Private Advisor Group LLC Grows Stake in Marathon Petroleum Corp (NYSE:MPC)
Private Advisor Group LLC lifted its holdings in Marathon Petroleum Corp (NYSE:MPC) by 14.1% during the first quarter, HoldingsChannel.com reports. The fund owned 30,986 shares of the oil and gas company’s stock after buying an additional 3,826 shares during the quarter. Private Advisor Group LLC’s holdings in Marathon Petroleum were worth $1,776,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also added to or reduced their stakes in MPC. BlackRock Inc. increased its stake in shares of Marathon Petroleum by 36.6% in the fourth quarter. BlackRock Inc. now owns 54,581,132 shares of the oil and gas company’s stock worth $3,220,832,000 after acquiring an additional 14,619,755 shares during the period. Oregon Public Employees Retirement Fund increased its stake in shares of Marathon Petroleum by 9,095.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 14,042,197 shares of the oil and gas company’s stock worth $238,000 after acquiring an additional 13,889,489 shares during the period. Norges Bank acquired a new stake in shares of Marathon Petroleum in the fourth quarter worth $462,677,000. Boston Partners increased its stake in shares of Marathon Petroleum by 81.9% in the fourth quarter. Boston Partners now owns 12,173,365 shares of the oil and gas company’s stock worth $718,350,000 after acquiring an additional 5,479,818 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Marathon Petroleum by 70.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,065,459 shares of the oil and gas company’s stock worth $593,940,000 after acquiring an additional 4,153,879 shares during the period. Hedge funds and other institutional investors own 77.57% of the company’s stock.
MPC stock traded down $0.59 during midday trading on Wednesday, hitting $47.18. 158,385 shares of the stock traded hands, compared to its average volume of 6,887,816. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.55 and a current ratio of 1.20. The firm has a market cap of $31.98 billion, a PE ratio of 6.99, a P/E/G ratio of 1.09 and a beta of 1.52. Marathon Petroleum Corp has a 1-year low of $45.47 and a 1-year high of $88.45.
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Thursday, May 16th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 4.49%. The ex-dividend date was Wednesday, May 15th. Marathon Petroleum’s payout ratio is 31.27%.
MPC has been the topic of a number of research reports. Citigroup cut their price objective on shares of Marathon Petroleum from $91.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, March 4th. Credit Suisse Group cut their price objective on shares of Marathon Petroleum from $95.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, May 13th. Cowen restated an “outperform” rating and set a $90.00 price target (down previously from $101.00) on shares of Marathon Petroleum in a research report on Monday, May 6th. Morgan Stanley dropped their price target on shares of Marathon Petroleum from $82.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, May 17th. Finally, Wells Fargo & Co dropped their price target on shares of Marathon Petroleum from $96.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $85.68.
In related news, insider Donald C. Templin acquired 5,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were acquired at an average cost of $50.74 per share, with a total value of $253,700.00. Following the completion of the acquisition, the insider now directly owns 93,182 shares in the company, valued at approximately $4,728,054.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 1.06% of the company’s stock.
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About Marathon Petroleum
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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