Ronald Blue Trust Inc. raised its position in shares of Marathon Petroleum Co. (NYSE:MPC – Get Rating) by 38.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,297 shares of the oil and gas company’s stock after purchasing an additional 639 shares during the period. Ronald Blue Trust Inc.’s holdings in Marathon Petroleum were worth $228,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently made changes to their positions in MPC. Dimensional Fund Advisors LP raised its position in shares of Marathon Petroleum by 3.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 5,470,772 shares of the oil and gas company’s stock worth $543,405,000 after acquiring an additional 163,151 shares in the last quarter. Royal Bank of Canada lifted its position in Marathon Petroleum by 1.1% during the third quarter. Royal Bank of Canada now owns 3,934,897 shares of the oil and gas company’s stock valued at $390,854,000 after purchasing an additional 42,273 shares during the period. Legal & General Group Plc boosted its stake in shares of Marathon Petroleum by 2.6% in the second quarter. Legal & General Group Plc now owns 3,844,618 shares of the oil and gas company’s stock worth $316,065,000 after buying an additional 98,903 shares during the last quarter. FMR LLC boosted its position in Marathon Petroleum by 11.1% in the 2nd quarter. FMR LLC now owns 3,355,493 shares of the oil and gas company’s stock worth $275,856,000 after purchasing an additional 335,015 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Marathon Petroleum by 59.7% during the second quarter. Goldman Sachs Group Inc. now owns 2,975,199 shares of the oil and gas company’s stock valued at $244,591,000 after buying an additional 1,112,575 shares during the period. 76.48% of the stock is currently owned by institutional investors.
Insider Transactions at Marathon Petroleum
In related news, Director Kim K.W. Rucker sold 6,000 shares of the business’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $130.00, for a total value of $780,000.00. Following the transaction, the director now owns 34,950 shares in the company, valued at approximately $4,543,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.28% of the company’s stock.
Marathon Petroleum Stock Performance
Marathon Petroleum (NYSE:MPC – Get Rating) last announced its quarterly earnings results on Tuesday, January 31st. The oil and gas company reported $6.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.54 by $1.11. The firm had revenue of $39.82 billion during the quarter, compared to the consensus estimate of $35.29 billion. Marathon Petroleum had a return on equity of 41.55% and a net margin of 8.07%. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.30 earnings per share. On average, analysts predict that Marathon Petroleum Co. will post 19.88 earnings per share for the current fiscal year.
Marathon Petroleum Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Thursday, February 16th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Wednesday, February 15th. This represents a $3.00 dividend on an annualized basis and a yield of 2.41%. Marathon Petroleum’s dividend payout ratio is presently 10.49%.
Analyst Ratings Changes
Several equities research analysts have commented on MPC shares. StockNews.com assumed coverage on Marathon Petroleum in a research note on Thursday, March 16th. They set a “strong-buy” rating for the company. Morgan Stanley lifted their target price on Marathon Petroleum from $125.00 to $140.00 and gave the company an “overweight” rating in a research report on Friday, January 20th. Raymond James upped their price objective on shares of Marathon Petroleum from $155.00 to $165.00 and gave the stock a “strong-buy” rating in a report on Wednesday, February 1st. UBS Group started coverage on shares of Marathon Petroleum in a research report on Wednesday, March 8th. They set a “buy” rating and a $165.00 price objective for the company. Finally, Mizuho raised Marathon Petroleum from a “neutral” rating to a “buy” rating and boosted their target price for the company from $133.00 to $160.00 in a research report on Friday, March 10th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Marathon Petroleum presently has a consensus rating of “Buy” and a consensus target price of $138.63.
Marathon Petroleum Company Profile
Marathon Petroleum Corp. is an independent company, which engages in the refining, marketing, and transportation of petroleum products in the United States. It operates through the following segments: Refining and Marketing, and Midstream. The Refining and Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals, and trucks that the company owns or operates.
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