Infrastructure Capital Advisors LLC increased its stake in shares of Marathon Petroleum Corp (NYSE:MPC) by 995.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 301,608 shares of the oil and gas company’s stock after acquiring an additional 274,080 shares during the quarter. Marathon Petroleum makes up 2.2% of Infrastructure Capital Advisors LLC’s investment portfolio, making the stock its 15th largest position. Infrastructure Capital Advisors LLC’s holdings in Marathon Petroleum were worth $22,051,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently bought and sold shares of the company. Advisors Preferred LLC bought a new position in Marathon Petroleum during the 1st quarter worth approximately $101,000. Bruderman Asset Management LLC bought a new position in Marathon Petroleum during the 1st quarter worth approximately $102,000. Captrust Financial Advisors bought a new position in Marathon Petroleum during the 4th quarter worth approximately $105,000. Bedel Financial Consulting Inc. bought a new position in Marathon Petroleum during the 1st quarter worth approximately $106,000. Finally, Truewealth LLC bought a new position in Marathon Petroleum during the 4th quarter worth approximately $114,000. Institutional investors and hedge funds own 79.72% of the company’s stock.
In other news, insider Thomas M. Kelley sold 24,818 shares of the business’s stock in a transaction on Wednesday, May 30th. The stock was sold at an average price of $79.47, for a total value of $1,972,286.46. Following the completion of the transaction, the insider now owns 51,869 shares in the company, valued at $4,122,029.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.09% of the stock is currently owned by insiders.
Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, May 1st. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.07). The company had revenue of $18.98 billion for the quarter, compared to analysts’ expectations of $21.78 billion. Marathon Petroleum had a net margin of 4.45% and a return on equity of 10.05%. The firm’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.06 EPS. research analysts anticipate that Marathon Petroleum Corp will post 4.9 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 11th. Shareholders of record on Wednesday, May 16th will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Tuesday, May 15th. Marathon Petroleum’s payout ratio is 48.42%.
MPC has been the topic of several recent research reports. Morgan Stanley raised their price target on Marathon Petroleum from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, April 16th. JPMorgan Chase & Co. cut their price objective on Marathon Petroleum from $90.00 to $86.00 and set an “overweight” rating on the stock in a research report on Monday, April 9th. Goldman Sachs Group upgraded Marathon Petroleum from a “neutral” rating to a “buy” rating in a research report on Tuesday, February 13th. Barclays reiterated a “buy” rating and issued a $90.00 price objective on shares of Marathon Petroleum in a research report on Friday, February 16th. Finally, Zacks Investment Research lowered Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 14th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $83.63.
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, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.
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