Public Sector Pension Investment Board Boosts Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

Public Sector Pension Investment Board grew its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,367 shares of the oil and gas company’s stock after acquiring an additional 123 shares during the quarter. Public Sector Pension Investment Board’s holdings in Marathon Petroleum were worth $10,646,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Granite Bay Wealth Management LLC purchased a new position in shares of Marathon Petroleum in the 2nd quarter worth about $219,537,000. Capital Wealth Planning LLC boosted its holdings in shares of Marathon Petroleum by 10,902.9% in the 1st quarter. Capital Wealth Planning LLC now owns 1,110,630 shares of the oil and gas company’s stock worth $223,792,000 after buying an additional 1,100,536 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Marathon Petroleum by 980.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 684,718 shares of the oil and gas company’s stock worth $118,785,000 after buying an additional 621,336 shares during the last quarter. Schroder Investment Management Group boosted its holdings in shares of Marathon Petroleum by 309.9% in the 4th quarter. Schroder Investment Management Group now owns 643,590 shares of the oil and gas company’s stock worth $95,483,000 after buying an additional 486,573 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its holdings in shares of Marathon Petroleum by 64.1% in the 2nd quarter. Panagora Asset Management Inc. now owns 619,049 shares of the oil and gas company’s stock worth $107,393,000 after buying an additional 241,746 shares during the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MPC has been the topic of several recent research reports. JPMorgan Chase & Co. dropped their price objective on shares of Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. StockNews.com downgraded shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a report on Friday, June 14th. TD Cowen upped their price objective on shares of Marathon Petroleum from $187.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Piper Sandler dropped their price objective on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday. Finally, Morgan Stanley dropped their price objective on shares of Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $197.69.

Marathon Petroleum Stock Down 0.1 %

Shares of NYSE MPC opened at $164.21 on Tuesday. Marathon Petroleum Co. has a one year low of $139.32 and a one year high of $221.11. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.31 and a quick ratio of 0.90. The firm’s 50 day simple moving average is $169.94 and its two-hundred day simple moving average is $179.73. The stock has a market capitalization of $57.86 billion, a P/E ratio of 8.20, a PEG ratio of 2.09 and a beta of 1.38.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $1.03. The firm had revenue of $38.36 billion during the quarter, compared to analyst estimates of $36.66 billion. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.32 earnings per share. As a group, analysts expect that Marathon Petroleum Co. will post 12.68 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were paid a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date was Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio (DPR) is presently 16.48%.

About Marathon Petroleum

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.