Kiwi Wealth Investments Limited Partnership Invests $917,000 in Marathon Petroleum Corporation (MPC) Stock
Kiwi Wealth Investments Limited Partnership purchased a new position in Marathon Petroleum Corporation (NYSE:MPC) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 16,360 shares of the oil and gas company’s stock, valued at approximately $917,000.
Other institutional investors also recently made changes to their positions in the company. Blue Chip Partners Inc. purchased a new position in Marathon Petroleum Corporation in the 2nd quarter worth approximately $100,000. Lee Financial Co increased its stake in Marathon Petroleum Corporation by 2.4% in the 2nd quarter. Lee Financial Co now owns 2,048 shares of the oil and gas company’s stock worth $107,000 after purchasing an additional 48 shares during the period. Crow Point Partners LLC purchased a new position in Marathon Petroleum Corporation in the 3rd quarter worth approximately $128,000. First Interstate Bank increased its stake in Marathon Petroleum Corporation by 81.1% in the 2nd quarter. First Interstate Bank now owns 2,376 shares of the oil and gas company’s stock worth $124,000 after purchasing an additional 1,064 shares during the period. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in Marathon Petroleum Corporation in the 3rd quarter worth approximately $135,000. 81.02% of the stock is currently owned by institutional investors and hedge funds.
In other Marathon Petroleum Corporation news, VP C. Michael Palmer sold 11,450 shares of the business’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $53.02, for a total value of $607,079.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Anthony R. Kenney sold 77,578 shares of the business’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $62.35, for a total value of $4,836,988.30. The disclosure for this sale can be found here. 1.05% of the stock is owned by corporate insiders.
Shares of Marathon Petroleum Corporation (NYSE:MPC) traded down $0.97 during mid-day trading on Thursday, reaching $61.50. The company had a trading volume of 4,743,600 shares, compared to its average volume of 4,409,813. The stock has a market capitalization of $30,220.00, a PE ratio of 19.11, a price-to-earnings-growth ratio of 1.59 and a beta of 1.60. Marathon Petroleum Corporation has a 12 month low of $42.57 and a 12 month high of $63.41. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.80 and a current ratio of 1.52.
Marathon Petroleum Corporation (NYSE:MPC) last issued its quarterly earnings results on Thursday, October 26th. The oil and gas company reported $1.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.48 by $0.29. The company had revenue of $19.36 billion for the quarter, compared to analysts’ expectations of $19.38 billion. Marathon Petroleum Corporation had a return on equity of 8.52% and a net margin of 2.35%. The firm’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.58 earnings per share. equities research analysts predict that Marathon Petroleum Corporation will post 3.59 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Thursday, November 16th will be paid a $0.40 dividend. The ex-dividend date is Wednesday, November 15th. This represents a $1.60 annualized dividend and a yield of 2.60%. Marathon Petroleum Corporation’s payout ratio is 50.00%.
A number of brokerages have commented on MPC. Zacks Investment Research raised Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. BidaskClub raised Marathon Petroleum Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 1st. UBS AG cut Marathon Petroleum Corporation from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $63.00 to $65.00 in a research note on Wednesday. Cowen and Company reaffirmed a “buy” rating on shares of Marathon Petroleum Corporation in a research note on Tuesday. Finally, Barclays PLC lifted their price target on Marathon Petroleum Corporation from $63.00 to $76.00 and gave the stock an “overweight” rating in a research note on Tuesday. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $65.07.
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Marathon Petroleum Corporation Profile
Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.
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