Trust Point Inc. raised its holdings in shares of Marathon Petroleum Co. (NYSE:MPC – Free Report) by 8.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,060 shares of the oil and gas company’s stock after buying an additional 405 shares during the period. Trust Point Inc.’s holdings in Marathon Petroleum were worth $706,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted its position in Marathon Petroleum by 1,204.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 543,062 shares of the oil and gas company’s stock worth $75,757,000 after purchasing an additional 501,441 shares during the period. Oppenheimer Asset Management Inc. grew its stake in shares of Marathon Petroleum by 27.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 43,174 shares of the oil and gas company’s stock valued at $7,033,000 after buying an additional 9,355 shares in the last quarter. Wilmington Savings Fund Society FSB raised its holdings in shares of Marathon Petroleum by 747.3% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 21,275 shares of the oil and gas company’s stock valued at $3,466,000 after buying an additional 18,764 shares during the period. Holistic Planning LLC purchased a new position in Marathon Petroleum in the 3rd quarter worth approximately $912,000. Finally, World Investment Advisors LLC grew its position in Marathon Petroleum by 4,227.5% in the third quarter. World Investment Advisors LLC now owns 69,759 shares of the oil and gas company’s stock valued at $11,364,000 after acquiring an additional 68,147 shares in the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Marathon Petroleum
In other news, Director Jeffrey C. Campbell bought 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were purchased at an average price of $149.61 per share, with a total value of $897,660.00. Following the completion of the acquisition, the director now directly owns 6,090 shares in the company, valued at approximately $911,124.90. This trade represents a 6,666.67 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.21% of the company’s stock.
Wall Street Analyst Weigh In
Check Out Our Latest Stock Report on MPC
Marathon Petroleum Stock Up 6.7 %
NYSE:MPC opened at $156.90 on Wednesday. The firm has a market capitalization of $50.42 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 2.77 and a beta of 1.41. Marathon Petroleum Co. has a 52 week low of $130.54 and a 52 week high of $221.11. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. The stock has a 50 day moving average of $146.07 and a 200-day moving average of $157.84.
Marathon Petroleum (NYSE:MPC – Get Free Report) last issued its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.71. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The firm had revenue of $33.47 billion for the quarter, compared to analyst estimates of $31.94 billion. During the same period last year, the company earned $3.98 earnings per share. The firm’s revenue for the quarter was down 9.1% on a year-over-year basis. Analysts predict that Marathon Petroleum Co. will post 8.88 EPS for the current year.
Marathon Petroleum announced that its Board of Directors has authorized a stock buyback plan on Tuesday, November 5th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the oil and gas company to reacquire up to 10% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
Marathon Petroleum Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 19th will be paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio is currently 28.84%.
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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