Sawgrass Asset Management LLC Sells 369 Shares of Marathon Petroleum Co. (NYSE:MPC) #Sawgrass #Asset #Management #LLC #Sells #Shares #Marathon #Petroleum #NYSEMPC Welcome to Americanah Blog, here is the new story we have for you today:
Sawgrass Asset Management LLC cut its holdings in shares of Marathon Petroleum Co. (NYSE:MPC – Get Rating) by 1.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,043 shares of the oil and gas company’s stock after selling 369 shares during the period. Sawgrass Asset Management LLC’s holdings in Marathon Petroleum were worth $1,799,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the business. Herold Advisors Inc. acquired a new position in Marathon Petroleum during the 1st quarter worth $26,000. Riverview Trust Co acquired a new position in Marathon Petroleum during the 1st quarter worth $29,000. Dixon Hughes Goodman Wealth Advisors LLC lifted its holdings in Marathon Petroleum by 138.5% during the 1st quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 353 shares of the oil and gas company’s stock worth $30,000 after buying an additional 205 shares in the last quarter. Hazlett Burt & Watson Inc. acquired a new position in Marathon Petroleum during the 1st quarter worth $30,000. Finally, DB Wealth Management Group LLC lifted its holdings in Marathon Petroleum by 886.8% during the 1st quarter. DB Wealth Management Group LLC now owns 375 shares of the oil and gas company’s stock worth $32,000 after buying an additional 337 shares in the last quarter. 78.69% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
MPC has been the topic of several research reports. StockNews.com raised Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a report on Sunday. Wells Fargo & Company cut their price target on Marathon Petroleum from $129.00 to $117.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 3rd. Barclays increased their price target on Marathon Petroleum from $94.00 to $112.00 and gave the company an “overweight” rating in a research note on Tuesday, August 16th. JPMorgan Chase & Co. increased their price target on Marathon Petroleum from $95.00 to $109.00 in a research note on Tuesday, May 17th. Finally, Raymond James increased their price target on Marathon Petroleum from $131.00 to $133.00 and gave the company a “strong-buy” rating in a research note on Friday, September 9th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $115.58.
Marathon Petroleum Price Performance
MPC opened at $97.65 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.49 and a debt-to-equity ratio of 0.79. Marathon Petroleum Co. has a 12 month low of $56.08 and a 12 month high of $114.35. The company has a fifty day simple moving average of $93.56 and a 200 day simple moving average of $90.69. The stock has a market cap of $48.69 billion, a P/E ratio of 6.60, a P/E/G ratio of 0.21 and a beta of 1.70.
Marathon Petroleum (NYSE:MPC – Get Rating) last released its earnings results on Tuesday, August 2nd. The oil and gas company reported $10.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.98 by $5.63. The firm had revenue of $54.33 billion during the quarter, compared to analysts’ expectations of $44.26 billion. Marathon Petroleum had a return on equity of 23.85% and a net margin of 5.09%. The company’s revenue was up 82.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.67 EPS. On average, research analysts expect that Marathon Petroleum Co. will post 21.11 EPS for the current year.
Marathon Petroleum Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Wednesday, August 17th were issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend was Tuesday, August 16th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 15.68%.
Insiders Place Their Bets
In other Marathon Petroleum news, VP Carl Kristopher Hagedorn sold 14,353 shares of the stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $105.41, for a total transaction of $1,512,949.73. Following the completion of the transaction, the vice president now owns 7,873 shares in the company, valued at approximately $829,892.93. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.28% of the company’s stock.
Marathon Petroleum Company Profile
Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. It operates in two segments, Refining & Marketing, and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale.
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