TIAA Trust National Association Buys 2,985 Shares of Marathon Petroleum Co. (NYSE:MPC)

TIAA Trust National Association boosted its position in Marathon Petroleum Co. (NYSE:MPC) by 38.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,800 shares of the oil and gas company’s stock after buying an additional 2,985 shares during the quarter. TIAA Trust National Association’s holdings in Marathon Petroleum were worth $2,176,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Marathon Petroleum in the 4th quarter valued at approximately $25,000. FinTrust Capital Advisors LLC grew its position in shares of Marathon Petroleum by 400.0% in the first quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 100 shares in the last quarter. ICA Group Wealth Management LLC bought a new stake in shares of Marathon Petroleum during the 4th quarter valued at $30,000. Vima LLC purchased a new stake in Marathon Petroleum during the 4th quarter worth about $30,000. Finally, Bruce G. Allen Investments LLC purchased a new position in Marathon Petroleum during the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MPC. Scotiabank cut their price objective on shares of Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Jefferies Financial Group boosted their price objective on Marathon Petroleum from $222.00 to $231.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Raymond James decreased their price target on shares of Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating on the stock in a research note on Thursday, May 30th. Wolfe Research began coverage on shares of Marathon Petroleum in a report on Thursday. They set an “outperform” rating and a $200.00 target price on the stock. Finally, Barclays lowered their price target on shares of Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating for the company in a research note on Monday, July 1st. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $193.64.

Marathon Petroleum Trading Up 0.6 %

Shares of Marathon Petroleum stock traded up $1.01 during midday trading on Monday, reaching $166.17. 1,201,893 shares of the company’s stock traded hands, compared to its average volume of 2,683,530. The company has a market cap of $58.55 billion, a PE ratio of 8.25, a price-to-earnings-growth ratio of 1.99 and a beta of 1.40. The stock has a 50 day moving average of $172.56 and a 200-day moving average of $177.74. Marathon Petroleum Co. has a 12 month low of $126.21 and a 12 month high of $221.11. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.99 and a current ratio of 1.43.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.25. The company had revenue of $32.71 billion during the quarter, compared to the consensus estimate of $32.07 billion. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. Marathon Petroleum’s revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the firm earned $6.09 earnings per share. As a group, equities analysts expect that Marathon Petroleum Co. will post 13.84 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Thursday, May 16th were given a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend was Wednesday, May 15th. Marathon Petroleum’s dividend payout ratio is currently 16.48%.

Marathon Petroleum declared that its board has authorized a share repurchase plan on Tuesday, April 30th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows 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 believes its stock is undervalued.

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.