Marathon Petroleum Corp (MPC) Holdings Trimmed by Todd Asset Management LLC
Todd Asset Management LLC cut its stake in shares of Marathon Petroleum Corp (NYSE:MPC) by 25.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 492,491 shares of the oil and gas company’s stock after selling 164,096 shares during the period. Marathon Petroleum comprises approximately 1.0% of Todd Asset Management LLC’s investment portfolio, making the stock its 26th largest holding. Todd Asset Management LLC owned 0.11% of Marathon Petroleum worth $34,553,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently modified their holdings of the company. Legacy Financial Advisors Inc. bought a new position in Marathon Petroleum during the 2nd quarter valued at $113,000. Piedmont Investment Advisors LLC lifted its stake in Marathon Petroleum by 88.9% during the 2nd quarter. Piedmont Investment Advisors LLC now owns 45,573 shares of the oil and gas company’s stock valued at $3,197,000 after acquiring an additional 21,451 shares in the last quarter. Pinnacle Financial Partners Inc. lifted its stake in Marathon Petroleum by 462.9% during the 2nd quarter. Pinnacle Financial Partners Inc. now owns 5,629 shares of the oil and gas company’s stock valued at $395,000 after acquiring an additional 4,629 shares in the last quarter. LSV Asset Management raised its stake in shares of Marathon Petroleum by 2.4% during the 2nd quarter. LSV Asset Management now owns 4,426,500 shares of the oil and gas company’s stock worth $310,563,000 after purchasing an additional 102,276 shares during the period. Finally, PGGM Investments raised its stake in shares of Marathon Petroleum by 13.5% during the 2nd quarter. PGGM Investments now owns 596,397 shares of the oil and gas company’s stock worth $41,843,000 after purchasing an additional 70,831 shares during the period. Institutional investors and hedge funds own 81.25% of the company’s stock.
Shares of Marathon Petroleum stock opened at $77.74 on Monday. Marathon Petroleum Corp has a 52-week low of $49.30 and a 52-week high of $83.33. The stock has a market capitalization of $36.50 billion, a P/E ratio of 20.46, a PEG ratio of 1.34 and a beta of 1.40. The company has a current ratio of 1.60, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Thursday, August 16th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date is Wednesday, August 15th. Marathon Petroleum’s payout ratio is presently 48.42%.
A number of equities research analysts have recently commented on MPC shares. Bank of America upgraded Marathon Petroleum from a “neutral” rating to a “buy” rating and set a $88.00 target price on the stock in a research note on Thursday, May 10th. Jefferies Financial Group upgraded Marathon Petroleum from a “hold” rating to a “buy” rating and lifted their target price for the stock from $75.00 to $95.00 in a research note on Thursday, May 3rd. Zacks Investment Research upgraded Marathon Petroleum from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research note on Sunday, July 15th. ValuEngine cut Marathon Petroleum from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 6th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $87.00 target price on shares of Marathon Petroleum in a research note on Friday, July 27th. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Marathon Petroleum currently has an average rating of “Buy” and a consensus target price of $85.47.
In other Marathon Petroleum news, insider Thomas M. Kelley sold 24,818 shares of Marathon Petroleum stock in a transaction dated Wednesday, May 30th. The stock was sold at an average price of $79.47, for a total transaction of $1,972,286.46. Following the completion of the transaction, the insider now owns 51,869 shares of the company’s stock, valued at approximately $4,122,029.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.09% of the stock is owned by insiders.
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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