Amalgamated Bank Shrinks Marathon Petroleum Holdings Amid Analysts' Mixed Views - Top Picks
Amalgamated Bank sold off 7,641 shares of Marathon Petroleum Co. (NYSE:MPC) in the fourth quarter, reducing its overall holdings by 5.9%. The bank now has 122,932 shares worth around $14,308,000. This information was disclosed in a recent Securities & Exchange Commission (SEC) filing.
On May 2nd, Marathon Petroleum shared their Q1 2017 earnings. They beat the anticipated earnings, with $6.09 EPS compared to $5.23. They didn't quite hit the projected revenue of $35.17 billion, but still made a net margin of 9.28% and had a return on equity of 46.49%. Despite revenue being lower than last year's Q1 by 8.6%, shares rose significantly.
Research analysts have different opinions about investing in Marathon Petroleum stocks. Some suggest holding the stocks, while others recommend buying them. Only one analyst firmly advises purchasing the stocks.
Goldman Sachs thinks Marathon Petroleum is a good buy. They raised the price they think it should be sold at from $132 to $150. Cowen also thinks it's a good buy and raised their price from $133 to $143. Other analysts will review it too.
The bank cutting investments may mean investors are not sure about investing in Marathon Petroleum. But, it might not have a big impact on MPC earnings in Q2 and Q3.
Hedge Funds Bet On Marathon Petroleum's Growth Potential With Dividend And Buyback
Big oil refinery Marathon Petroleum Co. had some changes in its hedge funds recently. Different financial groups bought some of the company's shares, which shows it's still doing well. The company's shares are being bought for $108.52 and have a value of $46.04 billion. Marathon Petroleum's PE ratio is 3.26 and its P/E/G ratio is 0.97, with a beta of 1.64.
The company is growing and declared a quarterly dividend. Shareholders will get it on June 12th. The dividend is $3.00 per share yearly and a 2.76% yield. The company can also buy back shares worth $5 billion. The board believes in the company's potential. Marathon Petroleum is a major entity.
Many hedge funds invested in Marathon Petroleum’s stock in the past year. Todd Asset Management LLC added holdings in Q3 2020. Ronald Blue Trust Inc., Jackson Creek Investment Advisors LLC, Westpac Banking Corp, and Crescent Grove Advisors LLC increased their stake in Q4 too. These details come from SEC filings.
Big investors like Marathon Petroleum because of their strong finances, big revenue, smart tech, and good marketing in different countries. They'll keep growing because of this and new investors in the future.
Yasmine looks for good new ideas. She has a degree in finance, an MBA, and has done two tests - the CFA and CMT. Her goal is to find ideas that will make a difference.
