Mackenzie Financial Corp Has $34.01 Million Holdings in Marathon Petroleum Corporation (MPC)
Mackenzie Financial Corp lowered its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 0.3% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 606,523 shares of the oil and gas company’s stock after selling 2,000 shares during the period. Mackenzie Financial Corp owned approximately 0.12% of Marathon Petroleum worth $34,014,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Marathon Petroleum by 4.1% during the 2nd quarter. Vanguard Group Inc. now owns 39,255,717 shares of the oil and gas company’s stock worth $2,054,251,000 after buying an additional 1,544,114 shares in the last quarter. Iridian Asset Management LLC CT lifted its position in shares of Marathon Petroleum by 8.0% during the 2nd quarter. Iridian Asset Management LLC CT now owns 8,327,167 shares of the oil and gas company’s stock worth $435,761,000 after buying an additional 619,548 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Marathon Petroleum by 0.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,103,034 shares of the oil and gas company’s stock worth $342,221,000 after buying an additional 35,033 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Marathon Petroleum by 93.3% during the 2nd quarter. Alliancebernstein L.P. now owns 5,331,521 shares of the oil and gas company’s stock worth $278,998,000 after buying an additional 2,572,727 shares in the last quarter. Finally, AJO LP lifted its position in shares of Marathon Petroleum by 9.0% during the 2nd quarter. AJO LP now owns 4,991,921 shares of the oil and gas company’s stock worth $261,227,000 after buying an additional 410,816 shares in the last quarter. Institutional investors and hedge funds own 80.83% of the company’s stock.
Marathon Petroleum Corporation (NYSE:MPC) traded up $1.24 on Wednesday, hitting $64.54. 4,256,100 shares of the stock were exchanged, compared to its average volume of 4,373,075. The stock has a market cap of $30,916.49, a price-to-earnings ratio of 19.24, a P/E/G ratio of 1.52 and a beta of 1.61. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.52 and a quick ratio of 0.80. Marathon Petroleum Corporation has a 12-month low of $46.88 and a 12-month high of $65.41.
Marathon Petroleum (NYSE:MPC) last announced its earnings results on Thursday, October 26th. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.29. Marathon Petroleum had a net margin of 2.35% and a return on equity of 8.52%. The company had revenue of $19.36 billion during the quarter, compared to analyst estimates of $19.38 billion. During the same period in the previous year, the business earned $0.58 earnings per share. The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. research analysts forecast that Marathon Petroleum Corporation will post 3.8 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Thursday, November 16th will be given a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $1.60 annualized dividend and a yield of 2.48%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 49.08%.
MPC has been the topic of several recent analyst reports. Scotiabank reissued a “hold” rating and set a $55.00 target price on shares of Marathon Petroleum in a research report on Friday, September 1st. BidaskClub raised shares of Marathon Petroleum from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Jefferies Group reaffirmed a “buy” rating and issued a $64.00 price target (down previously from $65.00) on shares of Marathon Petroleum in a report on Wednesday, September 6th. Zacks Investment Research raised shares of Marathon Petroleum from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a report on Friday, November 10th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $71.00 target price on shares of Marathon Petroleum in a report on Thursday, August 31st. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Marathon Petroleum currently has a consensus rating of “Buy” and a consensus target price of $65.54.
In other Marathon Petroleum news, insider Anthony R. Kenney sold 77,578 shares of the business’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $62.35, for a total value of $4,836,988.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP C. Michael Palmer sold 11,450 shares of the business’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $53.02, for a total transaction of $607,079.00. The disclosure for this sale can be found here. Insiders sold 102,028 shares of company stock valued at $6,253,447 over the last quarter. 1.05% of the stock is owned by company insiders.
ILLEGAL ACTIVITY NOTICE: “Mackenzie Financial Corp Has $34.01 Million Holdings in Marathon Petroleum Corporation (MPC)” was reported by Watch List News and is owned by of Watch List News. If you are reading this story on another publication, it was illegally stolen and reposted in violation of international copyright and trademark law. The correct version of this story can be viewed at https://www.watchlistnews.com/mackenzie-financial-corp-has-34-01-million-holdings-in-marathon-petroleum-corporation-mpc/1747811.html.
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.
Want to see what other hedge funds are holding MPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Petroleum Corporation (NYSE:MPC).
Receive News & Ratings for Marathon Petroleum Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marathon Petroleum Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.