Northstar Capital Management LLC purchased a new stake in shares of Marathon Petroleum Corp (NYSE:MPC) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 34,580 shares of the oil and gas company’s stock, valued at approximately $2,041,000. Marathon Petroleum makes up 2.2% of Northstar Capital Management LLC’s portfolio, making the stock its 18th biggest position.
A number of other hedge funds also recently made changes to their positions in the stock. Kistler Tiffany Companies LLC acquired a new position in Marathon Petroleum during the fourth quarter worth $30,000. FNY Investment Advisers LLC acquired a new position in Marathon Petroleum during the fourth quarter worth $37,000. Bartlett & Co. LLC raised its position in Marathon Petroleum by 60.5% in the fourth quarter. Bartlett & Co. LLC now owns 642 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 242 shares during the period. Contravisory Investment Management Inc. raised its position in Marathon Petroleum by 193.3% in the fourth quarter. Contravisory Investment Management Inc. now owns 742 shares of the oil and gas company’s stock valued at $44,000 after purchasing an additional 489 shares during the period. Finally, Baystate Wealth Management LLC raised its position in Marathon Petroleum by 77.4% in the fourth quarter. Baystate Wealth Management LLC now owns 722 shares of the oil and gas company’s stock valued at $48,000 after purchasing an additional 315 shares during the period. Institutional investors own 58.59% of the company’s stock.
In other Marathon Petroleum news, Director Steven A. Davis bought 3,500 shares of the business’s stock in a transaction dated Friday, December 14th. The stock was acquired at an average cost of $62.14 per share, with a total value of $217,490.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Steven A. Davis bought 2,500 shares of the business’s stock in a transaction dated Monday, November 19th. The shares were acquired at an average cost of $62.20 per share, with a total value of $155,500.00. Following the completion of the purchase, the director now owns 16,462 shares in the company, valued at approximately $1,023,936.40. The disclosure for this purchase can be found here. 1.09% of the stock is owned by corporate insiders.
MPC has been the topic of a number of research analyst reports. Citigroup lifted their target price on Marathon Petroleum from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, October 16th. Zacks Investment Research downgraded Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Friday, October 19th. ValuEngine downgraded Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Morgan Stanley cut their price objective on Marathon Petroleum from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Tuesday, November 20th. Finally, Cowen cut their price objective on Marathon Petroleum from $111.00 to $97.00 and set an “outperform” rating on the stock in a report on Wednesday, November 28th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Marathon Petroleum has an average rating of “Buy” and an average target price of $92.41.
Shares of NYSE MPC opened at $62.72 on Monday. The stock has a market capitalization of $43.33 billion, a P/E ratio of 9.25, a PEG ratio of 0.64 and a beta of 1.36. The company has a quick ratio of 1.09, a current ratio of 1.65 and a debt-to-equity ratio of 0.97. Marathon Petroleum Corp has a 52-week low of $54.29 and a 52-week high of $88.45.
Marathon Petroleum (NYSE:MPC) last announced its earnings results on Thursday, February 7th. The oil and gas company reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.43. The firm had revenue of $32.54 billion during the quarter, compared to analysts’ expectations of $34.16 billion. Marathon Petroleum had a return on equity of 18.84% and a net margin of 2.86%. The business’s revenue was up 53.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.05 EPS. As a group, research analysts forecast that Marathon Petroleum Corp will post 6.48 earnings per share for the current fiscal 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. The ex-dividend date is Tuesday, February 19th. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.46. This represents a $2.12 annualized dividend and a yield of 3.38%. Marathon Petroleum’s dividend payout ratio is currently 27.14%.
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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.
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