Crossmark Global Holdings Inc. boosted its holdings in shares of Marathon Petroleum Corp (NYSE:MPC) by 14.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 71,519 shares of the oil and gas company’s stock after buying an additional 8,762 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Marathon Petroleum were worth $4,309,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. BlackRock Inc. grew its position in Marathon Petroleum by 2.3% during the second quarter. BlackRock Inc. now owns 56,398,616 shares of the oil and gas company’s stock valued at $3,151,555,000 after buying an additional 1,251,901 shares during the period. State Street Corp grew its position in Marathon Petroleum by 1.1% during the fourth quarter. State Street Corp now owns 32,387,849 shares of the oil and gas company’s stock valued at $1,951,368,000 after buying an additional 365,638 shares during the period. Boston Partners grew its position in Marathon Petroleum by 32.8% during the fourth quarter. Boston Partners now owns 17,001,761 shares of the oil and gas company’s stock valued at $1,024,564,000 after buying an additional 4,194,733 shares during the period. Millennium Management LLC grew its position in Marathon Petroleum by 8,399.2% during the third quarter. Millennium Management LLC now owns 4,380,729 shares of the oil and gas company’s stock valued at $266,129,000 after buying an additional 4,329,186 shares during the period. Finally, US Bancorp DE grew its position in Marathon Petroleum by 2.8% during the fourth quarter. US Bancorp DE now owns 2,119,533 shares of the oil and gas company’s stock valued at $127,702,000 after buying an additional 57,342 shares during the period. Institutional investors own 76.04% of the company’s stock.
MPC has been the subject of several recent research reports. JPMorgan Chase & Co. lowered shares of Marathon Petroleum from an “overweight” rating to a “neutral” rating and set a $67.00 target price for the company. in a research report on Monday, December 9th. Cfra lowered shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Credit Suisse Group dropped their price target on shares of Marathon Petroleum from $80.00 to $75.00 and set an “outperform” rating for the company in a research report on Tuesday, January 21st. They noted that the move was a valuation call. ValuEngine upgraded shares of Marathon Petroleum from a “sell” rating to a “hold” rating in a research report on Tuesday, December 3rd. Finally, Zacks Investment Research upgraded shares of Marathon Petroleum from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a research report on Monday, December 16th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $73.73.
Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Wednesday, January 29th. The oil and gas company reported $1.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.71. The business had revenue of $31.38 billion during the quarter, compared to analyst estimates of $30.07 billion. Marathon Petroleum had a net margin of 2.11% and a return on equity of 7.42%. The company’s revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.41 earnings per share. Equities analysts anticipate that Marathon Petroleum Corp will post 6.75 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 19th will be given a $0.58 dividend. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.53. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date is Tuesday, February 18th. Marathon Petroleum’s dividend payout ratio is presently 42.91%.
Marathon Petroleum Profile
Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing; Retail; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals and trucks that the company owns or operates.
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