California State Teachers Retirement System lowered its position in Marathon Petroleum Corp (NYSE:MPC) by 2.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 901,647 shares of the oil and gas company’s stock after selling 26,756 shares during the quarter. California State Teachers Retirement System owned approximately 0.19% of Marathon Petroleum worth $59,491,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Truewealth LLC purchased a new stake in Marathon Petroleum in the fourth quarter valued at approximately $114,000. American Beacon Advisors Inc. purchased a new stake in Marathon Petroleum in the fourth quarter valued at approximately $116,000. Cerebellum GP LLC purchased a new stake in Marathon Petroleum in the fourth quarter valued at approximately $121,000. BB&T Investment Services Inc. lifted its stake in Marathon Petroleum by 118.2% in the third quarter. BB&T Investment Services Inc. now owns 3,063 shares of the oil and gas company’s stock valued at $178,000 after buying an additional 1,659 shares during the last quarter. Finally, MHI Funds LLC purchased a new stake in Marathon Petroleum in the fourth quarter valued at approximately $189,000. Institutional investors own 80.38% of the company’s stock.
Marathon Petroleum Corp (MPC) opened at $69.24 on Wednesday. Marathon Petroleum Corp has a twelve month low of $47.78 and a twelve month high of $73.53. The firm has a market capitalization of $32,520.00, a price-to-earnings ratio of 18.17, a P/E/G ratio of 1.01 and a beta of 1.51. The company has a current ratio of 1.28, a quick ratio of 0.75 and a debt-to-equity ratio of 0.59.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 12th. Investors of record on Wednesday, February 21st were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date was Tuesday, February 20th. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.40. Marathon Petroleum’s dividend payout ratio is currently 48.29%.
A number of equities research analysts have weighed in on MPC shares. Barclays boosted their price objective on Marathon Petroleum from $63.00 to $76.00 and gave the company an “overweight” rating in a research note on Tuesday, November 14th. Royal Bank of Canada restated a “buy” rating and set a $89.00 price target on shares of Marathon Petroleum in a research note on Tuesday, January 30th. Credit Suisse Group assumed coverage on Marathon Petroleum in a research note on Wednesday, January 3rd. They set an “outperform” rating and a $83.00 price target for the company. UBS Group cut Marathon Petroleum from a “buy” rating to a “neutral” rating and upped their price target for the stock from $63.00 to $65.00 in a research note on Sunday, November 26th. Finally, Cowen upped their price target on Marathon Petroleum from $60.00 to $79.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 14th. They noted that the move was a valuation call. Six analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $79.08.
In other Marathon Petroleum news, Director Charles E. Bunch acquired 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 6th. The shares were purchased at an average price of $67.38 per share, with a total value of $101,070.00. Following the completion of the acquisition, the director now directly owns 12,853 shares of the company’s stock, valued at approximately $866,035.14. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Rodney P. Nichols sold 6,374 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $64.93, for a total value of $413,863.82. Following the transaction, the vice president now directly owns 74,674 shares in the company, valued at approximately $4,848,582.82. The disclosure for this sale can be found here. Corporate insiders own 1.05% of the company’s stock.
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Marathon Petroleum Company Profile
Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.
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