Marathon Petroleum Corp (MPC) Stake Increased by Seelaus Asset Management LLC
Seelaus Asset Management LLC raised its position in Marathon Petroleum Corp (NYSE:MPC) by 32.4% in the 1st quarter, HoldingsChannel.com reports. The fund owned 15,126 shares of the oil and gas company’s stock after acquiring an additional 3,700 shares during the period. Seelaus Asset Management LLC’s holdings in Marathon Petroleum were worth $905,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in MPC. Greatmark Investment Partners Inc. grew its holdings in Marathon Petroleum by 347.8% in the fourth quarter. Greatmark Investment Partners Inc. now owns 38,530 shares of the oil and gas company’s stock valued at $2,274,000 after purchasing an additional 29,925 shares during the period. Kwmg LLC lifted its holdings in Marathon Petroleum by 14.9% in the 4th quarter. Kwmg LLC now owns 32,755 shares of the oil and gas company’s stock valued at $1,933,000 after acquiring an additional 4,259 shares during the last quarter. Barings LLC lifted its holdings in Marathon Petroleum by 30.5% in the 4th quarter. Barings LLC now owns 51,550 shares of the oil and gas company’s stock valued at $3,042,000 after acquiring an additional 12,050 shares during the last quarter. Investec Asset Management LTD lifted its holdings in Marathon Petroleum by 452.8% in the 4th quarter. Investec Asset Management LTD now owns 492,095 shares of the oil and gas company’s stock valued at $29,039,000 after acquiring an additional 403,079 shares during the last quarter. Finally, Toronto Dominion Bank lifted its holdings in Marathon Petroleum by 108.3% in the 1st quarter. Toronto Dominion Bank now owns 819,141 shares of the oil and gas company’s stock valued at $49,019,000 after acquiring an additional 425,808 shares during the last quarter. Institutional investors own 77.93% of the company’s stock.
Shares of NYSE MPC traded down $0.56 during mid-day trading on Wednesday, reaching $50.75. The company had a trading volume of 1,359,472 shares, compared to its average volume of 7,262,723. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.20 and a quick ratio of 0.55. The firm has a market capitalization of $33.61 billion, a price-to-earnings ratio of 7.49, a price-to-earnings-growth ratio of 1.24 and a beta of 1.35. Marathon Petroleum Corp has a 12-month low of $50.60 and a 12-month high of $88.45.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Thursday, May 16th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date of this dividend is Wednesday, May 15th. Marathon Petroleum’s dividend payout ratio (DPR) is 31.27%.
MPC has been the subject of a number of analyst reports. Macquarie initiated coverage on shares of Marathon Petroleum in a research note on Tuesday, February 5th. They set an “outperform” rating and a $67.18 price objective for the company. Raymond James reduced their price objective on shares of Marathon Petroleum from $90.00 to $85.00 and set a “strong-buy” rating for the company in a research note on Wednesday, April 10th. Citigroup reduced their price objective on shares of Marathon Petroleum from $91.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, March 4th. ValuEngine lowered shares of Marathon Petroleum from a “hold” rating to a “sell” rating in a research note on Tuesday, March 5th. Finally, Morgan Stanley reduced their price objective on shares of Marathon Petroleum from $85.00 to $82.00 and set an “overweight” rating for the company in a research note on Monday, April 15th. One analyst has rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Marathon Petroleum currently has an average rating of “Buy” and an average price target of $86.27.
In other news, CEO Gary R. Heminger sold 187,142 shares of the stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $65.00, for a total value of $12,164,230.00. Following the completion of the sale, the chief executive officer now directly owns 434,166 shares of the company’s stock, valued at $28,220,790. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.06% of the stock is owned by corporate insiders.
About Marathon Petroleum
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, Retail, and Midstream. The Refining & Marketing segment refines crude oil and other feed stocks at its 16 refineries in the West Coast, Gulf Coast, and Mid-Continent regions of the United States; and purchases refined products and ethanol for resale.
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