Teacher Retirement System of Texas Boosts Position in Marathon Petroleum Corporation $MPC

Teacher Retirement System of Texas grew its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 17.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 120,535 shares of the oil and gas company’s stock after buying an additional 17,627 shares during the quarter. Teacher Retirement System of Texas’ holdings in Marathon Petroleum were worth $23,232,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in MPC. Concord Asset Management LLC VA purchased a new stake in Marathon Petroleum during the 2nd quarter worth approximately $412,000. Los Angeles Capital Management LLC grew its position in shares of Marathon Petroleum by 459.5% during the second quarter. Los Angeles Capital Management LLC now owns 189,973 shares of the oil and gas company’s stock worth $31,556,000 after buying an additional 156,019 shares in the last quarter. FSM Wealth Advisors LLC bought a new stake in shares of Marathon Petroleum in the second quarter worth $685,000. Generali Asset Management SPA SGR raised its holdings in Marathon Petroleum by 36.8% in the third quarter. Generali Asset Management SPA SGR now owns 41,225 shares of the oil and gas company’s stock valued at $7,946,000 after acquiring an additional 11,082 shares in the last quarter. Finally, Greatmark Investment Partners Inc. boosted its stake in Marathon Petroleum by 2.9% during the 2nd quarter. Greatmark Investment Partners Inc. now owns 168,603 shares of the oil and gas company’s stock valued at $28,007,000 after acquiring an additional 4,820 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MPC shares. JPMorgan Chase & Co. cut their target price on shares of Marathon Petroleum from $211.00 to $179.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 13th. Piper Sandler lowered their price objective on Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. Zacks Research downgraded Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Scotiabank reiterated an “outperform” rating and issued a $174.00 price target on shares of Marathon Petroleum in a report on Friday, January 16th. Finally, UBS Group raised their price objective on Marathon Petroleum from $203.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. Eight equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $195.71.

Marathon Petroleum Price Performance

Shares of NYSE MPC opened at $175.39 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.32 and a quick ratio of 0.79. The firm has a market capitalization of $52.72 billion, a PE ratio of 18.70, a P/E/G ratio of 0.76 and a beta of 0.74. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $202.29. The business’s fifty day moving average price is $179.65 and its two-hundred day moving average price is $180.70.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 EPS for the quarter, topping the consensus estimate of $3.00 by $0.01. Marathon Petroleum had a net margin of 2.13% and a return on equity of 9.76%. The business had revenue of $34.81 billion during the quarter, compared to analyst estimates of $31.06 billion. On average, research analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 19th were given a $1.00 dividend. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.91. The ex-dividend date was Wednesday, November 19th. This represents a $4.00 annualized dividend and a yield of 2.3%. Marathon Petroleum’s payout ratio is currently 42.64%.

Marathon Petroleum Company 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.