Stratos Wealth Partners LTD. increased its holdings in Marathon Petroleum Corp (NYSE:MPC) by 1.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,424 shares of the oil and gas company’s stock after buying an additional 248 shares during the period. Stratos Wealth Partners LTD.’s holdings in Marathon Petroleum were worth $863,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in MPC. BlackRock Inc. boosted its position in shares of Marathon Petroleum by 36.6% in the 4th quarter. BlackRock Inc. now owns 54,581,132 shares of the oil and gas company’s stock worth $3,220,832,000 after buying an additional 14,619,755 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in Marathon Petroleum by 9,095.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 14,042,197 shares of the oil and gas company’s stock valued at $238,000 after purchasing an additional 13,889,489 shares in the last quarter. Norges Bank purchased a new position in Marathon Petroleum in the 4th quarter valued at about $462,677,000. Boston Partners lifted its holdings in Marathon Petroleum by 81.9% in the 4th quarter. Boston Partners now owns 12,173,365 shares of the oil and gas company’s stock valued at $718,350,000 after purchasing an additional 5,479,818 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Marathon Petroleum by 70.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,065,459 shares of the oil and gas company’s stock valued at $593,940,000 after purchasing an additional 4,153,879 shares in the last quarter. Institutional investors and hedge funds own 77.93% of the company’s stock.
Shares of NYSE MPC traded up $1.53 on Tuesday, reaching $53.65. 160,767 shares of the company traded hands, compared to its average volume of 6,709,634. Marathon Petroleum Corp has a fifty-two week low of $50.19 and a fifty-two week high of $88.45. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.20 and a quick ratio of 0.55. The company has a market cap of $35.01 billion, a P/E ratio of 7.93, a P/E/G ratio of 1.31 and a beta of 1.35.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 16th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date is Wednesday, May 15th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 31.27%.
In related news, CEO Gary R. Heminger sold 187,142 shares of the stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $65.00, for a total transaction of $12,164,230.00. Following the completion of the sale, the chief executive officer now owns 434,166 shares of the company’s stock, valued at approximately $28,220,790. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Donald C. Templin acquired 5,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was purchased at an average cost of $50.74 per share, with a total value of $253,700.00. Following the transaction, the insider now directly owns 93,182 shares of the company’s stock, valued at $4,728,054.68. The disclosure for this purchase can be found here. 1.06% of the stock is currently owned by corporate insiders.
MPC has been the topic of a number of recent research reports. Raymond James reduced their target price on shares of Marathon Petroleum from $90.00 to $85.00 and set a “strong-buy” rating on the stock in a report on Wednesday, April 10th. Macquarie initiated coverage on shares of Marathon Petroleum in a report on Tuesday, February 5th. They issued an “outperform” rating and a $67.18 target price on the stock. ValuEngine lowered shares of Marathon Petroleum from a “hold” rating to a “sell” rating in a report on Tuesday, March 5th. Royal Bank of Canada reduced their target price on shares of Marathon Petroleum from $71.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. Finally, Citigroup reduced their target price on shares of Marathon Petroleum from $91.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, March 4th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Marathon Petroleum has a consensus rating of “Buy” and a consensus price target of $85.68.
Marathon Petroleum Profile
Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing; Retail; and Midstream. The Refining & 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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