Marathon Petroleum Corp (MPC) Shares Bought by Strategic Wealth Partners Ltd.
Strategic Wealth Partners Ltd. increased its stake in Marathon Petroleum Corp (NYSE:MPC) by 7.9% in the third quarter, HoldingsChannel.com reports. The firm owned 17,183 shares of the oil and gas company’s stock after purchasing an additional 1,251 shares during the quarter. Strategic Wealth Partners Ltd.’s holdings in Marathon Petroleum were worth $1,374,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in MPC. Greenleaf Trust boosted its stake in shares of Marathon Petroleum by 10.1% during the 2nd quarter. Greenleaf Trust now owns 6,953 shares of the oil and gas company’s stock worth $488,000 after buying an additional 635 shares during the last quarter. MUFG Americas Holdings Corp boosted its stake in shares of Marathon Petroleum by 2.4% during the 2nd quarter. MUFG Americas Holdings Corp now owns 27,240 shares of the oil and gas company’s stock worth $1,911,000 after buying an additional 639 shares during the last quarter. Shikiar Asset Management Inc. boosted its stake in shares of Marathon Petroleum by 1.4% during the 3rd quarter. Shikiar Asset Management Inc. now owns 55,325 shares of the oil and gas company’s stock worth $4,424,000 after buying an additional 750 shares during the last quarter. GWM Advisors LLC boosted its stake in shares of Marathon Petroleum by 16.8% during the 3rd quarter. GWM Advisors LLC now owns 5,274 shares of the oil and gas company’s stock worth $422,000 after buying an additional 757 shares during the last quarter. Finally, IFP Advisors Inc boosted its stake in shares of Marathon Petroleum by 3.3% during the 3rd quarter. IFP Advisors Inc now owns 24,145 shares of the oil and gas company’s stock worth $1,931,000 after buying an additional 769 shares during the last quarter. 83.16% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Marathon Petroleum from a “hold” rating to a “buy” rating and set a $94.00 price objective for the company in a research note on Tuesday, October 9th. Wells Fargo & Co restated a “buy” rating on shares of Marathon Petroleum in a research note on Monday, August 27th. Barclays assumed coverage on shares of Marathon Petroleum in a research note on Wednesday, October 3rd. They set an “overweight” rating and a $125.00 price objective for the company. Citigroup increased their price objective on shares of Marathon Petroleum from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, September 7th. Finally, Goldman Sachs Group assumed coverage on shares of Marathon Petroleum in a research note on Tuesday, October 2nd. They set a “conviction-buy” rating for the company. Three 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 stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $92.93.
Marathon Petroleum (NYSE:MPC) last issued its 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 company had revenue of $23.13 billion for the quarter, compared to analysts’ expectations of $23.20 billion. Marathon Petroleum had a net margin of 4.48% and a return on equity of 12.28%. Marathon Petroleum’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.77 EPS. Sell-side analysts predict that Marathon Petroleum Corp will post 5.12 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Wednesday, November 21st will be issued a $0.46 dividend. The ex-dividend date is Tuesday, November 20th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.92%. Marathon Petroleum’s payout ratio is 48.42%.
In other news, Director Steven A. Davis bought 2,500 shares of the company’s stock in a transaction dated Monday, November 19th. The shares were bought at an average cost of $62.20 per share, with a total value of $155,500.00. Following the acquisition, the director now owns 16,462 shares in the company, valued at $1,023,936.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.09% of the stock is currently owned by corporate insiders.
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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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