Marathon Petroleum Corporation (NYSE:MPC) Shares Sold by Arizona State Retirement System

Arizona State Retirement System lowered its holdings in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 1.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 94,320 shares of the oil and gas company's stock after selling 1,457 shares during the quarter. Arizona State Retirement System's holdings in Marathon Petroleum were worth $13,741,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Ballentine Partners LLC increased its stake in shares of Marathon Petroleum by 7.6% in the first quarter. Ballentine Partners LLC now owns 20,042 shares of the oil and gas company's stock worth $2,920,000 after acquiring an additional 1,421 shares during the period. Joseph Group Capital Management lifted its holdings in Marathon Petroleum by 11.5% during the first quarter. Joseph Group Capital Management now owns 21,837 shares of the oil and gas company's stock valued at $3,181,000 after purchasing an additional 2,259 shares in the last quarter. Hara Capital LLC raised its position in shares of Marathon Petroleum by 73,333.3% in the first quarter. Hara Capital LLC now owns 2,203 shares of the oil and gas company's stock valued at $321,000 after buying an additional 2,200 shares during the last quarter. Allworth Financial LP raised its position in shares of Marathon Petroleum by 7.6% in the first quarter. Allworth Financial LP now owns 13,233 shares of the oil and gas company's stock valued at $1,820,000 after buying an additional 931 shares during the last quarter. Finally, Poinciana Advisors Group LLC acquired a new stake in shares of Marathon Petroleum in the first quarter valued at about $214,000. Institutional investors and hedge funds own 76.77% of the company's stock.

Insider Buying and Selling at Marathon Petroleum

In other news, Director Kim K.W. Rucker sold 7,392 shares of the firm's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total value of $1,293,600.00. Following the sale, the director directly owned 18,944 shares in the company, valued at approximately $3,315,200. This trade represents a 28.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on MPC. UBS Group raised their price objective on shares of Marathon Petroleum from $175.00 to $203.00 and gave the stock a "buy" rating in a research report on Thursday. Raymond James Financial restated a "strong-buy" rating on shares of Marathon Petroleum in a research report on Monday, June 30th. Mizuho raised their price objective on shares of Marathon Petroleum from $168.00 to $184.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Wall Street Zen upgraded shares of Marathon Petroleum from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Evercore ISI began coverage on shares of Marathon Petroleum in a research report on Wednesday, June 18th. They set an "in-line" rating and a $170.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Marathon Petroleum has an average rating of "Moderate Buy" and an average price target of $184.38.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $179.81 on Friday. 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 52 week low of $115.10 and a 52 week high of $183.31. The stock has a market capitalization of $55.24 billion, a PE ratio of 25.29, a P/E/G ratio of 3.53 and a beta of 0.88. The firm has a 50 day moving average of $163.74 and a two-hundred day moving average of $150.00.

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) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.16. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. The company had revenue of $31.85 billion during the quarter, compared to analysts' expectations of $28.91 billion. During the same quarter last year, the company posted $2.58 EPS. The firm's revenue was down 4.1% compared to the same quarter last year. On average, research analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal 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 issued a $0.91 dividend. 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 2.02%. Marathon Petroleum's payout ratio is 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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