Marathon Petroleum Corp (MPC) Shares Bought by Stone Ridge Asset Management LLC
Stone Ridge Asset Management LLC raised its holdings in Marathon Petroleum Corp (NYSE:MPC) by 35.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,404 shares of the oil and gas company’s stock after purchasing an additional 1,952 shares during the period. Stone Ridge Asset Management LLC’s holdings in Marathon Petroleum were worth $592,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Greenleaf Trust lifted its position in shares of Marathon Petroleum by 10.1% in the second quarter. Greenleaf Trust now owns 6,953 shares of the oil and gas company’s stock valued at $488,000 after acquiring an additional 635 shares in the last quarter. MUFG Americas Holdings Corp lifted its position in shares of Marathon Petroleum by 2.4% in the second quarter. MUFG Americas Holdings Corp now owns 27,240 shares of the oil and gas company’s stock valued at $1,911,000 after acquiring an additional 639 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Marathon Petroleum by 1.4% in the second quarter. Janney Montgomery Scott LLC now owns 51,889 shares of the oil and gas company’s stock valued at $3,641,000 after acquiring an additional 692 shares in the last quarter. Shikiar Asset Management Inc. lifted its position in shares of Marathon Petroleum by 1.4% in the third quarter. Shikiar Asset Management Inc. now owns 55,325 shares of the oil and gas company’s stock valued at $4,424,000 after acquiring an additional 750 shares in the last quarter. Finally, GWM Advisors LLC lifted its position in shares of Marathon Petroleum by 16.8% in the third quarter. GWM Advisors LLC now owns 5,274 shares of the oil and gas company’s stock valued at $422,000 after acquiring an additional 757 shares in the last quarter. 83.16% of the stock is currently owned by institutional investors.
NYSE:MPC opened at $61.89 on Wednesday. Marathon Petroleum Corp has a 52 week low of $60.64 and a 52 week high of $88.45. The company has a current ratio of 1.65, a quick ratio of 1.09 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $43.81 billion, a price-to-earnings ratio of 16.29, a price-to-earnings-growth ratio of 0.86 and a beta of 1.50.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Wednesday, November 21st will be paid a $0.46 dividend. The ex-dividend date of this dividend is Tuesday, November 20th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.97%. Marathon Petroleum’s payout ratio is presently 48.42%.
A number of equities analysts recently commented on MPC shares. Zacks Investment Research downgraded Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Tuesday, September 11th. Citigroup lifted their price objective on Marathon Petroleum from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, October 16th. Goldman Sachs Group started coverage on Marathon Petroleum in a research report on Tuesday, October 2nd. They set a “conviction-buy” rating on the stock. Tudor Pickering upgraded Marathon Petroleum from a “hold” rating to a “buy” rating in a research report on Thursday, October 11th. Finally, Barclays started coverage on Marathon Petroleum in a research report on Wednesday, October 3rd. They set an “overweight” rating and a $125.00 price objective on the stock. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Marathon Petroleum currently has an average rating of “Buy” and a consensus target price of $91.44.
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Marathon Petroleum Company Profile
Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.
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