AG2R LA Mondiale Gestion D Actifs Acquires Shares of 41,853 Marathon Petroleum Corporation $MPC
AG2R LA Mondiale Gestion D Actifs purchased a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC — Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 41,853 shares of the oil and gas company’s stock, valued at approximately $6,727,000.
A number of other institutional investors have also recently made changes to their positions in the stock. First Hawaiian Bank boosted its holdings in shares of Marathon Petroleum by 2.1% during the 1st quarter. First Hawaiian Bank now owns 13,357 shares of the oil and gas company’s stock valued at $1,946,000 after acquiring an additional 278 shares during the last quarter. Modern Wealth Management LLC boosted its holdings in shares of Marathon Petroleum by 11.7% in the first quarter. Modern Wealth Management LLC now owns 2,494 shares of the oil and gas company’s stock worth $363,000 after buying an additional 262 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Marathon Petroleum by 21.0% in the first quarter. Jones Financial Companies Lllp now owns 293,314 shares of the oil and gas company’s stock worth $42,353,000 after buying an additional 50,972 shares during the last quarter. Strs Ohio purchased a new position in shares of Marathon Petroleum in the first quarter worth approximately $10,471,000. Finally, Turn8 Private Wealth Inc. boosted its holdings in shares of Marathon Petroleum by 7.1% in the first quarter. Turn8 Private Wealth Inc. now owns 21,730 shares of the oil and gas company’s stock worth $3,166,000 after buying an additional 1,444 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.
Marathon Petroleum Trading Up 0.2%
MPC stock opened at $182.14 on Friday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23. The firm has a fifty day moving average price of $172.65 and a 200 day moving average price of $156.93. The firm has a market cap of $55.37 billion, a PE ratio of 27.02, a price-to-earnings-growth ratio of 3.67 and a beta of 0.97. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $186.28.
Marathon Petroleum (NYSE:MPC — Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, topping the consensus estimate of $3.22 by $0.74. The company had revenue of $34.10 billion during the quarter, compared to analyst estimates of $31.70 billion. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. Marathon Petroleum’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.12 earnings per share. Sell-side analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.
Marathon Petroleum Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th were paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Wednesday, August 20th. Marathon Petroleum’s payout ratio is currently 54.01%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on MPC shares. TD Cowen dropped their price objective on shares of Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Bank of America raised their target price on shares of Marathon Petroleum from $184.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 3rd. Wells Fargo & Company raised their target price on shares of Marathon Petroleum from $182.00 to $205.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. Dbs Bank upgraded shares of Marathon Petroleum to a “moderate buy” rating in a research report on Monday, July 28th. Finally, Morgan Stanley lifted their price objective on shares of Marathon Petroleum from $160.00 to $182.00 and gave the company an “overweight” rating in a research report on Wednesday, July 16th. Eight research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $189.36.
Insiders Place Their Bets
In other news, insider Molly R. Benson sold 10,879 shares of the business’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the completion of the sale, the insider directly owned 28,700 shares of the company’s stock, valued at approximately $4,678,100. The trade was a 27.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kim K.W. Rucker sold 7,392 shares of the business’s stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the sale, the director directly owned 18,944 shares of the company’s stock, valued at $3,315,200. This represents a 28.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.
About Marathon Petroleum
Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.
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