Two Sigma Advisers LP increased its position in Marathon Petroleum Co. (NYSE:MPC – Get Rating) by 62.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 227,100 shares of the oil and gas company’s stock after purchasing an additional 87,700 shares during the period. Two Sigma Advisers LP’s holdings in Marathon Petroleum were worth $22,558,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in MPC. Renaissance Technologies LLC lifted its holdings in shares of Marathon Petroleum by 50,346.4% in the 2nd quarter. Renaissance Technologies LLC now owns 2,824,999 shares of the oil and gas company’s stock valued at $232,243,000 after purchasing an additional 2,819,399 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Marathon Petroleum by 22,119.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,227,468 shares of the oil and gas company’s stock valued at $190,449,000 after purchasing an additional 2,217,443 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Marathon Petroleum by 5,699.1% in the 3rd quarter. Pacer Advisors Inc. now owns 1,506,025 shares of the oil and gas company’s stock valued at $149,593,000 after purchasing an additional 1,480,055 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Marathon Petroleum by 59.7% in the 2nd 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 purchasing an additional 1,112,575 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Marathon Petroleum by 89.1% in the 1st quarter. First Trust Advisors LP now owns 1,431,767 shares of the oil and gas company’s stock valued at $122,416,000 after purchasing an additional 674,456 shares during the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Marathon Petroleum
In related news, Director Kim K.W. Rucker sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $130.00, for a total value of $780,000.00. Following the sale, the director now owns 34,950 shares of the company’s stock, valued at approximately $4,543,500. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.28% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Several equities analysts recently issued reports on the company. Cowen boosted their price target on Marathon Petroleum from $133.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, February 1st. Wells Fargo & Company boosted their price target on Marathon Petroleum from $133.00 to $153.00 and gave the company an “overweight” rating in a research report on Wednesday, February 1st. Jefferies Financial Group upgraded Marathon Petroleum from a “hold” rating to a “buy” rating and boosted their price target for the company from $134.00 to $157.00 in a research report on Friday, March 3rd. Raymond James boosted their price target on Marathon Petroleum from $155.00 to $165.00 and gave the company a “strong-buy” rating in a research report on Wednesday, February 1st. Finally, StockNews.com upgraded Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 2nd. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $138.63.
Marathon Petroleum Price Performance
Shares of NYSE:MPC opened at $128.55 on Friday. The business’s 50 day simple moving average is $123.99 and its 200-day simple moving average is $114.45. The firm has a market capitalization of $57.28 billion, a price-to-earnings ratio of 4.50, a price-to-earnings-growth ratio of 0.26 and a beta of 1.60. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.76 and a quick ratio of 1.32. Marathon Petroleum Co. has a 12 month low of $73.18 and a 12 month high of $136.46.
Marathon Petroleum (NYSE:MPC – Get Rating) last posted its 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. Marathon Petroleum had a return on equity of 41.55% and a net margin of 8.07%. The firm had revenue of $39.82 billion for the quarter, compared to analyst estimates of $35.29 billion. During the same quarter in the prior year, the company earned $1.30 EPS. Marathon Petroleum’s revenue was up 12.7% on a year-over-year basis. As a group, equities analysts forecast that Marathon Petroleum Co. will post 18.96 earnings per share for the current fiscal year.
Marathon Petroleum Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Thursday, February 16th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend was Wednesday, February 15th. Marathon Petroleum’s payout ratio is currently 10.49%.
Marathon Petroleum 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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