Redpoint Investment Management Pty Ltd increased its holdings in Marathon Petroleum Corp (NYSE:MPC) by 22.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,888 shares of the oil and gas company’s stock after purchasing an additional 11,033 shares during the period. Redpoint Investment Management Pty Ltd’s holdings in Marathon Petroleum were worth $3,534,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the stock. Certified Advisory Corp boosted its holdings in Marathon Petroleum by 71.2% during the fourth quarter. Certified Advisory Corp now owns 476 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 198 shares during the period. SeaBridge Investment Advisors LLC bought a new stake in Marathon Petroleum during the fourth quarter valued at about $30,000. Kistler Tiffany Companies LLC bought a new stake in Marathon Petroleum during the fourth quarter valued at about $30,000. San Francisco Sentry Investment Group CA boosted its holdings in Marathon Petroleum by 329.8% during the fourth quarter. San Francisco Sentry Investment Group CA now owns 606 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 465 shares during the period. Finally, BerganKDV Wealth Management LLC bought a new stake in Marathon Petroleum during the fourth quarter valued at about $36,000. Hedge funds and other institutional investors own 60.89% of the company’s stock.
In related news, Director Steven A. Davis bought 3,500 shares of Marathon Petroleum stock in a transaction that occurred on Friday, December 14th. The stock was acquired at an average price of $62.14 per share, for a total transaction of $217,490.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven A. Davis purchased 2,500 shares of the company’s stock in a transaction that occurred on Monday, November 19th. The stock was acquired at an average cost of $62.20 per share, with a total value of $155,500.00. Following the transaction, the director now directly owns 16,462 shares of the company’s stock, valued at $1,023,936.40. The disclosure for this purchase can be found here. 1.09% of the stock is currently owned by company insiders.
NYSE MPC opened at $62.72 on Monday. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.65 and a quick ratio of 1.09. Marathon Petroleum Corp has a twelve month low of $54.29 and a twelve month high of $88.45. The stock has a market capitalization of $43.33 billion, a P/E ratio of 9.25, a P/E/G ratio of 0.64 and a beta of 1.36.
Marathon Petroleum (NYSE:MPC) last released its earnings results on Thursday, February 7th. The oil and gas company reported $2.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.98 by $0.43. Marathon Petroleum had a net margin of 2.86% and a return on equity of 18.84%. The business had revenue of $32.54 billion during the quarter, compared to analysts’ expectations of $34.16 billion. During the same quarter last year, the company earned $1.05 earnings per share. The firm’s revenue was up 53.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Marathon Petroleum Corp will post 6.48 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, March 11th. Investors of record on Wednesday, February 20th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Tuesday, February 19th. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.46. Marathon Petroleum’s dividend payout ratio (DPR) is presently 27.14%.
A number of equities research analysts have issued reports on MPC shares. Citigroup upped their price target on shares of Marathon Petroleum from $100.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, October 16th. Zacks Investment Research cut shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a report on Friday, October 19th. ValuEngine cut shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a report on Thursday, November 1st. Morgan Stanley decreased their price target on shares of Marathon Petroleum from $110.00 to $95.00 and set a “buy” rating for the company in a report on Tuesday, November 20th. Finally, Cowen decreased their price target on shares of Marathon Petroleum from $111.00 to $97.00 and set an “outperform” rating for the company in a report on Wednesday, November 28th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Marathon Petroleum presently has an average rating of “Buy” and a consensus target price of $92.41.
About Marathon Petroleum
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, Speedway 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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