Sunbelt Securities Inc. lifted its stake in shares of Marathon Petroleum Co. (NYSE:MPC – Free Report) by 2.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,252 shares of the oil and gas company’s stock after acquiring an additional 360 shares during the quarter. Sunbelt Securities Inc.’s holdings in Marathon Petroleum were worth $2,311,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Acadian Asset Management LLC raised its holdings in Marathon Petroleum by 19.4% during the first quarter. Acadian Asset Management LLC now owns 5,603 shares of the oil and gas company’s stock valued at $479,000 after acquiring an additional 910 shares during the period. Cibc World Market Inc. purchased a new position in Marathon Petroleum in the 1st quarter worth approximately $282,000. Vontobel Holding Ltd. boosted its stake in Marathon Petroleum by 1.6% in the 1st quarter. Vontobel Holding Ltd. now owns 18,559 shares of the oil and gas company’s stock worth $1,584,000 after purchasing an additional 293 shares during the period. Sei Investments Co. grew its holdings in Marathon Petroleum by 25.1% during the 1st quarter. Sei Investments Co. now owns 90,916 shares of the oil and gas company’s stock valued at $7,800,000 after buying an additional 18,230 shares in the last quarter. Finally, Moors & Cabot Inc. raised its position in shares of Marathon Petroleum by 11.0% during the first quarter. Moors & Cabot Inc. now owns 9,438 shares of the oil and gas company’s stock valued at $807,000 after buying an additional 937 shares during the last quarter. 74.93% of the stock is currently owned by institutional investors.
Marathon Petroleum Trading Up 1.1 %
Shares of MPC opened at $155.83 on Wednesday. The company’s fifty day simple moving average is $136.26 and its 200-day simple moving average is $125.46. The company has a market cap of $62.31 billion, a P/E ratio of 5.65, a P/E/G ratio of 1.17 and a beta of 1.62. The company has a current ratio of 1.84, a quick ratio of 1.30 and a debt-to-equity ratio of 0.86. Marathon Petroleum Co. has a twelve month low of $89.40 and a twelve month high of $157.99.
Marathon Petroleum Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Wednesday, August 16th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend was Tuesday, August 15th. Marathon Petroleum’s payout ratio is currently 10.89%.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on MPC. StockNews.com initiated coverage on shares of Marathon Petroleum in a research report on Thursday, August 17th. They set a “buy” rating for the company. Royal Bank of Canada raised their price objective on Marathon Petroleum from $148.00 to $152.00 and gave the company an “outperform” rating in a research report on Wednesday, August 2nd. Bank of America downgraded Marathon Petroleum from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $159.00 to $162.00 in a research report on Tuesday, August 15th. Wells Fargo & Company raised their price target on Marathon Petroleum from $142.00 to $157.00 and gave the company an “equal weight” rating in a report on Friday, September 8th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $150.00 price objective on shares of Marathon Petroleum in a report on Wednesday, August 2nd. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Marathon Petroleum presently has an average rating of “Moderate Buy” and a consensus target price of $153.00.
View Our Latest Research Report on MPC
Insider Buying and Selling at Marathon Petroleum
In other news, COO Gregory Scott Floerke sold 8,189 shares of Marathon Petroleum stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $145.80, for a total transaction of $1,193,956.20. Following the completion of the sale, the chief operating officer now directly owns 28,633 shares in the company, valued at $4,174,691.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, COO Gregory Scott Floerke sold 8,189 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $145.80, for a total transaction of $1,193,956.20. Following the transaction, the chief operating officer now directly owns 28,633 shares of the company’s stock, valued at $4,174,691.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kim K.W. Rucker sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $132.25, for a total value of $793,500.00. Following the completion of the sale, the director now owns 29,760 shares of the company’s stock, valued at approximately $3,935,760. The disclosure for this sale can be found here. Insiders have sold 27,188 shares of company stock valued at $3,890,973 in the last quarter. 0.28% of the stock is owned by insiders.
Marathon Petroleum Company Profile
Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. It operates in two segments, Refining & Marketing, and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.
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