Iridian Asset Management LLC CT grew its holdings in Marathon Petroleum Corp (NYSE:MPC) by 24.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,585,337 shares of the oil and gas company’s stock after purchasing an additional 903,373 shares during the quarter. Marathon Petroleum comprises about 3.7% of Iridian Asset Management LLC CT’s portfolio, making the stock its 5th biggest position. Iridian Asset Management LLC CT owned approximately 1.02% of Marathon Petroleum worth $366,689,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in MPC. Rational Advisors LLC raised its stake in Marathon Petroleum by 282.4% during the 3rd quarter. Rational Advisors LLC now owns 1,480 shares of the oil and gas company’s stock worth $118,000 after buying an additional 1,093 shares during the period. NEXT Financial Group Inc acquired a new position in Marathon Petroleum during the 3rd quarter worth approximately $124,000. Columbia Asset Management acquired a new position in Marathon Petroleum during the 3rd quarter worth approximately $156,000. Destination Wealth Management acquired a new position in Marathon Petroleum during the 2nd quarter worth approximately $144,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in Marathon Petroleum during the 2nd quarter worth approximately $147,000. 83.16% of the stock is currently owned by institutional investors.
Shares of MPC opened at $65.44 on Monday. 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 company has a market cap of $45.21 billion, a price-to-earnings ratio of 17.22, a P/E/G ratio of 0.89 and a beta of 1.50. Marathon Petroleum Corp has a 52 week low of $60.95 and a 52 week high of $88.45.
Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Thursday, November 1st. The oil and gas company reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.02. The firm had revenue of $23.13 billion during the quarter, compared to analyst estimates of $23.20 billion. Marathon Petroleum had a return on equity of 12.28% and a net margin of 4.48%. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.77 EPS. Analysts expect that Marathon Petroleum Corp will post 5.16 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Wednesday, November 21st will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date is Tuesday, November 20th. Marathon Petroleum’s dividend payout ratio is currently 48.42%.
A number of research analysts recently weighed in on the company. Zacks Investment Research raised Marathon Petroleum from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a research note on Tuesday, October 9th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Marathon Petroleum in a research note on Monday, August 27th. Barclays assumed coverage on Marathon Petroleum in a research note on Wednesday, October 3rd. They set an “overweight” rating and a $125.00 price target on the stock. Citigroup upped their price target on Marathon Petroleum from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, September 7th. Finally, Goldman Sachs Group assumed coverage on Marathon Petroleum in a research note on Tuesday, October 2nd. They set a “conviction-buy” rating on the stock. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $92.38.
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Marathon Petroleum Company Profile
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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