company had revenue of $21.24 billion during the quarter, compared to the consensus estimate of $17.27 billion. During the same period in the prior year, the company earned $0.43 earnings per share. The company’s revenue for the quarter was up 22.9% compared to the same quarter last year. equities research analysts expect that Marathon Petroleum Corp will post 5.1 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Wednesday, February 21st will be issued a $0.46 dividend. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.40. This represents a $1.84 annualized dividend and a dividend yield of 2.88%. The ex-dividend date is Tuesday, February 20th. Marathon Petroleum’s dividend payout ratio is 50.00%.

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About Marathon Petroleum

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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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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