Selway Asset Management boosted its holdings in Marathon Petroleum Corp (NYSE:MPC) by 6.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 49,090 shares of the oil and gas company’s stock after acquiring an additional 2,950 shares during the period. Marathon Petroleum accounts for 2.0% of Selway Asset Management’s holdings, making the stock its 18th biggest position. Selway Asset Management’s holdings in Marathon Petroleum were worth $2,938,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Hanson McClain Inc. acquired a new position in Marathon Petroleum in the 4th quarter valued at $25,000. Certified Advisory Corp grew its holdings in shares of Marathon Petroleum by 71.2% during the 4th quarter. Certified Advisory Corp now owns 476 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 198 shares in the last quarter. Kistler Tiffany Companies LLC acquired a new stake in shares of Marathon Petroleum during the 4th quarter worth $30,000. SeaBridge Investment Advisors LLC acquired a new stake in shares of Marathon Petroleum during the 4th quarter worth $30,000. Finally, Berman Capital Advisors LLC acquired a new stake in shares of Marathon Petroleum during the 4th quarter worth $30,000. Institutional investors and hedge funds own 79.30% of the company’s stock.
Several analysts have recently issued reports on the company. Cowen lowered Marathon Petroleum from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $90.00 to $65.00 in a report on Friday. Royal Bank of Canada reduced their price objective on Marathon Petroleum from $71.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday. Raymond James reduced their price objective on Marathon Petroleum from $90.00 to $85.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, April 10th. Macquarie initiated coverage on Marathon Petroleum in a research note on Tuesday, February 5th. They issued an “outperform” rating and a $67.18 price objective on the stock. Finally, ValuEngine lowered Marathon Petroleum from a “sell” rating to a “strong sell” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. Marathon Petroleum presently has a consensus rating of “Buy” and a consensus target price of $86.83.
Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Wednesday, May 8th. The oil and gas company reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.10). Marathon Petroleum had a return on equity of 12.69% and a net margin of 2.56%. The company had revenue of $28.62 billion for the quarter, compared to the consensus estimate of $27.70 billion. During the same quarter last year, the business earned $0.08 earnings per share. Marathon Petroleum’s revenue was up 50.7% compared to the same quarter last year. On average, research analysts anticipate that Marathon Petroleum Corp will post 5.26 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Thursday, May 16th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.99%. Marathon Petroleum’s dividend payout ratio (DPR) is 31.27%.
In other news, CEO Gary R. Heminger sold 187,142 shares of the firm’s stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $65.00, for a total transaction of $12,164,230.00. Following the completion of the transaction, the chief executive officer now directly owns 434,166 shares in the company, valued at $28,220,790. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.06% of the stock is owned by company 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, Retail, and Midstream. The Refining & Marketing segment refines crude oil and other feed stocks at its 16 refineries in the West Coast, Gulf Coast, and Mid-Continent regions of the United States; and purchases refined products and ethanol for resale.
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