Cim Investment Mangement Inc. bought a new position in shares of Marathon Petroleum Corp (NYSE:MPC) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,336 shares of the oil and gas company’s stock, valued at approximately $347,000.

Several other hedge funds have also made changes to their positions in MPC. PointState Capital LP bought a new stake in shares of Marathon Petroleum during the second quarter worth $378,482,000. Bank of New York Mellon Corp grew its holdings in shares of Marathon Petroleum by 44.1% during the second quarter. Bank of New York Mellon Corp now owns 7,506,332 shares of the oil and gas company’s stock worth $526,645,000 after purchasing an additional 2,297,774 shares during the last quarter. Morgan Stanley grew its holdings in shares of Marathon Petroleum by 59.5% during the second quarter. Morgan Stanley now owns 5,798,607 shares of the oil and gas company’s stock worth $406,829,000 after purchasing an additional 2,162,851 shares during the last quarter. Third Point LLC grew its holdings in shares of Marathon Petroleum by 55.0% during the second quarter. Third Point LLC now owns 3,100,000 shares of the oil and gas company’s stock worth $217,496,000 after purchasing an additional 1,100,000 shares during the last quarter. Finally, Iridian Asset Management LLC CT grew its holdings in shares of Marathon Petroleum by 24.5% during the third quarter. Iridian Asset Management LLC CT now owns 4,585,337 shares of the oil and gas company’s stock worth $366,689,000 after purchasing an additional 903,373 shares during the last quarter. Institutional investors own 83.16% of the company’s stock.

Shares of MPC opened at $61.89 on Wednesday. The company has a current ratio of 1.65, a quick ratio of 1.09 and a debt-to-equity ratio of 0.97. Marathon Petroleum Corp has a 12-month low of $60.64 and a 12-month high of $88.45. The firm has a market cap of $45.21 billion, a PE ratio of 16.29, a PEG ratio of 0.89 and a beta of 1.50.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Thursday, November 1st. The oil and gas company reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.02. Marathon Petroleum had a return on equity of 12.28% and a net margin of 4.48%. The business had revenue of $23.13 billion for the quarter, compared to analyst estimates of $23.20 billion. During the same quarter in the prior year, the firm posted $1.77 earnings per share. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. Research analysts anticipate that Marathon Petroleum Corp will post 5.16 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Wednesday, November 21st will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.97%. The ex-dividend date is Tuesday, November 20th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 48.42%.

Several analysts have recently commented on the company. Zacks Investment Research upgraded Marathon Petroleum from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a report on Tuesday, October 9th. Wells Fargo & Co restated a “buy” rating on shares of Marathon Petroleum in a report on Monday, August 27th. Barclays assumed coverage on Marathon Petroleum in a report on Wednesday, October 3rd. They set an “overweight” rating and a $125.00 target price on the stock. Citigroup increased their target price on Marathon Petroleum from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, September 7th. Finally, Goldman Sachs Group assumed coverage on Marathon Petroleum in a report on Tuesday, October 2nd. They set a “conviction-buy” rating on the stock. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Marathon Petroleum presently has an average rating of “Buy” and an average price target of $91.44.

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Marathon Petroleum 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, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.

Further Reading: How To Calculate Debt-to-Equity Ratio

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

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