Cypress Asset Management Inc. TX grew its stake in Marathon Petroleum Corp (NYSE:MPC) by 18.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,360 shares of the oil and gas company’s stock after purchasing an additional 669 shares during the period. Cypress Asset Management Inc. TX’s holdings in Marathon Petroleum were worth $257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Point72 Hong Kong Ltd grew its position in shares of Marathon Petroleum by 73.3% in the third quarter. Point72 Hong Kong Ltd now owns 19,007 shares of the oil and gas company’s stock valued at $1,520,000 after purchasing an additional 8,040 shares in the last quarter. Greatmark Investment Partners Inc. grew its position in shares of Marathon Petroleum by 347.8% in the fourth quarter. Greatmark Investment Partners Inc. now owns 38,530 shares of the oil and gas company’s stock valued at $2,274,000 after purchasing an additional 29,925 shares in the last quarter. Pictet Asset Management Ltd. grew its position in shares of Marathon Petroleum by 14.2% in the third quarter. Pictet Asset Management Ltd. now owns 312,700 shares of the oil and gas company’s stock valued at $25,007,000 after purchasing an additional 38,972 shares in the last quarter. Institute for Wealth Management LLC. grew its position in shares of Marathon Petroleum by 50.3% in the fourth quarter. Institute for Wealth Management LLC. now owns 21,591 shares of the oil and gas company’s stock valued at $1,274,000 after purchasing an additional 7,221 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Marathon Petroleum by 85.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 240,306 shares of the oil and gas company’s stock valued at $14,180,000 after purchasing an additional 110,816 shares in the last quarter. Institutional investors and hedge funds own 67.55% of the company’s stock.
Shares of Marathon Petroleum stock opened at $60.81 on Wednesday. The company has a market capitalization of $44.92 billion, a P/E ratio of 8.97, a price-to-earnings-growth ratio of 0.67 and a beta of 1.36. Marathon Petroleum Corp has a fifty-two week low of $54.29 and a fifty-two week high of $88.45. The company has a quick ratio of 1.09, a current ratio of 1.65 and a debt-to-equity ratio of 0.97.
Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Thursday, February 7th. The oil and gas company reported $2.41 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.43. Marathon Petroleum had a return on equity of 18.84% and a net margin of 2.86%. The company had revenue of $32.54 billion during the quarter, compared to analyst estimates of $34.16 billion. During the same period in the prior year, the business posted $1.05 earnings per share. The firm’s revenue for the quarter was up 53.2% compared to the same quarter last year. Equities research analysts predict that Marathon Petroleum Corp will post 6.33 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 11th. Shareholders of record on Wednesday, February 20th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 3.49%. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.46. The ex-dividend date is Tuesday, February 19th. Marathon Petroleum’s dividend payout ratio is 31.27%.
In other Marathon Petroleum news, CEO Gary R. Heminger sold 187,142 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 434,166 shares in the company, valued at $28,220,790. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven A. Davis purchased 3,500 shares of the firm’s stock in a transaction on Friday, December 14th. The shares were purchased at an average price of $62.14 per share, for a total transaction of $217,490.00. The disclosure for this purchase can be found here. 1.09% of the stock is owned by corporate insiders.
A number of equities research analysts have recently issued reports on the company. ValuEngine lowered Marathon Petroleum from a “hold” rating to a “sell” rating in a research report on Tuesday. Macquarie assumed coverage on Marathon Petroleum in a research report on Tuesday, February 5th. They issued an “outperform” rating and a $67.18 price objective for the company. Citigroup lowered their price objective on Marathon Petroleum from $104.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, December 6th. Cowen reiterated an “outperform” rating and issued a $101.00 price objective (up from $87.00) on shares of Marathon Petroleum in a research report on Thursday, December 6th. They noted that the move was a valuation call. Finally, Morgan Stanley lowered their price objective on Marathon Petroleum from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Tuesday, November 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $91.87.
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Marathon Petroleum Company Profile
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, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.
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