State of Tennessee Department of Treasury Raises Holdings in Marathon Petroleum Co. (NYSE:MPC)

State of Tennessee Department of Treasury boosted its stake in Marathon Petroleum Co. (NYSE:MPC) by 18.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 118,464 shares of the oil and gas company’s stock after buying an additional 18,056 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Marathon Petroleum were worth $16,526,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of MPC. Kohmann Bosshard Financial Services LLC purchased a new stake in Marathon Petroleum during the 4th quarter worth about $27,000. Asset Planning Inc acquired a new stake in shares of Marathon Petroleum during the 4th quarter worth about $28,000. Sierra Ocean LLC purchased a new stake in shares of Marathon Petroleum during the fourth quarter worth about $31,000. Cape Investment Advisory Inc. raised its position in shares of Marathon Petroleum by 762.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company’s stock valued at $42,000 after buying an additional 267 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new stake in Marathon Petroleum during the fourth quarter worth approximately $44,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of NYSE:MPC opened at $131.46 on Wednesday. The company has a market cap of $40.95 billion, a P/E ratio of 13.24, a PEG ratio of 3.11 and a beta of 1.04. Marathon Petroleum Co. has a one year low of $115.10 and a one year high of $201.36. The business’s 50-day simple moving average is $139.90 and its 200 day simple moving average is $146.85. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.71. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The business had revenue of $33.47 billion for the quarter, compared to analysts’ expectations of $31.94 billion. During the same period in the previous year, the company posted $3.98 earnings per share. The business’s revenue for the quarter was down 9.1% compared to the same quarter last year. On average, sell-side analysts forecast that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th were given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend was Wednesday, February 19th. Marathon Petroleum’s payout ratio is 36.66%.

Insider Buying and Selling

In related news, Director Evan Bayh purchased 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were purchased at an average cost of $133.70 per share, with a total value of $133,700.00. Following the completion of the acquisition, the director now directly owns 69,305 shares of the company’s stock, valued at approximately $9,266,078.50. The trade was a 1.46 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ricky D. Hessling acquired 2,000 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were bought at an average cost of $134.72 per share, with a total value of $269,440.00. Following the completion of the acquisition, the insider now owns 12,162 shares in the company, valued at $1,638,464.64. This represents a 19.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

MPC has been the topic of a number of recent analyst reports. Raymond James reduced their price target on Marathon Petroleum from $193.00 to $183.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, April 9th. Scotiabank decreased their price target on Marathon Petroleum from $169.00 to $147.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. Piper Sandler dropped their price objective on shares of Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Barclays lowered their target price on shares of Marathon Petroleum from $161.00 to $141.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Finally, Tudor Pickering raised shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $175.79.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. 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 and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.