Illinois Municipal Retirement Fund Boosts Holdings in Marathon Petroleum Corporation (NYSE:MPC)

Illinois Municipal Retirement Fund raised its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 3.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 126,324 shares of the oil and gas company's stock after acquiring an additional 3,651 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Marathon Petroleum were worth $18,404,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Transcend Capital Advisors LLC increased its holdings in Marathon Petroleum by 3.6% during the 1st quarter. Transcend Capital Advisors LLC now owns 2,872 shares of the oil and gas company's stock valued at $418,000 after acquiring an additional 100 shares in the last quarter. Diversified Trust Co boosted its stake in shares of Marathon Petroleum by 2.0% during the 1st quarter. Diversified Trust Co now owns 6,678 shares of the oil and gas company's stock worth $973,000 after purchasing an additional 133 shares during the last quarter. Total Wealth Planning & Management Inc. boosted its stake in shares of Marathon Petroleum by 28.5% during the 1st quarter. Total Wealth Planning & Management Inc. now owns 4,069 shares of the oil and gas company's stock worth $593,000 after purchasing an additional 902 shares during the last quarter. Tranquility Partners LLC boosted its stake in shares of Marathon Petroleum by 7.4% during the 1st quarter. Tranquility Partners LLC now owns 10,179 shares of the oil and gas company's stock worth $1,483,000 after purchasing an additional 700 shares during the last quarter. Finally, swisspartners Advisors Ltd boosted its stake in shares of Marathon Petroleum by 8.8% during the 1st quarter. swisspartners Advisors Ltd now owns 24,005 shares of the oil and gas company's stock worth $3,497,000 after purchasing an additional 1,940 shares during the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on MPC. Evercore ISI began coverage on shares of Marathon Petroleum in a research note on Wednesday, June 18th. They set an "in-line" rating and a $170.00 price target on the stock. Morgan Stanley decreased their price target on shares of Marathon Petroleum from $175.00 to $160.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Wells Fargo & Company raised their price target on shares of Marathon Petroleum from $180.00 to $182.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 11th. Piper Sandler decreased their target price on shares of Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating on the stock in a research report on Friday, March 7th. Finally, Scotiabank decreased their target price on shares of Marathon Petroleum from $169.00 to $147.00 and set a "sector outperform" rating on the stock in a research report on Friday, April 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $175.80.

Marathon Petroleum Trading Up 1.1%

Shares of MPC stock opened at $167.56 on Friday. The stock has a market cap of $51.48 billion, a price-to-earnings ratio of 23.57, a price-to-earnings-growth ratio of 3.27 and a beta of 0.89. The company has a quick ratio of 0.73, a current ratio of 1.19 and a debt-to-equity ratio of 1.16. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $183.31. The firm's 50 day moving average price is $155.11 and its two-hundred day moving average price is $147.28.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.40) by $0.16. The company had revenue of $31.85 billion for the quarter, compared to analyst estimates of $28.91 billion. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. The business's quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.58 earnings per share. On average, analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st were paid a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.17%. Marathon Petroleum's dividend payout ratio is currently 51.20%.

About Marathon Petroleum

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.

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