State of Michigan Retirement System Sells 1,500 Shares of Marathon Petroleum Corporation (NYSE:MPC)

State of Michigan Retirement System trimmed its position in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 1.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 85,710 shares of the oil and gas company's stock after selling 1,500 shares during the quarter. State of Michigan Retirement System's holdings in Marathon Petroleum were worth $12,487,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Fourth Dimension Wealth LLC purchased a new stake in shares of Marathon Petroleum during the 4th quarter valued at about $26,000. Decker Retirement Planning Inc. boosted its holdings in shares of Marathon Petroleum by 1,621.4% during the 1st quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company's stock valued at $35,000 after acquiring an additional 227 shares during the last quarter. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Marathon Petroleum during the 1st quarter valued at about $35,000. Capital A Wealth Management LLC purchased a new stake in shares of Marathon Petroleum during the 4th quarter valued at about $52,000. Finally, Millstone Evans Group LLC purchased a new stake in shares of Marathon Petroleum during the 4th quarter valued at about $55,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on MPC shares. UBS Group raised their price target on shares of Marathon Petroleum from $175.00 to $203.00 and gave the company a "buy" rating in a report on Thursday. Morgan Stanley dropped their price target on shares of Marathon Petroleum from $175.00 to $160.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Evercore ISI started coverage on shares of Marathon Petroleum in a report on Wednesday, June 18th. They set an "in-line" rating and a $170.00 price target on the stock. TD Cowen raised their price objective on shares of Marathon Petroleum from $152.00 to $163.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Finally, Wells Fargo & Company raised their price objective on shares of Marathon Petroleum from $182.00 to $205.00 and gave the stock an "overweight" rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $184.38.

Marathon Petroleum Stock Performance

NYSE MPC traded down $2.45 on Friday, reaching $179.81. 4,388,192 shares of the stock were exchanged, compared to its average volume of 2,718,024. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $183.31. The firm has a market capitalization of $55.24 billion, a PE ratio of 25.29, a PEG ratio of 3.58 and a beta of 0.88. The company's 50-day simple moving average is $163.74 and its two-hundred day simple moving average is $149.90. The company has a current ratio of 1.19, a quick ratio of 0.73 and a debt-to-equity ratio of 1.16.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) EPS for the quarter, topping analysts' consensus estimates of ($0.40) by $0.16. The company had revenue of $31.85 billion for the quarter, compared to analysts' expectations of $28.91 billion. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. The firm's revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the business earned $2.58 EPS. Analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st were given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 2.02%. The ex-dividend date was Wednesday, May 21st. Marathon Petroleum's payout ratio is currently 51.20%.

Insider Activity

In other news, Director Kim K.W. Rucker sold 7,392 shares of Marathon Petroleum stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the sale, the director owned 18,944 shares in the company, valued at $3,315,200. This trade represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.21% of the stock is currently owned by insiders.

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.