Rockefeller Capital Management L.P. boosted its position in shares of Marathon Petroleum Corp (NYSE:MPC) by 104.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,457 shares of the oil and gas company’s stock after purchasing an additional 8,397 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Marathon Petroleum were worth $985,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Hanson McClain Inc. bought a new stake in Marathon Petroleum during the 4th quarter worth about $25,000. Alpha Omega Wealth Management LLC raised its holdings in Marathon Petroleum by 135.1% during the 1st quarter. Alpha Omega Wealth Management LLC now owns 435 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 250 shares during the last quarter. Certified Advisory Corp raised its holdings in Marathon Petroleum by 71.2% during the 4th quarter. Certified Advisory Corp now owns 476 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 198 shares during the last quarter. SeaBridge Investment Advisors LLC bought a new stake in Marathon Petroleum during the 4th quarter worth about $30,000. Finally, Berman Capital Advisors LLC bought a new stake in Marathon Petroleum during the 4th quarter worth about $30,000. 77.44% of the stock is owned by hedge funds and other institutional investors.
MPC has been the subject of a number of recent analyst reports. ValuEngine raised Marathon Petroleum from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 22nd. Zacks Investment Research cut Marathon Petroleum from a “hold” rating to a “strong sell” rating in a research note on Friday, May 17th. Morgan Stanley lowered their price target on Marathon Petroleum from $82.00 to $75.00 and set an “overweight” rating for the company in a research note on Friday, May 17th. Credit Suisse Group lowered their price target on Marathon Petroleum from $95.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, May 13th. Finally, Cowen lowered Marathon Petroleum from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $90.00 to $65.00 in a research report on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $85.68.
Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Wednesday, May 8th. The oil and gas company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.10). Marathon Petroleum had a return on equity of 11.10% and a net margin of 2.56%. The firm had revenue of $28.62 billion for the quarter, compared to analyst estimates of $27.70 billion. During the same period last year, the company earned $0.08 EPS. The company’s revenue was up 50.7% compared to the same quarter last year. Analysts forecast that Marathon Petroleum Corp will post 4.5 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Thursday, May 16th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 3.84%. The ex-dividend date was Wednesday, May 15th. Marathon Petroleum’s payout ratio is presently 31.27%.
In related news, Director James E. Rohr acquired 12,500 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was bought at an average price of $48.14 per share, with a total value of $601,750.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Donald C. Templin acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was bought at an average cost of $50.74 per share, with a total value of $253,700.00. Following the acquisition, the insider now owns 93,182 shares in the company, valued at approximately $4,728,054.68. The disclosure for this purchase can be found here. Corporate insiders own 1.06% of the company’s stock.
Marathon Petroleum Profile
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; Retail; 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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