Rehmann Capital Advisory Group Purchases 495 Shares of Marathon Petroleum Corp (MPC)
Rehmann Capital Advisory Group increased its position in Marathon Petroleum Corp (NYSE:MPC) by 5.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 10,130 shares of the oil and gas company’s stock after acquiring an additional 495 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Marathon Petroleum were worth $810,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Rational Advisors LLC grew its holdings in Marathon Petroleum by 282.4% during the 3rd quarter. Rational Advisors LLC now owns 1,480 shares of the oil and gas company’s stock valued at $118,000 after buying an additional 1,093 shares in the last quarter. NEXT Financial Group Inc purchased a new position in Marathon Petroleum during the 3rd quarter valued at about $124,000. Columbia Asset Management purchased a new position in Marathon Petroleum during the 3rd quarter valued at about $156,000. Belpointe Asset Management LLC purchased a new position in Marathon Petroleum during the 3rd quarter valued at about $164,000. Finally, Almanack Investment Partners LLC. purchased a new position in Marathon Petroleum during the 3rd quarter valued at about $166,000. 83.16% of the stock is owned by institutional investors.
A number of research analysts have weighed in on the company. ValuEngine raised Marathon Petroleum from a “sell” rating to a “hold” rating in a report on Thursday. Cowen reaffirmed an “outperform” rating and set a $101.00 target price (up previously from $87.00) on shares of Marathon Petroleum in a report on Thursday. They noted that the move was a valuation call. Citigroup reduced their target price on Marathon Petroleum from $104.00 to $95.00 and set a “buy” rating for the company in a report on Thursday. Morgan Stanley reduced their target price on Marathon Petroleum from $110.00 to $95.00 and set a “buy” rating for the company in a report on Tuesday, November 20th. Finally, Zacks Investment Research lowered Marathon Petroleum from a “buy” rating to a “hold” rating in a report on Friday, October 19th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Marathon Petroleum currently has a consensus rating of “Buy” and a consensus target price of $92.93.
Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Thursday, November 1st. The oil and gas company reported $1.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.02. The firm had revenue of $23.13 billion during the quarter, compared to the consensus estimate of $23.20 billion. Marathon Petroleum had a return on equity of 12.28% and a net margin of 4.48%. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter last year, the company posted $1.77 EPS. On average, equities analysts forecast that Marathon Petroleum Corp will post 5.14 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Wednesday, November 21st will be given a dividend of $0.46 per share. 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 2.99%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 48.42%.
In other Marathon Petroleum news, Director Steven A. Davis purchased 2,500 shares of the company’s stock in a transaction dated Monday, November 19th. The stock was purchased at an average price of $62.20 per share, for a total transaction of $155,500.00. Following the transaction, the director now owns 16,462 shares in the company, valued at approximately $1,023,936.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.09% of the company’s stock.
Marathon Petroleum 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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