Kensico Capital Management Corp Has $443.57 Million Holdings in Marathon Petroleum Corporation (MPC)
Kensico Capital Management Corp lowered its stake in Marathon Petroleum Corporation (NYSE:MPC) by 12.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,909,500 shares of the oil and gas company’s stock after selling 1,143,500 shares during the period. Marathon Petroleum comprises 6.7% of Kensico Capital Management Corp’s investment portfolio, making the stock its 5th biggest position. Kensico Capital Management Corp owned approximately 1.62% of Marathon Petroleum worth $443,565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Blue Chip Partners Inc. acquired a new stake in Marathon Petroleum in the 2nd quarter valued at about $100,000. First Interstate Bank raised its position in Marathon Petroleum by 81.1% in the 2nd quarter. First Interstate Bank now owns 2,376 shares of the oil and gas company’s stock valued at $124,000 after purchasing an additional 1,064 shares in the last quarter. Crow Point Partners LLC acquired a new stake in Marathon Petroleum in the 3rd quarter valued at about $128,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Marathon Petroleum during the 3rd quarter worth about $135,000. Finally, ClariVest Asset Management LLC acquired a new stake in shares of Marathon Petroleum during the 2nd quarter worth about $143,000. 80.83% of the stock is currently owned by institutional investors.
Several brokerages have recently weighed in on MPC. Jefferies Group set a $65.00 target price on Marathon Petroleum and gave the stock a “buy” rating in a research report on Friday, August 25th. BidaskClub lowered Marathon Petroleum from a “hold” rating to a “sell” rating in a research report on Saturday, August 19th. Zacks Investment Research lowered Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Wednesday, November 22nd. Goldman Sachs Group lowered Marathon Petroleum from a “buy” rating to a “neutral” rating and set a $63.00 target price on the stock. in a research report on Tuesday, October 3rd. They noted that the move was a valuation call. Finally, UBS lowered Marathon Petroleum from a “buy” rating to a “neutral” rating and raised their target price for the stock from $63.00 to $65.00 in a research report on Wednesday, November 15th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Marathon Petroleum has a consensus rating of “Buy” and a consensus price target of $66.25.
Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Thursday, October 26th. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.29. The firm had revenue of $19.36 billion for the quarter, compared to the consensus estimate of $19.38 billion. Marathon Petroleum had a return on equity of 8.52% and a net margin of 2.35%. The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.58 EPS. analysts expect that Marathon Petroleum Corporation will post 3.83 earnings per share for the current fiscal 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 dividend of $0.40 per share. The ex-dividend date is Wednesday, November 15th. This represents a $1.60 dividend on an annualized basis and a yield of 2.47%. Marathon Petroleum’s dividend payout ratio is presently 49.08%.
In related news, VP Raymond L. Brooks sold 13,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $62.26, for a total transaction of $809,380.00. Following the transaction, the vice president now owns 32,205 shares in the company, valued at approximately $2,005,083.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Anthony R. Kenney sold 77,578 shares of the firm’s stock in a transaction that occurred 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. Insiders have sold a total of 102,028 shares of company stock worth $6,253,447 in the last 90 days. 1.05% of the stock is currently owned by company insiders.
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Marathon Petroleum 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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