AllSquare Wealth Management LLC Invests $32,000 in Marathon Petroleum Corp (MPC)
AllSquare Wealth Management LLC acquired a new position in Marathon Petroleum Corp (NYSE:MPC) in the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 527 shares of the oil and gas company’s stock, valued at approximately $32,000.
Several other hedge funds have also bought and sold shares of MPC. Hanson McClain Inc. bought a new stake in Marathon Petroleum in the 4th quarter valued at about $25,000. Alpha Omega Wealth Management LLC increased its position in Marathon Petroleum by 135.1% in the 1st quarter. Alpha Omega Wealth Management LLC now owns 435 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 250 shares in the last quarter. Certified Advisory Corp increased its position in Marathon Petroleum by 71.2% in the 4th quarter. Certified Advisory Corp now owns 476 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 198 shares in the last quarter. SeaBridge Investment Advisors LLC bought a new stake in Marathon Petroleum in the 4th quarter valued at about $30,000. Finally, Berman Capital Advisors LLC bought a new stake in Marathon Petroleum in the 4th quarter valued at about $30,000. 77.93% of the stock is owned by hedge funds and other institutional investors.
Shares of MPC opened at $52.86 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.20 and a quick ratio of 0.55. The company has a market cap of $33.61 billion, a price-to-earnings ratio of 7.80, a P/E/G ratio of 1.24 and a beta of 1.35. Marathon Petroleum Corp has a 52 week low of $50.19 and a 52 week high of $88.45.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 16th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date is Wednesday, May 15th. Marathon Petroleum’s dividend payout ratio is currently 31.27%.
MPC has been the subject of a number of research analyst reports. Macquarie initiated coverage on Marathon Petroleum in a research report on Tuesday, February 5th. They issued an “outperform” rating and a $67.18 target price for the company. Citigroup decreased their target price on Marathon Petroleum from $91.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, March 4th. ValuEngine lowered Marathon Petroleum from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th. Raymond James decreased their target price on Marathon Petroleum from $90.00 to $85.00 and set a “strong-buy” rating for the company in a research report on Wednesday, April 10th. Finally, Morgan Stanley decreased their target price on Marathon Petroleum from $85.00 to $82.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $86.27.
In other Marathon Petroleum news, CEO Gary R. Heminger sold 187,142 shares of the business’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $65.00, for a total transaction of $12,164,230.00. Following the completion of the sale, the chief executive officer now directly owns 434,166 shares of the company’s stock, valued at approximately $28,220,790. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.06% of the company’s stock.
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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, Retail, and Midstream. The Refining & Marketing segment refines crude oil and other feed stocks at its 16 refineries in the West Coast, Gulf Coast, and Mid-Continent regions of the United States; and purchases refined products and ethanol for resale.
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