Teachers Retirement System of The State of Kentucky cut its position in Marathon Petroleum Corp (NYSE:MPC) by 5.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 351,824 shares of the oil and gas company’s stock after selling 19,800 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Marathon Petroleum were worth $23,213,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Truewealth LLC purchased a new position in shares of Marathon Petroleum in the fourth quarter valued at $114,000. American Beacon Advisors Inc. purchased a new position in shares of Marathon Petroleum in the fourth quarter valued at $116,000. Cerebellum GP LLC purchased a new position in shares of Marathon Petroleum in the fourth quarter valued at $121,000. MHI Funds LLC purchased a new position in shares of Marathon Petroleum in the fourth quarter valued at $189,000. Finally, BB&T Investment Services Inc. boosted its stake in shares of 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 purchasing an additional 1,659 shares during the period. Institutional investors and hedge funds own 80.38% of the company’s stock.
Several research analysts have recently weighed in on the stock. Credit Suisse Group restated an “outperform” rating and issued a $89.00 target price on shares of Marathon Petroleum in a research note on Wednesday, March 7th. Piper Jaffray Companies reiterated a “buy” rating and set a $90.00 price objective on shares of Marathon Petroleum in a research note on Friday, February 23rd. Barclays reiterated a “buy” rating and set a $90.00 price objective on shares of Marathon Petroleum in a research note on Friday, February 16th. Goldman Sachs Group upgraded shares of Marathon Petroleum from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 13th. Finally, Jefferies Group downgraded shares of Marathon Petroleum from a “buy” rating to a “hold” rating and set a $70.00 price objective on the stock. in a research note on Monday, February 5th. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. Marathon Petroleum has an average rating of “Buy” and an average price target of $78.08.
Marathon Petroleum Corp (NYSE:MPC) opened at $69.27 on Tuesday. Marathon Petroleum Corp has a 52 week low of $47.78 and a 52 week high of $73.53. 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 company has a market cap of $33,428.91, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 1.01 and a beta of 1.49.
Marathon Petroleum (NYSE:MPC) last issued its earnings results on Thursday, February 1st. The oil and gas company reported $1.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.05. The company had revenue of $21.24 billion for the quarter, compared to analysts’ expectations of $17.27 billion. Marathon Petroleum had a net margin of 4.60% and a return on equity of 9.90%. The firm’s revenue was up 22.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.43 earnings per share. equities research analysts predict that Marathon Petroleum Corp will post 4.91 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, March 12th. Shareholders 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 dividend yield of 2.66%. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.40. The ex-dividend date was Tuesday, February 20th. Marathon Petroleum’s dividend payout ratio is 26.59%.
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Marathon Petroleum 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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