Oregon Public Employees Retirement Fund Buys 8,303 Shares of Marathon Petroleum Corporation $MPC

Oregon Public Employees Retirement Fund lifted its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 31.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,782 shares of the oil and gas company’s stock after acquiring an additional 8,303 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Marathon Petroleum were worth $6,704,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MPC. Delos Wealth Advisors LLC bought a new position in shares of Marathon Petroleum in the second quarter worth approximately $25,000. Activest Wealth Management raised its position in shares of Marathon Petroleum by 290.2% during the 2nd quarter. Activest Wealth Management now owns 160 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 119 shares during the period. NewSquare Capital LLC lifted its stake in shares of Marathon Petroleum by 103.1% during the 2nd quarter. NewSquare Capital LLC now owns 199 shares of the oil and gas company’s stock valued at $33,000 after buying an additional 101 shares in the last quarter. WFA of San Diego LLC bought a new position in Marathon Petroleum in the 2nd quarter worth $33,000. Finally, Transce3nd LLC increased its stake in Marathon Petroleum by 10,250.0% in the 2nd quarter. Transce3nd LLC now owns 207 shares of the oil and gas company’s stock worth $34,000 after buying an additional 205 shares in the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Down 0.4%

NYSE MPC opened at $176.39 on Friday. The stock has a 50 day moving average price of $183.16 and a 200-day moving average price of $180.34. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $202.29. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.79 and a current ratio of 1.32. The company has a market capitalization of $53.02 billion, a P/E ratio of 18.80, a P/E/G ratio of 0.67 and a beta of 0.74.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share 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 company had revenue of $34.81 billion for the quarter, compared to analysts’ expectations of $31.06 billion. As a group, equities analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price objective on Marathon Petroleum from $183.00 to $211.00 and gave the company a “neutral” rating in a research report on Wednesday, November 12th. Raymond James Financial decreased their target price on Marathon Petroleum from $215.00 to $205.00 and set an “outperform” rating on the stock in a research note on Monday, December 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of Marathon Petroleum in a report on Wednesday, October 8th. Piper Sandler cut their price objective on shares of Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating for the company in a report on Thursday. Finally, UBS Group lifted their price objective on shares of Marathon Petroleum from $203.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $199.71.

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.