IndexIQ Advisors LLC decreased its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 79.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,875 shares of the oil and gas company’s stock after selling 7,260 shares during the period. IndexIQ Advisors LLC’s holdings in Marathon Petroleum Corporation were worth $106,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Blue Chip Partners Inc. bought a new stake in Marathon Petroleum Corporation during the second quarter valued at $100,000. Lee Financial Co increased its stake in Marathon Petroleum Corporation by 2.4% during the second quarter. Lee Financial Co now owns 2,048 shares of the oil and gas company’s stock valued at $107,000 after purchasing an additional 48 shares during the last quarter. Crow Point Partners LLC acquired a new position in shares of Marathon Petroleum Corporation during the third quarter valued at $128,000. First Interstate Bank boosted its holdings in shares of Marathon Petroleum Corporation by 81.1% during the second quarter. First Interstate Bank now owns 2,376 shares of the oil and gas company’s stock valued at $124,000 after acquiring an additional 1,064 shares during the period. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of Marathon Petroleum Corporation during the third quarter valued at $135,000. Hedge funds and other institutional investors own 81.02% of the company’s stock.
In other Marathon Petroleum Corporation news, insider Anthony R. Kenney sold 77,578 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $62.35, for a total value of $4,836,988.30. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP C. Michael Palmer sold 11,450 shares of the business’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $53.02, for a total transaction of $607,079.00. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by insiders.
Marathon Petroleum Corporation (NYSE:MPC) last issued its quarterly earnings results on Thursday, October 26th. The oil and gas company reported $1.77 EPS for the quarter, topping the consensus estimate of $1.48 by $0.29. Marathon Petroleum Corporation had a net margin of 2.35% and a return on equity of 8.52%. The firm had revenue of $19.36 billion for the quarter, compared to analysts’ expectations of $19.38 billion. During the same period in the previous year, the business earned $0.58 earnings per share. Marathon Petroleum Corporation’s revenue for the quarter was up 17.6% compared to the same quarter last year. equities analysts anticipate that Marathon Petroleum Corporation will post 3.59 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Thursday, November 16th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.54%. The ex-dividend date is Wednesday, November 15th. Marathon Petroleum Corporation’s dividend payout ratio (DPR) is presently 49.08%.
Several brokerages have recently issued reports on MPC. UBS AG downgraded shares of Marathon Petroleum Corporation from a “buy” rating to a “neutral” rating in a report on Wednesday. Barclays PLC boosted their price target on shares of Marathon Petroleum Corporation from $63.00 to $76.00 and gave the company an “overweight” rating in a report on Tuesday. boosted their price target on shares of Marathon Petroleum Corporation from $60.00 to $79.00 and gave the company an “outperform” rating in a report on Tuesday. They noted that the move was a valuation call. raised shares of Marathon Petroleum Corporation from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a report on Friday, November 10th. Finally, Citigroup Inc. boosted their price target on shares of Marathon Petroleum Corporation from $67.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, October 18th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $64.93.
About Marathon Petroleum Corporation
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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