AGF Investments Inc. Purchases 11,356 Shares of Marathon Petroleum Corp (MPC)
AGF Investments Inc. raised its stake in shares of Marathon Petroleum Corp (NYSE:MPC) by 47.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,264 shares of the oil and gas company’s stock after buying an additional 11,356 shares during the period. AGF Investments Inc.’s holdings in Marathon Petroleum were worth $2,820,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Capital Analysts LLC raised its holdings in Marathon Petroleum by 3.6% during the third quarter. Capital Analysts LLC now owns 51,023 shares of the oil and gas company’s stock valued at $4,080,000 after buying an additional 1,754 shares in the last quarter. Wetherby Asset Management Inc. raised its holdings in Marathon Petroleum by 29.4% during the third quarter. Wetherby Asset Management Inc. now owns 11,888 shares of the oil and gas company’s stock valued at $950,000 after buying an additional 2,703 shares in the last quarter. Segment Wealth Management LLC raised its holdings in Marathon Petroleum by 356.8% during the third quarter. Segment Wealth Management LLC now owns 39,834 shares of the oil and gas company’s stock valued at $3,186,000 after buying an additional 31,113 shares in the last quarter. Toronto Dominion Bank raised its holdings in Marathon Petroleum by 3.8% during the third quarter. Toronto Dominion Bank now owns 441,986 shares of the oil and gas company’s stock valued at $35,340,000 after buying an additional 16,352 shares in the last quarter. Finally, Acorn Advisory Capital L.P. bought a new position in Marathon Petroleum during the third quarter valued at about $288,000. Institutional investors own 83.16% of the company’s stock.
MPC has been the topic of several recent research reports. Zacks Investment Research upgraded Marathon Petroleum from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a report on Tuesday, October 9th. Barclays initiated coverage on Marathon Petroleum in a research note on Wednesday, October 3rd. They issued an “overweight” rating and a $125.00 price objective on the stock. Wells Fargo & Co reiterated a “buy” rating on shares of Marathon Petroleum in a research note on Monday, August 27th. Royal Bank of Canada reiterated a “buy” rating and issued a $87.00 price objective on shares of Marathon Petroleum in a research note on Friday, July 27th. Finally, Mizuho initiated coverage on Marathon Petroleum in a research note on Wednesday, August 1st. They issued a “buy” rating and a $95.00 price objective on the stock. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Marathon Petroleum currently has an average rating of “Buy” and a consensus target price of $92.38.
Marathon Petroleum (NYSE:MPC) last released its earnings results on Thursday, November 1st. The oil and gas company reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.02. Marathon Petroleum had a return on equity of 12.28% and a net margin of 4.48%. The business had revenue of $23.13 billion for the quarter, compared to the consensus estimate of $23.20 billion. During the same period last year, the business earned $1.77 earnings per share. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. Analysts anticipate that Marathon Petroleum Corp will post 5.16 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Wednesday, November 21st will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date is Tuesday, November 20th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 48.42%.
Marathon Petroleum Profile
Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.
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