Oder Investment Management LLC Makes New Investment in Marathon Petroleum Corporation (NYSE:MPC)
Oder Investment Management LLC bought a new position in Marathon Petroleum Corporation (NYSE:MPC — Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,525 shares of the oil and gas company’s stock, valued at approximately $805,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. United Capital Management of KS Inc. grew its position in Marathon Petroleum by 6.3% in the 1st quarter. United Capital Management of KS Inc. now owns 44,117 shares of the oil and gas company’s stock worth $6,427,000 after purchasing an additional 2,627 shares during the last quarter. American Century Companies Inc. grew its position in Marathon Petroleum by 18.9% in the 1st quarter. American Century Companies Inc. now owns 338,863 shares of the oil and gas company’s stock worth $49,369,000 after purchasing an additional 53,755 shares during the last quarter. Ethic Inc. grew its position in Marathon Petroleum by 23.1% in the 1st quarter. Ethic Inc. now owns 8,879 shares of the oil and gas company’s stock worth $1,302,000 after purchasing an additional 1,667 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Marathon Petroleum by 2.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 7,977 shares of the oil and gas company’s stock worth $1,162,000 after purchasing an additional 179 shares during the last quarter. Finally, Aberdeen Group plc grew its position in Marathon Petroleum by 81.8% in the 1st quarter. Aberdeen Group plc now owns 139,759 shares of the oil and gas company’s stock worth $20,262,000 after purchasing an additional 62,880 shares during the last quarter. Institutional investors own 76.77% of the company’s stock.
Marathon Petroleum Stock Up 0.1%
MPC stock opened at $162.41 on Friday. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $183.10. The firm has a market cap of $49.38 billion, a PE ratio of 24.10, a P/E/G ratio of 2.95 and a beta of 0.90. The firm has a 50 day simple moving average of $169.42 and a 200 day simple moving average of $154.02. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71.
Marathon Petroleum (NYSE:MPC — Get Free Report) last released its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, beating the consensus estimate of $3.22 by $0.74. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The business had revenue of $34.10 billion during the quarter, compared to analyst estimates of $31.70 billion. During the same period in the prior year, the business earned $4.12 earnings per share. The business’s quarterly revenue was down 11.1% on a year-over-year basis. Equities research analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.
Marathon Petroleum Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Wednesday, August 20th. Marathon Petroleum’s dividend payout ratio is 54.01%.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on MPC shares. Scotiabank reaffirmed an “outperform” rating on shares of Marathon Petroleum in a research note on Friday, July 11th. UBS Group upped their price target on shares of Marathon Petroleum from $175.00 to $203.00 and gave the stock a “buy” rating in a research note on Thursday, July 10th. TD Cowen reduced their price target on shares of Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. Wall Street Zen raised shares of Marathon Petroleum from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Finally, Dbs Bank raised shares of Marathon Petroleum to a “moderate buy” rating in a research note on Monday, July 28th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $185.29.
Read Our Latest Report on Marathon Petroleum
Insider Activity at Marathon Petroleum
In related news, Director Kim K.W. Rucker sold 7,392 shares of the company’s stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total value of $1,293,600.00. Following the completion of the sale, the director owned 18,944 shares in the company, valued at approximately $3,315,200. This represents a 28.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.21% of the company’s stock.
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.
Further Reading
Want to see what other hedge funds are holding MPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Petroleum Corporation (NYSE:MPC — Free Report).
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