Teacher Retirement System of Texas Has $72.74 Million Stake in Marathon Petroleum Co. (NYSE:MPC)

Teacher Retirement System of Texas increased its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 456.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 521,429 shares of the oil and gas company’s stock after buying an additional 427,667 shares during the quarter. Teacher Retirement System of Texas owned about 0.16% of Marathon Petroleum worth $72,739,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in shares of Marathon Petroleum by 342.1% during the 3rd quarter. Wellington Management Group LLP now owns 5,593,729 shares of the oil and gas company’s stock worth $911,274,000 after purchasing an additional 4,328,470 shares in the last quarter. Boston Partners grew its stake in Marathon Petroleum by 37.4% during the fourth quarter. Boston Partners now owns 3,436,704 shares of the oil and gas company’s stock worth $480,501,000 after buying an additional 935,042 shares in the last quarter. Pacer Advisors Inc. increased its holdings in Marathon Petroleum by 22.3% in the 4th quarter. Pacer Advisors Inc. now owns 3,552,655 shares of the oil and gas company’s stock valued at $495,595,000 after buying an additional 647,045 shares during the period. National Bank of Canada FI increased its holdings in Marathon Petroleum by 212.9% in the 3rd quarter. National Bank of Canada FI now owns 846,756 shares of the oil and gas company’s stock valued at $137,945,000 after buying an additional 576,119 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in shares of Marathon Petroleum by 1,204.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 543,062 shares of the oil and gas company’s stock valued at $75,757,000 after buying an additional 501,441 shares in the last quarter. Institutional investors own 76.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MPC. Barclays increased their price target on shares of Marathon Petroleum from $159.00 to $161.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. Tudor Pickering raised Marathon Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 4th. Raymond James boosted their price target on Marathon Petroleum from $190.00 to $192.00 and gave the stock a “strong-buy” rating in a report on Friday, January 17th. Wells Fargo & Company raised their price objective on Marathon Petroleum from $182.00 to $183.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Finally, Piper Sandler lowered their target price on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Marathon Petroleum presently has an average rating of “Moderate Buy” and a consensus price target of $182.13.

Insider Transactions at Marathon Petroleum

In other news, insider Ricky D. Hessling purchased 2,000 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were acquired at an average price of $134.72 per share, with a total value of $269,440.00. Following the completion of the transaction, the insider now owns 12,162 shares of the company’s stock, valued at $1,638,464.64. The trade was a 19.68 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Evan Bayh purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were acquired at an average price of $133.70 per share, with a total value of $133,700.00. Following the completion of the acquisition, the director now owns 69,305 shares in the company, valued at approximately $9,266,078.50. This trade represents a 1.46 % increase in their position. The disclosure for this purchase can be found here. 0.21% of the stock is currently owned by corporate insiders.

Marathon Petroleum Stock Performance

NYSE MPC opened at $149.37 on Thursday. The company has a market capitalization of $46.53 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 3.11 and a beta of 1.39. Marathon Petroleum Co. has a twelve month low of $130.54 and a twelve month high of $221.11. The stock has a fifty day simple moving average of $148.70 and a 200 day simple moving average of $152.52. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.71. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The company had revenue of $33.47 billion during the quarter, compared to the consensus estimate of $31.94 billion. During the same period last year, the company earned $3.98 earnings per share. The firm’s revenue was down 9.1% compared to the same quarter last year. Sell-side analysts expect that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th were paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date was Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio is currently 36.66%.

Marathon Petroleum Company Profile

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.