California State Teachers Retirement System Sells 195,561 Shares of Marathon Petroleum Co. (NYSE:MPC)

California State Teachers Retirement System reduced its stake in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 32.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 398,136 shares of the oil and gas company's stock after selling 195,561 shares during the quarter. California State Teachers Retirement System owned 0.13% of Marathon Petroleum worth $55,540,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Fourth Dimension Wealth LLC acquired a new position in Marathon Petroleum during the fourth quarter worth $26,000. Kohmann Bosshard Financial Services LLC acquired a new position in Marathon Petroleum during the fourth quarter worth $27,000. Asset Planning Inc acquired a new position in Marathon Petroleum during the fourth quarter worth $28,000. Sierra Ocean LLC acquired a new position in Marathon Petroleum during the fourth quarter worth $31,000. Finally, Cape Investment Advisory Inc. raised its holdings in Marathon Petroleum by 762.9% during the fourth quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company's stock worth $42,000 after purchasing an additional 267 shares during the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MPC has been the subject of a number of analyst reports. TD Cowen boosted their price target on Marathon Petroleum from $142.00 to $152.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Piper Sandler cut their price target on Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating for the company in a report on Friday, March 7th. Scotiabank cut their price target on Marathon Petroleum from $169.00 to $147.00 and set a "sector outperform" rating for the company in a report on Friday, April 11th. Wall Street Zen raised Marathon Petroleum from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Barclays upped their target price on Marathon Petroleum from $141.00 to $159.00 and gave the company an "overweight" rating in a research note on Monday, May 12th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $175.29.

Insider Activity at Marathon Petroleum

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

Marathon Petroleum Trading Up 0.8%

NYSE:MPC traded up $1.24 on Thursday, hitting $159.85. 1,961,170 shares of the stock were exchanged, compared to its average volume of 2,703,272. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. Marathon Petroleum Co. has a fifty-two week low of $115.10 and a fifty-two week high of $183.31. The stock has a market cap of $49.11 billion, a PE ratio of 16.10, a PEG ratio of 3.11 and a beta of 0.87. The stock has a fifty day moving average of $142.38 and a 200-day moving average of $146.20.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.40) by $0.16. The business had revenue of $31.85 billion during the quarter, compared to analyst estimates of $28.91 billion. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The business's revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.58 earnings per share. As a group, equities analysts expect that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $3.64 dividend on an annualized basis and a yield of 2.28%. Marathon Petroleum's dividend payout ratio is currently 51.20%.

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.