Louisiana State Employees Retirement System Buys New Stake in Marathon Petroleum Corporation $MPC

Louisiana State Employees Retirement System purchased a new position in shares of Marathon Petroleum Corporation (NYSE:MPC) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,000 shares of the oil and gas company’s stock, valued at approximately $3,663,000.

A number of other hedge funds have also modified their holdings of the stock. Creative Financial Designs Inc. ADV grew its position in Marathon Petroleum by 2.6% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 2,050 shares of the oil and gas company’s stock valued at $333,000 after acquiring an additional 51 shares during the period. IFG Advisory LLC grew its holdings in shares of Marathon Petroleum by 1.5% in the 4th quarter. IFG Advisory LLC now owns 3,429 shares of the oil and gas company’s stock worth $558,000 after purchasing an additional 51 shares during the last quarter. Eagle Bluffs Wealth Management LLC increased its position in shares of Marathon Petroleum by 1.2% during the 4th quarter. Eagle Bluffs Wealth Management LLC now owns 4,357 shares of the oil and gas company’s stock worth $709,000 after purchasing an additional 52 shares in the last quarter. Auxano Advisors LLC lifted its holdings in Marathon Petroleum by 2.1% during the 4th quarter. Auxano Advisors LLC now owns 2,630 shares of the oil and gas company’s stock valued at $428,000 after purchasing an additional 55 shares during the last quarter. Finally, Vermillion Wealth Management Inc. boosted its position in Marathon Petroleum by 33.3% in the first quarter. Vermillion Wealth Management Inc. now owns 224 shares of the oil and gas company’s stock valued at $55,000 after buying an additional 56 shares in the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Trading Up 0.1%

MPC stock opened at $253.78 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.18 and a debt-to-equity ratio of 1.31. Marathon Petroleum Corporation has a twelve month low of $158.00 and a twelve month high of $272.46. The company has a market cap of $74.09 billion, a P/E ratio of 16.57, a PEG ratio of 0.39 and a beta of 0.52. The business has a fifty day moving average of $247.79 and a 200-day moving average of $216.35.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.91. The business had revenue of $34.20 billion for the quarter, compared to analysts’ expectations of $33.42 billion. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.24) earnings per share. As a group, equities research analysts expect that Marathon Petroleum Corporation will post 31.35 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were given a dividend of $1.00 per share. The ex-dividend date was Wednesday, May 20th. This represents a $4.00 annualized dividend and a dividend yield of 1.6%. Marathon Petroleum’s payout ratio is currently 26.11%.

Insider Buying and Selling at Marathon Petroleum

In related 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 shares were sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the completion of the sale, the vice president directly owned 16,900 shares of the company’s stock, valued at $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.17% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

MPC has been the subject of several recent analyst reports. Piper Sandler raised their price objective on shares of Marathon Petroleum from $197.00 to $228.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. Weiss Ratings lowered Marathon Petroleum from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Jefferies Financial Group raised their target price on Marathon Petroleum from $279.00 to $296.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Wall Street Zen raised shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 10th. Finally, TD Cowen boosted their target price on shares of Marathon Petroleum to $320.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Ten analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $272.94.

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.