Advisors Asset Management Inc. Has $6.76 Million Holdings in Marathon Petroleum Corporation (MPC)
Advisors Asset Management Inc. decreased its stake in Marathon Petroleum Corporation (NYSE:MPC) by 3.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 120,462 shares of the oil and gas company’s stock after selling 3,955 shares during the quarter. Advisors Asset Management Inc.’s holdings in Marathon Petroleum Corporation were worth $6,756,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Blue Chip Partners Inc. acquired a new position in Marathon Petroleum Corporation in the second quarter valued at about $100,000. Lee Financial Co lifted its stake in Marathon Petroleum Corporation by 2.4% in the second quarter. Lee Financial Co now owns 2,048 shares of the oil and gas company’s stock valued at $107,000 after buying an additional 48 shares during the period. Crow Point Partners LLC acquired a new position in Marathon Petroleum Corporation in the third quarter valued at about $128,000. First Interstate Bank lifted its stake in Marathon Petroleum Corporation by 81.1% in the second quarter. First Interstate Bank now owns 2,376 shares of the oil and gas company’s stock valued at $124,000 after buying an additional 1,064 shares during the period. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in Marathon Petroleum Corporation in the third quarter valued at about $135,000. 81.02% of the stock is currently owned by hedge funds and other institutional investors.
In other Marathon Petroleum Corporation news, insider Anthony R. Kenney sold 77,578 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $62.35, for a total value of $4,836,988.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP C. Michael Palmer sold 11,450 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $53.02, for a total value of $607,079.00. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by company insiders.
Shares of Marathon Petroleum Corporation (NYSE MPC) traded up $0.26 during trading on Friday, reaching $62.27. The company had a trading volume of 2,980,762 shares, compared to its average volume of 4,221,170. Marathon Petroleum Corporation has a 1-year low of $42.57 and a 1-year high of $63.41. The firm has a market cap of $30,413.41, a price-to-earnings ratio of 18.93, a PEG ratio of 1.54 and a beta of 1.59. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.80 and a current ratio of 1.52.
Marathon Petroleum Corporation (NYSE:MPC) last announced its earnings results on Thursday, October 26th. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.48 by $0.29. Marathon Petroleum Corporation had a return on equity of 8.52% and a net margin of 2.35%. The business had revenue of $19.36 billion for the quarter, compared to analyst estimates of $19.38 billion. During the same quarter last year, the firm earned $0.58 EPS. Marathon Petroleum Corporation’s revenue for the quarter was up 17.6% compared to the same quarter last year. analysts anticipate that Marathon Petroleum Corporation will post 3.68 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Thursday, November 16th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date is Wednesday, November 15th. Marathon Petroleum Corporation’s dividend payout ratio is presently 49.08%.
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Several equities analysts have weighed in on MPC shares. Bank of America Corporation lowered Marathon Petroleum Corporation from a “buy” rating to a “neutral” rating in a research note on Tuesday, September 5th. Citigroup Inc. raised their price target on Marathon Petroleum Corporation from $67.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Wells Fargo & Company lowered Marathon Petroleum Corporation from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $65.00 to $56.00 in a research report on Tuesday, September 5th. Zacks Investment Research lowered Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Finally, Scotiabank reaffirmed a “hold” rating and set a $55.00 price target on shares of Marathon Petroleum Corporation in a research report on Friday, September 1st. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $65.07.
Marathon Petroleum Corporation 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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