F3Logic LLC bought a new stake in Marathon Petroleum Corp (NYSE:MPC) during the first quarter, HoldingsChannel.com reports. The fund bought 5,304 shares of the oil and gas company’s stock, valued at approximately $317,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of MPC. BlackRock Inc. grew its position in shares of Marathon Petroleum by 36.6% in the 4th quarter. BlackRock Inc. now owns 54,581,132 shares of the oil and gas company’s stock valued at $3,220,832,000 after buying an additional 14,619,755 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of Marathon Petroleum by 9,095.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 14,042,197 shares of the oil and gas company’s stock valued at $238,000 after buying an additional 13,889,489 shares during the last quarter. Norges Bank purchased a new position in shares of Marathon Petroleum in the 4th quarter valued at $462,677,000. Boston Partners grew its position in shares of Marathon Petroleum by 81.9% in the 4th quarter. Boston Partners now owns 12,173,365 shares of the oil and gas company’s stock valued at $718,350,000 after buying an additional 5,479,818 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Marathon Petroleum by 70.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,065,459 shares of the oil and gas company’s stock valued at $593,940,000 after buying an additional 4,153,879 shares during the last quarter. 77.93% of the stock is currently owned by hedge funds and other institutional investors.
MPC stock opened at $51.31 on Thursday. Marathon Petroleum Corp has a one year low of $50.19 and a one year high of $88.45. The firm has a market capitalization of $33.61 billion, a PE ratio of 7.57, a PEG ratio of 1.24 and a beta of 1.35. The company has a quick ratio of 0.55, a current ratio of 1.20 and a debt-to-equity ratio of 0.69.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Thursday, May 16th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 4.13%. The ex-dividend date of this dividend is Wednesday, May 15th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 31.27%.
In other news, CEO Gary R. Heminger sold 187,142 shares of the firm’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $65.00, for a total value of $12,164,230.00. Following the completion of the sale, the chief executive officer now owns 434,166 shares in the company, valued at approximately $28,220,790. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.06% of the stock is currently owned by company insiders.
MPC has been the topic of several research reports. Cowen downgraded shares of Marathon Petroleum from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $90.00 to $65.00 in a research report on Friday, May 10th. Credit Suisse Group lowered their price objective on shares of Marathon Petroleum from $95.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday. Royal Bank of Canada lowered their price objective on shares of Marathon Petroleum from $71.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Raymond James lowered their price objective on shares of Marathon Petroleum from $90.00 to $85.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, April 10th. Finally, Macquarie initiated coverage on shares of Marathon Petroleum in a research report on Tuesday, February 5th. They set an “outperform” rating and a $67.18 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. Marathon Petroleum presently has a consensus rating of “Buy” and an average price target of $86.27.
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Marathon Petroleum Company Profile
Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Retail, and Midstream. The Refining & Marketing segment refines crude oil and other feed stocks at its 16 refineries in the West Coast, Gulf Coast, and Mid-Continent regions of the United States; and purchases refined products and ethanol for resale.
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