Marathon Petroleum Corp (MPC) Shares Sold by Meridian Wealth Management LLC
Meridian Wealth Management LLC decreased its stake in shares of Marathon Petroleum Corp (NYSE:MPC) by 67.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 32,939 shares of the oil and gas company’s stock after selling 68,439 shares during the period. Marathon Petroleum accounts for 1.1% of Meridian Wealth Management LLC’s portfolio, making the stock its 19th largest position. Meridian Wealth Management LLC’s holdings in Marathon Petroleum were worth $1,944,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Polaris Greystone Financial Group LLC increased its position in Marathon Petroleum by 40,590.6% during the third quarter. Polaris Greystone Financial Group LLC now owns 310,062 shares of the oil and gas company’s stock worth $24,796,000 after purchasing an additional 309,300 shares during the last quarter. Point72 Hong Kong Ltd grew its stake in Marathon Petroleum by 73.3% during the third quarter. Point72 Hong Kong Ltd now owns 19,007 shares of the oil and gas company’s stock worth $1,520,000 after buying an additional 8,040 shares during the period. Quadrant Capital Group LLC grew its stake in Marathon Petroleum by 170.3% during the third quarter. Quadrant Capital Group LLC now owns 3,209 shares of the oil and gas company’s stock worth $244,000 after buying an additional 2,022 shares during the period. First Trust Advisors LP grew its stake in Marathon Petroleum by 60.2% during the third quarter. First Trust Advisors LP now owns 624,380 shares of the oil and gas company’s stock worth $49,932,000 after buying an additional 234,641 shares during the period. Finally, Steward Partners Investment Advisory LLC grew its stake in Marathon Petroleum by 27.6% during the third quarter. Steward Partners Investment Advisory LLC now owns 81,964 shares of the oil and gas company’s stock worth $6,555,000 after buying an additional 17,733 shares during the period. 60.89% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Steven A. Davis acquired 3,500 shares of Marathon Petroleum stock in a transaction on Friday, December 14th. The shares were purchased at an average cost of $62.14 per share, for a total transaction of $217,490.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Steven A. Davis acquired 2,500 shares of Marathon Petroleum stock in a transaction on Monday, November 19th. The shares were bought at an average price of $62.20 per share, for a total transaction of $155,500.00. Following the completion of the purchase, the director now directly owns 16,462 shares in the company, valued at $1,023,936.40. The disclosure for this purchase can be found here. Corporate insiders own 1.09% of the company’s stock.
Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Thursday, February 7th. The oil and gas company reported $2.41 EPS for the quarter, beating the Zacks’ consensus estimate of $1.98 by $0.43. Marathon Petroleum had a net margin of 2.86% and a return on equity of 18.84%. The firm had revenue of $32.54 billion for the quarter, compared to the consensus estimate of $34.16 billion. During the same period in the prior year, the firm posted $1.05 EPS. The firm’s revenue was up 53.2% compared to the same quarter last year. On average, research analysts predict that Marathon Petroleum Corp will post 6.48 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 11th. Shareholders of record on Wednesday, February 20th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 3.38%. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.46. The ex-dividend date is Tuesday, February 19th. Marathon Petroleum’s dividend payout ratio is 27.14%.
MPC has been the subject of several research reports. Citigroup boosted their price objective on shares of Marathon Petroleum from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, October 16th. Zacks Investment Research downgraded shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, October 19th. ValuEngine downgraded shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. Morgan Stanley decreased their target price on shares of Marathon Petroleum from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Tuesday, November 20th. Finally, Cowen decreased their target price on shares of Marathon Petroleum from $111.00 to $97.00 and set an “outperform” rating for the company in a research note on Wednesday, November 28th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $92.41.
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About Marathon Petroleum
Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing, Speedway and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals and trucks that the company owns or operates.
See Also: Hedge Funds
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