Paradigm Asset Management Co. LLC Buys 8,100 Shares of Marathon Petroleum Corporation $MPC
Paradigm Asset Management Co. LLC grew its position in Marathon Petroleum Corporation (NYSE:MPC — Free Report) by 114.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 15,200 shares of the oil and gas company’s stock after acquiring an additional 8,100 shares during the period. Marathon Petroleum accounts for approximately 0.6% of Paradigm Asset Management Co. LLC’s investment portfolio, making the stock its 29th biggest position. Paradigm Asset Management Co. LLC’s holdings in Marathon Petroleum were worth $2,525,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the business. Brighton Jones LLC raised its position in shares of Marathon Petroleum by 30.9% during the fourth quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock worth $696,000 after acquiring an additional 1,178 shares during the last quarter. Brown Advisory Inc. raised its holdings in shares of Marathon Petroleum by 2.3% during the first quarter. Brown Advisory Inc. now owns 6,102 shares of the oil and gas company’s stock valued at $889,000 after purchasing an additional 137 shares during the period. Greenleaf Trust boosted its position in shares of Marathon Petroleum by 3.5% during the 1st quarter. Greenleaf Trust now owns 11,196 shares of the oil and gas company’s stock worth $1,631,000 after purchasing an additional 382 shares in the last quarter. Allworth Financial LP raised its stake in Marathon Petroleum by 7.6% during the 1st quarter. Allworth Financial LP now owns 13,233 shares of the oil and gas company’s stock worth $1,820,000 after buying an additional 931 shares during the period. Finally, Joseph Group Capital Management raised its position in shares of Marathon Petroleum by 11.5% during the first quarter. Joseph Group Capital Management now owns 21,837 shares of the oil and gas company’s stock worth $3,181,000 after purchasing an additional 2,259 shares during the period. Institutional investors own 76.77% of the company’s stock.
Marathon Petroleum Stock Up 0.6%
MPC stock opened at $193.78 on Friday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.71 and a current ratio of 1.32. The company has a market cap of $58.25 billion, a price-to-earnings ratio of 20.66, a P/E/G ratio of 3.78 and a beta of 0.90. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $201.61. The business’s 50-day moving average is $187.86 and its two-hundred day moving average is $171.88.
Marathon Petroleum (NYSE:MPC — Get Free Report) last released its earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.00 by $0.01. Marathon Petroleum had a net margin of 2.13% and a return on equity of 9.76%. The company had revenue of $34.81 billion during the quarter, compared to analyst estimates of $31.06 billion. As a group, analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.
Marathon Petroleum Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Wednesday, November 19th will be paid a dividend of $1.00 per share. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $4.00 annualized dividend and a yield of 2.1%. Marathon Petroleum’s dividend payout ratio is 42.64%.
Insiders Place Their Bets
In other news, insider Molly R. Benson sold 10,879 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider owned 28,700 shares in the company, valued at $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.21% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have commented on MPC shares. Mizuho boosted their price objective on Marathon Petroleum from $184.00 to $188.00 and gave the stock a “neutral” rating in a report on Monday, September 15th. Wells Fargo & Company cut their target price on Marathon Petroleum from $214.00 to $213.00 and set an “overweight” rating for the company in a research note on Wednesday. BMO Capital Markets raised their target price on shares of Marathon Petroleum from $195.00 to $208.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Scotiabank reissued an “outperform” rating on shares of Marathon Petroleum in a report on Thursday, October 9th. Finally, Wolfe Research lowered shares of Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 14th. Eight analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $200.00.
Get Our Latest Stock Report on Marathon Petroleum
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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