10,872 Shares in Marathon Petroleum Corp (MPC) Acquired by Tuttle Tactical Management LLC
Tuttle Tactical Management LLC acquired a new position in shares of Marathon Petroleum Corp (NYSE:MPC) in the 4th quarter, Holdings Channel reports. The fund acquired 10,872 shares of the oil and gas company’s stock, valued at approximately $717,000.
Several other large investors also recently modified their holdings of the company. Cetera Advisor Networks LLC lifted its position in shares of Marathon Petroleum by 21.0% during the 4th quarter. Cetera Advisor Networks LLC now owns 4,568 shares of the oil and gas company’s stock worth $303,000 after buying an additional 794 shares during the last quarter. Advisory Services Network LLC raised its position in Marathon Petroleum by 14.8% in the 4th quarter. Advisory Services Network LLC now owns 6,216 shares of the oil and gas company’s stock valued at $410,000 after purchasing an additional 803 shares during the last quarter. Assetmark Inc. raised its position in Marathon Petroleum by 13.9% in the 4th quarter. Assetmark Inc. now owns 6,674 shares of the oil and gas company’s stock valued at $440,000 after purchasing an additional 815 shares during the last quarter. Daiwa Securities Group Inc. raised its position in Marathon Petroleum by 2.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 34,135 shares of the oil and gas company’s stock valued at $2,252,000 after purchasing an additional 849 shares during the last quarter. Finally, Good Life Advisors LLC raised its position in Marathon Petroleum by 13.6% in the 4th quarter. Good Life Advisors LLC now owns 7,511 shares of the oil and gas company’s stock valued at $522,000 after purchasing an additional 902 shares during the last quarter. Institutional investors and hedge funds own 80.31% of the company’s stock.
Marathon Petroleum stock opened at $73.21 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.75 and a current ratio of 1.28. Marathon Petroleum Corp has a 12 month low of $47.78 and a 12 month high of $73.88. The firm has a market cap of $34,019.23, a price-to-earnings ratio of 18.28, a PEG ratio of 1.04 and a beta of 1.49.
The business also recently declared a quarterly dividend, which was paid on Monday, March 12th. Stockholders of record on Wednesday, February 21st were paid a dividend of $0.46 per share. The ex-dividend date was Tuesday, February 20th. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.40. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.51%. Marathon Petroleum’s dividend payout ratio is 26.59%.
In other news, insider Thomas M. Kelley sold 20,000 shares of the company’s stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $69.77, for a total transaction of $1,395,400.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Charles E. Bunch purchased 1,500 shares of the stock in a transaction dated Tuesday, March 6th. The shares were bought at an average cost of $67.38 per share, for a total transaction of $101,070.00. Following the completion of the purchase, the director now owns 12,853 shares in the company, valued at $866,035.14. The disclosure for this purchase can be found here. Corporate insiders own 1.05% of the company’s stock.
MPC has been the subject of several research reports. ValuEngine upgraded shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Barclays reiterated a “buy” rating and issued a $90.00 price target on shares of Marathon Petroleum in a research report on Friday, February 16th. Credit Suisse Group initiated coverage on shares of Marathon Petroleum in a research report on Wednesday, January 3rd. They issued an “outperform” rating and a $83.00 price target for the company. Zacks Investment Research downgraded shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Wednesday, November 22nd. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $89.00 price target on shares of Marathon Petroleum in a research report on Tuesday, January 30th. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $80.07.
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Marathon Petroleum Company 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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