Pallas Capital Advisors LLC grew its holdings in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 154.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,695 shares of the oil and gas company's stock after acquiring an additional 3,460 shares during the period. Pallas Capital Advisors LLC's holdings in Marathon Petroleum were worth $794,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dai ichi Life Insurance Company Ltd lifted its stake in shares of Marathon Petroleum by 8.0% in the 2nd quarter. Dai ichi Life Insurance Company Ltd now owns 6,269 shares of the oil and gas company's stock valued at $1,088,000 after purchasing an additional 467 shares during the period. Brown Brothers Harriman & Co. raised its position in shares of Marathon Petroleum by 378.9% in the second quarter. Brown Brothers Harriman & Co. now owns 3,338 shares of the oil and gas company's stock worth $579,000 after acquiring an additional 2,641 shares during the period. Citizens Financial Group Inc. RI boosted its stake in shares of Marathon Petroleum by 6.2% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 18,386 shares of the oil and gas company's stock worth $3,190,000 after acquiring an additional 1,074 shares in the last quarter. Edgestream Partners L.P. grew its position in shares of Marathon Petroleum by 271.7% during the 2nd quarter. Edgestream Partners L.P. now owns 15,686 shares of the oil and gas company's stock valued at $2,721,000 after acquiring an additional 11,466 shares during the period. Finally, Madison Wealth Partners Inc increased its stake in shares of Marathon Petroleum by 30.4% in the 2nd quarter. Madison Wealth Partners Inc now owns 1,384 shares of the oil and gas company's stock valued at $240,000 after purchasing an additional 323 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In related news, Director Jeffrey C. Campbell acquired 6,000 shares of the firm's stock in a transaction dated Wednesday, December 4th. The shares were purchased at an average cost of $149.61 per share, for a total transaction of $897,660.00. Following the acquisition, the director now owns 6,090 shares in the company, valued at $911,124.90. The trade was a 6,666.67 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.21% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. lowered their price target on Marathon Petroleum from $172.00 to $171.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 9th. Citigroup decreased their target price on Marathon Petroleum from $172.00 to $167.00 and set a "neutral" rating on the stock in a research report on Thursday, October 10th. Mizuho cut their price target on shares of Marathon Petroleum from $175.00 to $174.00 and set a "neutral" rating for the company in a report on Monday, December 16th. Scotiabank decreased their price objective on shares of Marathon Petroleum from $191.00 to $170.00 and set a "sector outperform" rating on the stock in a report on Thursday, October 10th. Finally, Barclays cut their target price on shares of Marathon Petroleum from $168.00 to $159.00 and set an "overweight" rating for the company in a research note on Monday, November 11th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $183.73.
View Our Latest Analysis on MPC
Marathon Petroleum Price Performance
Shares of NYSE:MPC traded up $3.11 during midday trading on Wednesday, hitting $152.53. The company had a trading volume of 1,487,848 shares, compared to its average volume of 2,872,291. The business's 50-day simple moving average is $147.88 and its 200-day simple moving average is $159.57. The stock has a market cap of $49.02 billion, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 2.56 and a beta of 1.42. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. Marathon Petroleum Co. has a twelve month low of $130.54 and a twelve month high of $221.11.
Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 EPS for the quarter, topping the consensus estimate of $0.97 by $0.90. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The business had revenue of $35.37 billion for the quarter, compared to analyst estimates of $34.34 billion. During the same quarter in the previous year, the firm earned $8.14 EPS. The company's quarterly revenue was down 14.9% compared to the same quarter last year. On average, research analysts predict that Marathon Petroleum Co. will post 9.47 earnings per share for the current year.
Marathon Petroleum declared that its board has approved a share repurchase program on Tuesday, November 5th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to purchase up to 10% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's leadership believes its shares are undervalued.
Marathon Petroleum Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th were paid a dividend of $0.91 per share. This is a boost from Marathon Petroleum's previous quarterly dividend of $0.83. The ex-dividend date was Wednesday, November 20th. This represents a $3.64 annualized dividend and a yield of 2.39%. Marathon Petroleum's dividend payout ratio (DPR) is 28.84%.
About Marathon Petroleum
(
Free Report)
Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. 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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