Teachers Retirement System of The State of Kentucky Makes New $4.93 Million Investment in Marathon Petroleum Co. (NYSE:MPC)

Teachers Retirement System of The State of Kentucky purchased a new position in Marathon Petroleum Co. (NYSE:MPC – Get Rating) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 49,644 shares of the oil and gas company’s stock, valued at approximately $4,931,000.

Several other institutional investors have also added to or reduced their stakes in the business. Cladis Investment Advisory LLC bought a new position in Marathon Petroleum in the third quarter worth approximately $236,000. M&T Bank Corp raised its position in shares of Marathon Petroleum by 1.8% during the 3rd quarter. M&T Bank Corp now owns 34,451 shares of the oil and gas company’s stock valued at $3,422,000 after purchasing an additional 594 shares during the period. M Holdings Securities Inc. raised its position in shares of Marathon Petroleum by 1.0% during the 3rd quarter. M Holdings Securities Inc. now owns 9,292 shares of the oil and gas company’s stock valued at $923,000 after purchasing an additional 95 shares during the period. Advisors Capital Management LLC raised its position in shares of Marathon Petroleum by 1.7% during the 3rd quarter. Advisors Capital Management LLC now owns 40,379 shares of the oil and gas company’s stock valued at $4,867,000 after purchasing an additional 679 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Marathon Petroleum by 39.3% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 851 shares of the oil and gas company’s stock valued at $85,000 after purchasing an additional 240 shares during the period. 76.48% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Kim K.W. Rucker sold 6,000 shares of Marathon Petroleum stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $130.00, for a total transaction of $780,000.00. Following the completion of the transaction, the director now directly owns 34,950 shares of the company’s stock, valued at approximately $4,543,500. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.28% of the stock is owned by corporate insiders.

Marathon Petroleum Stock Performance

Shares of NYSE:MPC opened at $123.66 on Friday. Marathon Petroleum Co. has a 52 week low of $76.06 and a 52 week high of $136.46. The stock has a market capitalization of $54.61 billion, a P/E ratio of 4.33, a PEG ratio of 0.21 and a beta of 1.60. The firm has a fifty day simple moving average of $125.04 and a two-hundred day simple moving average of $115.23. The company has a quick ratio of 1.32, a current ratio of 1.76 and a debt-to-equity ratio of 0.75.

Marathon Petroleum (NYSE:MPC – Get Rating) last issued its quarterly earnings data on Tuesday, January 31st. The oil and gas company reported $6.65 EPS for the quarter, topping analysts’ consensus estimates of $5.54 by $1.11. Marathon Petroleum had a net margin of 8.07% and a return on equity of 41.55%. The business had revenue of $39.82 billion during the quarter, compared to analysts’ expectations of $35.29 billion. During the same period last year, the company posted $1.30 EPS. The business’s revenue was up 12.7% on a year-over-year basis. On average, analysts expect that Marathon Petroleum Co. will post 19.88 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Thursday, February 16th were paid a $0.75 dividend. The ex-dividend date was Wednesday, February 15th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.43%. Marathon Petroleum’s payout ratio is currently 10.49%.

Analysts Set New Price Targets

Several brokerages have recently commented on MPC. Barclays raised their price objective on shares of Marathon Petroleum from $126.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, January 9th. Morgan Stanley raised their price objective on shares of Marathon Petroleum from $125.00 to $140.00 and gave the company an “overweight” rating in a research report on Friday, January 20th. Piper Sandler cut their target price on shares of Marathon Petroleum from $153.00 to $143.00 and set a “neutral” rating for the company in a research note on Monday, December 19th. UBS Group began coverage on shares of Marathon Petroleum in a research note on Wednesday, March 8th. They set a “buy” rating and a $165.00 target price for the company. Finally, Wells Fargo & Company raised their target price on shares of Marathon Petroleum from $133.00 to $153.00 and gave the company an “overweight” rating in a research note on Wednesday, February 1st. Two analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Marathon Petroleum has a consensus rating of “Buy” and a consensus target price of $138.63.

About Marathon Petroleum

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Marathon Petroleum Corp. is an independent company, which engages in the refining, marketing, and transportation of petroleum products in the United States. It operates through the following segments: Refining and Marketing, and Midstream. The Refining and Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals, and trucks that the company owns or operates.