Dorsey Wright & Associates Invests $1.33 Million in Marathon Petroleum Co. (NYSE:MPC)

Dorsey Wright & Associates acquired a new position in shares of Marathon Petroleum Co. (NYSE:MPCFree Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,992 shares of the oil and gas company’s stock, valued at approximately $1,334,000.

A number of other hedge funds also recently made changes to their positions in MPC. Dimensional Fund Advisors LP grew its stake in Marathon Petroleum by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,153,636 shares of the oil and gas company’s stock valued at $764,526,000 after acquiring an additional 137,341 shares during the period. Northern Trust Corp grew its stake in Marathon Petroleum by 1.0% in the third quarter. Northern Trust Corp now owns 4,526,814 shares of the oil and gas company’s stock valued at $685,088,000 after acquiring an additional 43,989 shares during the period. Raymond James & Associates grew its stake in Marathon Petroleum by 2.4% in the fourth quarter. Raymond James & Associates now owns 4,102,057 shares of the oil and gas company’s stock valued at $608,581,000 after acquiring an additional 96,753 shares during the period. Norges Bank acquired a new stake in Marathon Petroleum in the fourth quarter valued at approximately $500,685,000. Finally, Pacer Advisors Inc. grew its stake in Marathon Petroleum by 8.3% in the fourth quarter. Pacer Advisors Inc. now owns 2,341,364 shares of the oil and gas company’s stock valued at $347,365,000 after acquiring an additional 178,502 shares during the period. 76.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Barclays cut their target price on Marathon Petroleum from $221.00 to $195.00 and set an “overweight” rating on the stock in a research report on Monday, May 6th. Raymond James dropped their price target on Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating on the stock in a report on Thursday, May 30th. Bank of America lifted their price target on Marathon Petroleum from $185.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Wells Fargo & Company lifted their price target on Marathon Petroleum from $214.00 to $227.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Finally, Scotiabank lifted their price target on Marathon Petroleum from $175.00 to $207.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $194.23.

Get Our Latest Research Report on Marathon Petroleum

Marathon Petroleum Price Performance

Marathon Petroleum stock traded down $1.03 during midday trading on Tuesday, reaching $173.72. The company had a trading volume of 266,629 shares, compared to its average volume of 2,696,975. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.43 and a quick ratio of 0.99. The firm’s fifty day simple moving average is $191.48 and its 200-day simple moving average is $172.53. Marathon Petroleum Co. has a 12-month low of $106.95 and a 12-month high of $221.11. The company has a market capitalization of $61.21 billion, a P/E ratio of 8.73, a P/E/G ratio of 1.53 and a beta of 1.45.

Marathon Petroleum (NYSE:MPCGet Free Report) last released its earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.25. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The business had revenue of $32.71 billion for the quarter, compared to analyst estimates of $32.07 billion. During the same period last year, the company posted $6.09 EPS. The business’s revenue was down 6.2% on a year-over-year basis. As a group, equities analysts anticipate that Marathon Petroleum Co. will post 19.3 EPS for the current year.

Marathon Petroleum announced that its Board of Directors has authorized a share repurchase plan on Tuesday, April 30th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the oil and gas company to purchase up to 7.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 16th will be paid a $0.825 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $3.30 annualized dividend and a dividend yield of 1.90%. Marathon Petroleum’s dividend payout ratio (DPR) is 16.48%.

About Marathon Petroleum

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding MPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Petroleum Co. (NYSE:MPCFree Report).

Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

Receive News & Ratings for Marathon Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marathon Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.