Marathon Petroleum Corp (MPC) Shares Bought by Millennium Management LLC
Millennium Management LLC boosted its holdings in Marathon Petroleum Corp (NYSE:MPC) by 24.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,209,211 shares of the oil and gas company’s stock after buying an additional 1,019,354 shares during the period. Marathon Petroleum makes up about 0.5% of Millennium Management LLC’s investment portfolio, making the stock its 6th biggest position. Millennium Management LLC’s holdings in Marathon Petroleum were worth $343,704,000 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. Sciencast Management LP lifted its holdings in Marathon Petroleum by 32.1% in the fourth quarter. Sciencast Management LP now owns 7,881 shares of the oil and gas company’s stock valued at $575,000 after buying an additional 1,914 shares during the period. Flinton Capital Management LLC lifted its holdings in Marathon Petroleum by 84.6% in the fourth quarter. Flinton Capital Management LLC now owns 242,144 shares of the oil and gas company’s stock valued at $15,977,000 after buying an additional 110,992 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Marathon Petroleum by 8.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 37,482 shares of the oil and gas company’s stock valued at $2,475,000 after buying an additional 2,875 shares during the period. Cornerstone Capital Management Holdings LLC. lifted its holdings in Marathon Petroleum by 0.7% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 830,071 shares of the oil and gas company’s stock valued at $54,767,000 after buying an additional 5,884 shares during the period. Finally, Elkfork Partners LLC acquired a new position in Marathon Petroleum in the fourth quarter valued at approximately $12,553,000. Institutional investors and hedge funds own 80.38% of the company’s stock.
Shares of Marathon Petroleum Corp (NYSE:MPC) opened at $69.24 on Wednesday. The company has a current ratio of 1.28, a quick ratio of 0.75 and a debt-to-equity ratio of 0.59. Marathon Petroleum Corp has a 12-month low of $47.78 and a 12-month high of $73.53. The stock has a market cap of $32,976.66, a price-to-earnings ratio of 10.01, a PEG ratio of 0.99 and a beta of 1.49.
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 12th. Stockholders of record on Wednesday, February 21st were given a dividend of $0.46 per share. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $1.84 annualized dividend and a dividend yield of 2.66%. Marathon Petroleum’s dividend payout ratio is currently 26.59%.
In other news, VP Rodney P. Nichols sold 6,374 shares of the stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $64.93, for a total transaction of $413,863.82. Following the completion of the sale, the vice president now owns 74,674 shares of the company’s stock, valued at $4,848,582.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles E. Bunch acquired 1,500 shares of the stock in a transaction dated Tuesday, March 6th. The shares were bought at an average cost of $67.38 per share, with a total value of $101,070.00. Following the transaction, the director now directly owns 12,853 shares of the company’s stock, valued at $866,035.14. The disclosure for this purchase can be found here. 1.05% of the stock is owned by corporate insiders.
MPC has been the topic of several analyst reports. Citigroup restated a “buy” rating and issued a $79.00 price objective on shares of Marathon Petroleum in a report on Friday, February 2nd. Cowen reaffirmed a “buy” rating on shares of Marathon Petroleum in a research note on Tuesday, November 14th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $89.00 target price on shares of Marathon Petroleum in a research note on Tuesday, January 30th. Goldman Sachs Group raised shares of Marathon Petroleum from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 13th. Finally, Barclays reaffirmed a “buy” rating and issued a $90.00 target price on shares of Marathon Petroleum in a research note on Friday, February 16th. Six analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. Marathon Petroleum presently has an average rating of “Buy” and a consensus price target of $79.08.
About Marathon Petroleum
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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