Meridian Wealth Management LLC lessened its position in Marathon Petroleum Corp (NYSE:MPC) by 67.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 32,939 shares of the oil and gas company’s stock after selling 68,439 shares during the quarter. Marathon Petroleum comprises approximately 1.1% of Meridian Wealth Management LLC’s investment portfolio, making the stock its 19th largest position. Meridian Wealth Management LLC’s holdings in Marathon Petroleum were worth $1,944,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Polaris Greystone Financial Group LLC increased its holdings in shares of Marathon Petroleum by 40,590.6% in the 3rd quarter. Polaris Greystone Financial Group LLC now owns 310,062 shares of the oil and gas company’s stock worth $24,796,000 after acquiring an additional 309,300 shares during the period. Point72 Hong Kong Ltd increased its holdings in shares of Marathon Petroleum by 73.3% in the 3rd quarter. Point72 Hong Kong Ltd now owns 19,007 shares of the oil and gas company’s stock worth $1,520,000 after acquiring an additional 8,040 shares during the period. Quadrant Capital Group LLC increased its holdings in shares of Marathon Petroleum by 170.3% in the 3rd quarter. Quadrant Capital Group LLC now owns 3,209 shares of the oil and gas company’s stock worth $244,000 after acquiring an additional 2,022 shares during the period. First Trust Advisors LP increased its holdings in shares of Marathon Petroleum by 60.2% in the 3rd quarter. First Trust Advisors LP now owns 624,380 shares of the oil and gas company’s stock worth $49,932,000 after acquiring an additional 234,641 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of Marathon Petroleum by 27.6% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 81,964 shares of the oil and gas company’s stock worth $6,555,000 after acquiring an additional 17,733 shares during the period. 60.89% of the stock is currently owned by institutional investors and hedge funds.
In other Marathon Petroleum news, Director Steven A. Davis acquired 2,500 shares of Marathon Petroleum stock in a transaction dated Monday, November 19th. The stock was bought at an average price of $62.20 per share, for a total transaction of $155,500.00. Following the transaction, the director now owns 16,462 shares in the company, valued at approximately $1,023,936.40. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Steven A. Davis acquired 3,500 shares of Marathon Petroleum stock in a transaction dated Friday, December 14th. The shares were acquired at an average price of $62.14 per share, with a total value of $217,490.00. The disclosure for this purchase can be found here. Company insiders own 1.09% of the company’s stock.
NYSE:MPC opened at $62.74 on Monday. Marathon Petroleum Corp has a twelve month low of $54.29 and a twelve month high of $88.45. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.65 and a quick ratio of 1.09. The stock has a market cap of $43.34 billion, a PE ratio of 9.25, a price-to-earnings-growth ratio of 0.64 and a beta of 1.36.
Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Thursday, February 7th. The oil and gas company reported $2.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.98 by $0.43. Marathon Petroleum had a net margin of 2.86% and a return on equity of 18.84%. The company had revenue of $32.54 billion during the quarter, compared to analyst estimates of $34.16 billion. During the same quarter last year, the firm posted $1.05 EPS. The business’s revenue for the quarter was up 53.2% on a year-over-year basis. Equities research analysts expect that Marathon Petroleum Corp will post 6.48 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 11th. Stockholders of record on Wednesday, February 20th will be given a dividend of $0.53 per share. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Tuesday, February 19th. This represents a $2.12 annualized dividend and a dividend yield of 3.38%. Marathon Petroleum’s dividend payout ratio (DPR) is 27.14%.
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Marathon Petroleum Profile
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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