Hartree Partners LP purchased a new stake in shares of Marathon Petroleum Corp (NYSE:MPC) during the first quarter, HoldingsChannel.com reports. The fund purchased 145,000 shares of the oil and gas company’s stock, valued at approximately $8,678,000. Marathon Petroleum comprises about 8.8% of Hartree Partners LP’s holdings, making the stock its 3rd biggest holding.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Marshall Wace LLP purchased a new position in shares of Marathon Petroleum during the 3rd quarter valued at approximately $1,255,000. Vanguard Group Inc lifted its position in shares of Marathon Petroleum by 0.7% during the 3rd quarter. Vanguard Group Inc now owns 35,373,004 shares of the oil and gas company’s stock valued at $2,828,779,000 after buying an additional 255,599 shares in the last quarter. Kistler Tiffany Companies LLC purchased a new position in shares of Marathon Petroleum during the 4th quarter valued at approximately $30,000. Contravisory Investment Management Inc. raised its stake in Marathon Petroleum by 193.3% in the 4th quarter. Contravisory Investment Management Inc. now owns 742 shares of the oil and gas company’s stock valued at $44,000 after purchasing an additional 489 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in Marathon Petroleum by 37.5% in the 4th quarter. Louisiana State Employees Retirement System now owns 36,300 shares of the oil and gas company’s stock valued at $2,142,000 after purchasing an additional 9,900 shares during the last quarter. 77.93% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO Gary R. Heminger sold 187,142 shares of the firm’s stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $65.00, for a total transaction of $12,164,230.00. Following the completion of the transaction, the chief executive officer now directly owns 434,166 shares in the company, valued at approximately $28,220,790. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.06% of the company’s stock.
Several research analysts recently commented on MPC shares. Wells Fargo & Co reduced their price objective on Marathon Petroleum from $96.00 to $90.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. Morgan Stanley cut their price objective on Marathon Petroleum from $85.00 to $82.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. Raymond James cut their price objective on Marathon Petroleum from $85.00 to $80.00 and set a “strong-buy” rating for the company in a research report on Thursday, May 9th. ValuEngine downgraded Marathon Petroleum from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th. Finally, Cowen reissued an “outperform” rating and set a $90.00 price objective (down from $101.00) on shares of Marathon Petroleum in a research report on Monday, May 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $86.27.
Marathon Petroleum stock traded up $0.04 during midday trading on Wednesday, reaching $51.35. 2,631,462 shares of the stock traded hands, compared to its average volume of 7,262,723. Marathon Petroleum Corp has a 12-month low of $50.60 and a 12-month high of $88.45. The stock has a market capitalization of $33.61 billion, a price-to-earnings ratio of 7.57, a price-to-earnings-growth ratio of 1.24 and a beta of 1.35. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.20 and a quick ratio of 0.55.
Marathon Petroleum (NYSE:MPC) last announced its earnings results on Wednesday, May 8th. The oil and gas company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.10). Marathon Petroleum had a net margin of 2.56% and a return on equity of 11.10%. The firm had revenue of $28.62 billion for the quarter, compared to analysts’ expectations of $27.70 billion. During the same quarter last year, the business earned $0.08 earnings per share. The business’s revenue was up 50.7% compared to the same quarter last year. Equities research analysts anticipate that Marathon Petroleum Corp will post 5.07 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 16th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date is Wednesday, May 15th. Marathon Petroleum’s dividend payout ratio (DPR) is 31.27%.
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About Marathon Petroleum
Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Retail, and Midstream. The Refining & Marketing segment refines crude oil and other feed stocks at its 16 refineries in the West Coast, Gulf Coast, and Mid-Continent regions of the United States; and purchases refined products and ethanol for resale.
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