Corebridge Financial Inc. Has $10.27 Million Stake in Marathon Petroleum Corporation $MPC
Corebridge Financial Inc. decreased its stake in Marathon Petroleum Corporation (NYSE:MPC — Free Report) by 4.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 70,479 shares of the oil and gas company’s stock after selling 3,387 shares during the quarter. Corebridge Financial Inc.’s holdings in Marathon Petroleum were worth $10,268,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Beverly Hills Private Wealth LLC lifted its stake in Marathon Petroleum by 1.2% in the fourth quarter. Beverly Hills Private Wealth LLC now owns 6,655 shares of the oil and gas company’s stock valued at $928,000 after buying an additional 76 shares during the period. Sunpointe LLC raised its position in shares of Marathon Petroleum by 5.1% during the first quarter. Sunpointe LLC now owns 1,681 shares of the oil and gas company’s stock worth $245,000 after purchasing an additional 81 shares during the period. Valmark Advisers Inc. raised its position in shares of Marathon Petroleum by 2.3% during the first quarter. Valmark Advisers Inc. now owns 3,801 shares of the oil and gas company’s stock worth $554,000 after purchasing an additional 86 shares during the period. Southland Equity Partners LLC raised its position in shares of Marathon Petroleum by 6.2% during the first quarter. Southland Equity Partners LLC now owns 1,549 shares of the oil and gas company’s stock worth $226,000 after purchasing an additional 90 shares during the period. Finally, Prudent Man Advisors LLC raised its position in shares of Marathon Petroleum by 2.3% during the first quarter. Prudent Man Advisors LLC now owns 4,056 shares of the oil and gas company’s stock worth $591,000 after purchasing an additional 91 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.
Insiders Place Their Bets
In related news, insider Molly R. Benson sold 10,879 shares of the business’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the sale, the insider owned 28,700 shares in the company, valued at $4,678,100. The trade was a 27.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kim K.W. Rucker sold 7,392 shares of the business’s stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total value of $1,293,600.00. Following the sale, the director owned 18,944 shares in the company, valued at $3,315,200. This represents a 28.07% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have weighed in on the company. Dbs Bank upgraded Marathon Petroleum to a “moderate buy” rating in a research note on Monday, July 28th. Piper Sandler raised their price objective on Marathon Petroleum from $175.00 to $182.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Wall Street Zen raised Marathon Petroleum from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. TD Cowen dropped their price target on Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. Finally, Citigroup lifted their price target on Marathon Petroleum from $144.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. Eight investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $185.29.
Check Out Our Latest Research Report on MPC
Marathon Petroleum Trading Up 2.5%
Shares of MPC opened at $177.78 on Thursday. The firm has a market cap of $54.05 billion, a price-to-earnings ratio of 26.38, a PEG ratio of 3.15 and a beta of 0.90. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $183.10. 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 business’s fifty day moving average is $169.99 and its 200-day moving average is $155.00.
Marathon Petroleum (NYSE:MPC — Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share for the quarter, topping analysts’ consensus estimates of $3.22 by $0.74. The business had revenue of $34.10 billion for the quarter, compared to analyst estimates of $31.70 billion. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.Marathon Petroleum’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.12 EPS. Equities analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.
Marathon Petroleum Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th will be given a dividend of $0.91 per share. The ex-dividend date is Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a yield of 2.0%. Marathon Petroleum’s payout ratio is currently 54.01%.
Marathon Petroleum Profile
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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