Stratos Wealth Partners LTD. Raises Stake in Marathon Petroleum Corporation (MPC)
Stratos Wealth Partners LTD. increased its position in Marathon Petroleum Corporation (NYSE:MPC) by 21.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,213 shares of the oil and gas company’s stock after buying an additional 2,667 shares during the period. Stratos Wealth Partners LTD.’s holdings in Marathon Petroleum Corporation were worth $853,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Chip Partners Inc. acquired a new stake in shares of Marathon Petroleum Corporation in the 2nd quarter valued at about $100,000. Lee Financial Co lifted its position in Marathon Petroleum Corporation by 2.4% in the 2nd quarter. Lee Financial Co now owns 2,048 shares of the oil and gas company’s stock valued at $107,000 after acquiring an additional 48 shares in the last quarter. Crow Point Partners LLC bought a new position in Marathon Petroleum Corporation in the 3rd quarter valued at about $128,000. First Interstate Bank lifted its position in Marathon Petroleum Corporation by 81.1% in the 2nd quarter. First Interstate Bank now owns 2,376 shares of the oil and gas company’s stock valued at $124,000 after acquiring an additional 1,064 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC bought a new position in Marathon Petroleum Corporation in the 3rd quarter valued at about $135,000. Institutional investors own 81.02% of the company’s stock.
Marathon Petroleum Corporation (NYSE:MPC) traded up $0.26 during trading on Friday, hitting $62.27. 2,980,762 shares of the company’s stock traded hands, compared to its average volume of 4,402,448. Marathon Petroleum Corporation has a 1 year low of $42.57 and a 1 year high of $63.41. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.80 and a current ratio of 1.52. The company has a market cap of $30,290.00, a PE ratio of 19.11, a P/E/G ratio of 1.59 and a beta of 1.60.
Marathon Petroleum Corporation (NYSE:MPC) last posted its earnings results on Thursday, October 26th. The oil and gas company reported $1.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.48 by $0.29. Marathon Petroleum Corporation had a net margin of 2.35% and a return on equity of 8.52%. The firm had revenue of $19.36 billion for the quarter, compared to analysts’ expectations of $19.38 billion. During the same quarter last year, the firm earned $0.58 EPS. The company’s quarterly revenue was up 17.6% compared to the same quarter last year. sell-side analysts expect that Marathon Petroleum Corporation will post 3.59 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Thursday, November 16th will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, November 15th. This represents a $1.60 annualized dividend and a dividend yield of 2.57%. Marathon Petroleum Corporation’s payout ratio is currently 50.00%.
In other news, insider Anthony R. Kenney sold 77,578 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $62.35, for a total transaction of $4,836,988.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP C. Michael Palmer sold 11,450 shares of the firm’s stock in a transaction that occurred 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. Company insiders own 1.05% of the company’s stock.
Several brokerages recently weighed in on MPC. Cowen and Company raised their price target on shares of Marathon Petroleum Corporation from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, July 27th. BidaskClub cut shares of Marathon Petroleum Corporation from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 9th. Zacks Investment Research cut shares of Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. UBS AG cut shares of Marathon Petroleum Corporation from a “buy” rating to a “neutral” rating and raised their price target for the company from $63.00 to $65.00 in a research report on Wednesday. Finally, The Goldman Sachs Group, Inc. cut shares of Marathon Petroleum Corporation from a “buy” rating to a “neutral” rating and set a $63.00 price target on the stock. in a research report on Tuesday, October 3rd. They noted that the move was a valuation call. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $65.07.
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Marathon Petroleum Corporation Company 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.
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