River Road Asset Management LLC Raises Holdings in Marathon Petroleum Corp (MPC)
River Road Asset Management LLC raised its stake in shares of Marathon Petroleum Corp (NYSE:MPC) by 8.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,815,306 shares of the oil and gas company’s stock after buying an additional 138,294 shares during the period. Marathon Petroleum comprises about 2.3% of River Road Asset Management LLC’s investment portfolio, making the stock its biggest holding. River Road Asset Management LLC’s holdings in Marathon Petroleum were worth $119,774,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its stake in shares of Marathon Petroleum by 0.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,103,034 shares of the oil and gas company’s stock valued at $342,221,000 after purchasing an additional 35,033 shares during the last quarter. Prudential Financial Inc. lifted its stake in shares of Marathon Petroleum by 61.6% in the 3rd quarter. Prudential Financial Inc. now owns 3,987,706 shares of the oil and gas company’s stock valued at $223,630,000 after purchasing an additional 1,520,471 shares during the last quarter. LSV Asset Management lifted its stake in shares of Marathon Petroleum by 10.7% in the 4th quarter. LSV Asset Management now owns 3,485,024 shares of the oil and gas company’s stock valued at $229,941,000 after purchasing an additional 335,930 shares during the last quarter. APG Asset Management N.V. lifted its stake in shares of Marathon Petroleum by 10.2% in the 4th quarter. APG Asset Management N.V. now owns 3,263,117 shares of the oil and gas company’s stock valued at $179,298,000 after purchasing an additional 301,326 shares during the last quarter. Finally, Third Point LLC acquired a new stake in shares of Marathon Petroleum in the 3rd quarter valued at $154,220,000. 80.78% of the stock is owned by institutional investors.
In other news, VP Rodney P. Nichols sold 6,374 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $64.93, for a total transaction of $413,863.82. Following the transaction, the vice president now owns 74,674 shares in the company, valued at approximately $4,848,582.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP C. Michael Palmer sold 17,298 shares of the business’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $64.55, for a total transaction of $1,116,585.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 72,276 shares of company stock valued at $4,645,189. Company insiders own 1.05% of the company’s stock.
Marathon Petroleum (NYSE:MPC) last released its earnings results on Thursday, February 1st. The oil and gas company reported $1.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.05. The firm had revenue of $21.24 billion during the quarter, compared to analyst estimates of $17.27 billion. Marathon Petroleum had a net margin of 4.60% and a return on equity of 10.04%. The business’s revenue was up 22.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.43 EPS. equities research analysts anticipate that Marathon Petroleum Corp will post 5.1 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Wednesday, February 21st will be given a dividend of $0.46 per share. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.40. The ex-dividend date is Tuesday, February 20th. This represents a $1.84 dividend on an annualized basis and a yield of 2.83%. Marathon Petroleum’s payout ratio is currently 23.12%.
Several research firms recently issued reports on MPC. Zacks Investment Research raised shares of Marathon Petroleum from a “hold” rating to a “strong-buy” rating and set a $81.00 price objective for the company in a research note on Tuesday, January 16th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $89.00 price objective on shares of Marathon Petroleum in a research note on Tuesday, January 30th. Scotiabank reaffirmed a “hold” rating and issued a $75.00 price objective on shares of Marathon Petroleum in a research note on Wednesday, January 10th. ValuEngine raised shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. Finally, Citigroup reaffirmed a “buy” rating and issued a $79.00 price objective on shares of Marathon Petroleum in a research note on Friday, February 2nd. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Marathon Petroleum currently has an average rating of “Buy” and an average target price of $74.08.
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About Marathon Petroleum
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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