Kentucky Retirement Systems lifted its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC – Free Report) by 28.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,853 shares of the oil and gas company’s stock after buying an additional 5,559 shares during the period. Kentucky Retirement Systems’ holdings in Marathon Petroleum were worth $6,069,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Norges Bank purchased a new stake in Marathon Petroleum during the 4th quarter valued at approximately $472,312,000. Capital Wealth Planning LLC grew its stake in shares of Marathon Petroleum by 49,392.0% in the 4th quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company’s stock valued at $245,157,000 after purchasing an additional 1,495,097 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Marathon Petroleum by 3,816.8% in the fourth quarter. Pacer Advisors Inc. now owns 1,306,749 shares of the oil and gas company’s stock valued at $212,517,000 after purchasing an additional 1,273,386 shares during the period. GHE LLC increased its holdings in shares of Marathon Petroleum by 1,939.8% in the first quarter. GHE LLC now owns 649,542 shares of the oil and gas company’s stock valued at $158,605,000 after purchasing an additional 617,699 shares during the period. Finally, Man Group plc raised its stake in shares of Marathon Petroleum by 2,175.0% during the fourth quarter. Man Group plc now owns 568,790 shares of the oil and gas company’s stock worth $92,502,000 after purchasing an additional 543,788 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.
Marathon Petroleum Price Performance
Shares of NYSE MPC opened at $309.09 on Thursday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.73 and a current ratio of 1.18. Marathon Petroleum Corporation has a one year low of $158.00 and a one year high of $326.92. The firm has a market capitalization of $90.24 billion, a P/E ratio of 20.18, a PEG ratio of 0.19 and a beta of 0.52. The company’s fifty day moving average is $271.59 and its two-hundred day moving average is $235.89.
Marathon Petroleum Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 26.11%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on MPC shares. Barclays lifted their price objective on shares of Marathon Petroleum from $270.00 to $289.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. TD Cowen raised their target price on shares of Marathon Petroleum from $315.00 to $357.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Mizuho lifted their target price on shares of Marathon Petroleum from $224.00 to $284.00 and gave the company a “neutral” rating in a report on Wednesday, May 27th. JPMorgan Chase & Co. boosted their price target on shares of Marathon Petroleum from $235.00 to $257.00 in a research note on Wednesday, May 6th. Finally, Citigroup increased their price target on shares of Marathon Petroleum from $257.00 to $303.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. Eleven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, Marathon Petroleum currently has an average rating of “Moderate Buy” and a consensus target price of $298.69.
View Our Latest Stock Report on MPC
Insider Activity
In other news, VP Michael A. Henschen II sold 6,336 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the sale, the vice president owned 16,900 shares of the company’s stock, valued at $4,543,058. The trade was a 27.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.17% of the company’s stock.
Marathon Petroleum Profile
Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.
Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.
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