BT Investment Management Ltd Lowers Position in Marathon Petroleum Corp (MPC)
BT Investment Management Ltd trimmed its position in Marathon Petroleum Corp (NYSE:MPC) by 5.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 159,248 shares of the oil and gas company’s stock after selling 9,545 shares during the quarter. BT Investment Management Ltd’s holdings in Marathon Petroleum were worth $10,507,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the stock. Bank of The West increased its position in Marathon Petroleum by 28.5% in the fourth 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. WASHINGTON TRUST Co acquired a new stake in Marathon Petroleum in the fourth quarter worth about $221,000. Adell Harriman & Carpenter Inc. increased its position in Marathon Petroleum by 28.6% in the fourth quarter. Adell Harriman & Carpenter Inc. now owns 65,601 shares of the oil and gas company’s stock worth $4,328,000 after purchasing an additional 14,600 shares during the period. Stephens Inc. AR increased its position in Marathon Petroleum by 23.5% in the fourth quarter. Stephens Inc. AR now owns 88,038 shares of the oil and gas company’s stock worth $5,809,000 after purchasing an additional 16,726 shares during the period. Finally, Raymond James Trust N.A. increased its position in Marathon Petroleum by 1.6% in the fourth quarter. Raymond James Trust N.A. now owns 131,658 shares of the oil and gas company’s stock worth $8,687,000 after purchasing an additional 2,089 shares during the period. Hedge funds and other institutional investors own 80.78% of the company’s stock.
In other news, VP C. Michael Palmer sold 17,298 shares of Marathon Petroleum stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $64.55, for a total transaction of $1,116,585.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Rodney P. Nichols sold 6,374 shares of Marathon Petroleum stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $64.93, for a total value of $413,863.82. Following the transaction, the vice president now owns 74,674 shares in the company, valued at approximately $4,848,582.82. The disclosure for this sale can be found here. Insiders have sold a total of 72,276 shares of company stock worth $4,645,189 in the last quarter. 1.05% of the stock is currently owned by company insiders.
Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Thursday, February 1st. The oil and gas company reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.05. Marathon Petroleum had a return on equity of 10.04% and a net margin of 4.60%. The business had revenue of $21.24 billion for the quarter, compared to analysts’ expectations of $17.27 billion. During the same quarter in the previous year, the business posted $0.43 EPS. Marathon Petroleum’s revenue for the quarter was up 22.9% on a year-over-year basis. analysts forecast that Marathon Petroleum Corp will post 4.91 earnings per share for the current fiscal year.
The firm 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 dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.83%. 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%.
A number of analysts recently commented on MPC shares. Zacks Investment Research upgraded Marathon Petroleum from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a research report on Monday, October 16th. Cowen restated a “buy” rating on shares of Marathon Petroleum in a research report on Tuesday, November 14th. Citigroup boosted their target price on Marathon Petroleum from $67.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Royal Bank of Canada restated a “buy” rating and set a $89.00 target price on shares of Marathon Petroleum in a research report on Tuesday, January 30th. Finally, Scotiabank restated a “hold” rating and set a $75.00 target price on shares of Marathon Petroleum in a research report on Wednesday, January 10th. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. Marathon Petroleum presently has a consensus rating of “Buy” and an average price target of $74.08.
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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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