SeaCrest Wealth Management LLC Invests $254,000 in Marathon Petroleum Corp (MPC)
SeaCrest Wealth Management LLC purchased a new stake in shares of Marathon Petroleum Corp (NYSE:MPC) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 3,856 shares of the oil and gas company’s stock, valued at approximately $254,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in shares of Marathon Petroleum by 0.6% during the third quarter. Dimensional Fund Advisors LP now owns 6,103,034 shares of the oil and gas company’s stock valued at $342,221,000 after acquiring an additional 35,033 shares during the period. Prudential Financial Inc. boosted its holdings in shares of Marathon Petroleum by 61.6% during the third quarter. Prudential Financial Inc. now owns 3,987,706 shares of the oil and gas company’s stock valued at $223,630,000 after acquiring an additional 1,520,471 shares during the period. LSV Asset Management boosted its holdings in shares of Marathon Petroleum by 10.7% during the fourth quarter. LSV Asset Management now owns 3,485,024 shares of the oil and gas company’s stock valued at $229,941,000 after acquiring an additional 335,930 shares during the period. APG Asset Management N.V. boosted its holdings in shares of Marathon Petroleum by 10.2% during the fourth quarter. APG Asset Management N.V. now owns 3,263,117 shares of the oil and gas company’s stock valued at $179,298,000 after acquiring an additional 301,326 shares during the period. Finally, Third Point LLC acquired a new position in shares of Marathon Petroleum during the third quarter valued at $154,220,000. 80.78% of the stock is owned by institutional investors.
Shares of Marathon Petroleum Corp (MPC) opened at $63.84 on Friday. The firm has a market cap of $31,026.24, a PE ratio of 16.33, a P/E/G ratio of 0.88 and a beta of 1.49. Marathon Petroleum Corp has a 1-year low of $47.78 and a 1-year high of $73.53. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.52 and a quick ratio of 0.80.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Wednesday, February 21st will be given a $0.46 dividend. The ex-dividend date is Tuesday, February 20th. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.40. This represents a $1.84 annualized dividend and a yield of 2.88%. Marathon Petroleum’s payout ratio is 23.12%.
In other Marathon Petroleum news, VP C. Michael Palmer sold 17,298 shares of the business’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $64.55, for a total value of $1,116,585.90. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Raymond L. Brooks sold 13,000 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $62.26, for a total transaction of $809,380.00. Following the completion of the sale, the vice president now owns 32,205 shares in the company, valued at $2,005,083.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 72,276 shares of company stock worth $4,645,189. 1.05% of the stock is owned by company insiders.
Several equities analysts have recently issued reports on the stock. Cowen reissued an “outperform” rating and set a $90.00 price target (up previously from $76.00) on shares of Marathon Petroleum in a report on Thursday, February 1st. Zacks Investment Research raised shares of Marathon Petroleum from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a report on Monday, October 16th. Scotiabank reissued a “hold” rating and set a $75.00 price target on shares of Marathon Petroleum in a report on Wednesday, January 10th. Royal Bank of Canada reissued a “buy” rating and set a $89.00 price target on shares of Marathon Petroleum in a report on Tuesday, January 30th. Finally, Barclays upped their price objective on shares of Marathon Petroleum from $63.00 to $76.00 and gave the stock an “overweight” rating in a report on Tuesday, November 14th. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $74.08.
Marathon Petroleum Company 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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