Marathon Petroleum Corp (MPC) Shares Bought by Willingdon Wealth Management
Willingdon Wealth Management increased its holdings in shares of Marathon Petroleum Corp (NYSE:MPC) by 13.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,611 shares of the oil and gas company’s stock after buying an additional 2,928 shares during the quarter. Willingdon Wealth Management’s holdings in Marathon Petroleum were worth $1,624,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also made changes to their positions in the stock. Dimensional Fund Advisors LP grew its stake in Marathon Petroleum by 0.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,103,034 shares of the oil and gas company’s stock worth $342,221,000 after buying an additional 35,033 shares during the last quarter. Prudential Financial Inc. grew its stake in Marathon Petroleum by 61.6% during the 3rd quarter. Prudential Financial Inc. now owns 3,987,706 shares of the oil and gas company’s stock worth $223,630,000 after buying an additional 1,520,471 shares during the last quarter. LSV Asset Management grew its stake in Marathon Petroleum by 10.7% during the 4th quarter. LSV Asset Management now owns 3,485,024 shares of the oil and gas company’s stock worth $229,941,000 after buying an additional 335,930 shares during the last quarter. APG Asset Management N.V. grew its stake in Marathon Petroleum by 10.2% during the 4th quarter. APG Asset Management N.V. now owns 3,263,117 shares of the oil and gas company’s stock worth $179,298,000 after buying an additional 301,326 shares during the last quarter. Finally, Third Point LLC purchased a new position in Marathon Petroleum during the 3rd quarter worth $154,220,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.
Several analysts have weighed in on MPC shares. ValuEngine upgraded Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Zacks Investment Research downgraded Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Wednesday, November 22nd. Credit Suisse Group started coverage on Marathon Petroleum in a research note on Wednesday, January 3rd. They set an “outperform” rating and a $83.00 price target on the stock. Barclays boosted their price target on Marathon Petroleum from $63.00 to $76.00 and gave the company an “overweight” rating in a research note on Tuesday, November 14th. Finally, Citigroup boosted their price target on Marathon Petroleum from $67.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, October 18th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $74.08.
Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Thursday, February 1st. The oil and gas company reported $1.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.05. The business had revenue of $21.24 billion during the quarter, compared to analysts’ expectations of $17.27 billion. Marathon Petroleum had a return on equity of 10.04% and a net margin of 4.60%. The company’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.43 EPS. sell-side analysts expect that Marathon Petroleum Corp will post 5.12 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Wednesday, February 21st will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Tuesday, February 20th. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.40. Marathon Petroleum’s payout ratio is 50.00%.
In other news, insider Thomas M. Kelley sold 35,604 shares of the business’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $64.75, for a total value of $2,305,359.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP C. Michael Palmer sold 17,298 shares of the business’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $64.55, for a total value of $1,116,585.90. The disclosure for this sale can be found here. In the last three months, insiders sold 72,276 shares of company stock valued at $4,645,189. Insiders own 1.05% of the company’s stock.
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Marathon Petroleum 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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