Icon Advisers Inc. Co. grew its holdings in shares of Marathon Petroleum Corp (NYSE:MPC) by 512.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 275,800 shares of the oil and gas company’s stock after purchasing an additional 230,800 shares during the quarter. Marathon Petroleum makes up about 1.3% of Icon Advisers Inc. Co.’s investment portfolio, making the stock its 14th biggest position. Icon Advisers Inc. Co.’s holdings in Marathon Petroleum were worth $18,197,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the business. River Road Asset Management LLC lifted its stake in shares of Marathon Petroleum by 8.2% during the 4th quarter. River Road Asset Management LLC now owns 1,815,306 shares of the oil and gas company’s stock worth $119,774,000 after purchasing an additional 138,294 shares during the period. Teacher Retirement System of Texas lifted its stake in shares of Marathon Petroleum by 105.9% during the 4th quarter. Teacher Retirement System of Texas now owns 637,989 shares of the oil and gas company’s stock worth $42,095,000 after purchasing an additional 328,177 shares during the period. AE Wealth Management LLC purchased a new position in shares of Marathon Petroleum during the 4th quarter worth $239,000. Gamble Jones Investment Counsel purchased a new position in shares of Marathon Petroleum during the 4th quarter worth $211,000. Finally, Bank of The West lifted its stake in shares of Marathon Petroleum by 28.5% during the 4th quarter. Bank of The West now owns 71,776 shares of the oil and gas company’s stock worth $4,736,000 after purchasing an additional 15,928 shares during the period. 80.78% of the stock is currently owned by institutional investors.
Marathon Petroleum Corp (NYSE MPC) opened at $62.79 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.52 and a quick ratio of 0.80. The firm has a market capitalization of $31,633.74, a price-to-earnings ratio of 16.65, a P/E/G ratio of 0.90 and a beta of 1.49. Marathon Petroleum Corp has a 52-week low of $47.78 and a 52-week high of $73.53.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Wednesday, February 21st will be given a $0.46 dividend. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.40. This represents a $1.84 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend is Tuesday, February 20th. Marathon Petroleum’s dividend payout ratio (DPR) is 23.12%.
In related news, VP Raymond L. Brooks sold 13,000 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $62.26, for a total value of $809,380.00. Following the transaction, the vice president now directly owns 32,205 shares of the company’s stock, valued at approximately $2,005,083.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Rodney P. Nichols sold 6,374 shares of the stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $64.93, for a total value of $413,863.82. Following the completion of the transaction, the vice president now directly owns 74,674 shares in the company, valued at $4,848,582.82. The disclosure for this sale can be found here. Insiders sold a total of 72,276 shares of company stock worth $4,645,189 over the last ninety days. Corporate insiders own 1.05% of the company’s stock.
A number of research analysts have weighed in on the company. Citigroup reissued a “buy” rating and set a $79.00 price target on shares of Marathon Petroleum in a research note on Friday, February 2nd. Cowen reissued an “outperform” rating and set a $90.00 price target (up previously from $76.00) on shares of Marathon Petroleum in a research note on Thursday, February 1st. ValuEngine raised Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. Jefferies Group lowered Marathon Petroleum from a “buy” rating to a “hold” rating and set a $70.00 price target on the stock. in a research note on Monday. Finally, Royal Bank of Canada reissued a “buy” rating and set a $89.00 price target on shares of Marathon Petroleum in a research note on Tuesday, January 30th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $74.08.
Marathon Petroleum Company Profile
Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.
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