Princeton Global Asset Management LLC increased its holdings in Marathon Petroleum Corp (NYSE:MPC) by 10.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,793 shares of the oil and gas company’s stock after acquiring an additional 1,603 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Marathon Petroleum were worth $1,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Millennium Management LLC increased its position in Marathon Petroleum by 8,399.2% during the third quarter. Millennium Management LLC now owns 4,380,729 shares of the oil and gas company’s stock valued at $266,129,000 after acquiring an additional 4,329,186 shares during the last quarter. PointState Capital LP lifted its holdings in Marathon Petroleum by 47.1% in the third quarter. PointState Capital LP now owns 766,400 shares of the oil and gas company’s stock valued at $46,559,000 after acquiring an additional 245,400 shares during the period. Saya Management LP purchased a new position in Marathon Petroleum in the third quarter worth about $5,206,000. Worldquant Millennium Advisors LLC boosted its position in Marathon Petroleum by 188.0% in the third quarter. Worldquant Millennium Advisors LLC now owns 281,740 shares of the oil and gas company’s stock worth $17,115,000 after purchasing an additional 183,929 shares during the last quarter. Finally, National Pension Service boosted its position in Marathon Petroleum by 4.9% in the third quarter. National Pension Service now owns 927,808 shares of the oil and gas company’s stock worth $56,364,000 after purchasing an additional 43,741 shares during the last quarter. 75.26% of the stock is owned by institutional investors and hedge funds.
Shares of MPC stock traded down $0.84 during trading hours on Tuesday, reaching $60.03. 5,258,628 shares of the company traded hands, compared to its average volume of 6,508,548. The firm has a 50-day moving average price of $64.52 and a 200 day moving average price of $55.56. The company has a market cap of $38.98 billion, a P/E ratio of 8.85, a P/E/G ratio of 1.40 and a beta of 1.68. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.25 and a quick ratio of 0.62. Marathon Petroleum Corp has a 12-month low of $43.96 and a 12-month high of $69.65.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be given a $0.53 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.53%. Marathon Petroleum’s payout ratio is currently 31.27%.
Several research firms have recently commented on MPC. Morgan Stanley upped their price target on shares of Marathon Petroleum from $70.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group began coverage on shares of Marathon Petroleum in a report on Tuesday, September 3rd. They issued a “buy” rating and a $75.00 price objective on the stock. Citigroup boosted their target price on shares of Marathon Petroleum from $60.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Cfra cut shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Mizuho set a $90.00 price target on shares of Marathon Petroleum and gave the stock a “buy” rating in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $73.38.
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; Retail; 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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