Marathon Petroleum Corporation (NYSE:MPC) Stake Reduced by New York State Common Retirement Fund

New York State Common Retirement Fund cut its holdings in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 7.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 351,197 shares of the oil and gas company's stock after selling 30,262 shares during the quarter. New York State Common Retirement Fund owned about 0.11% of Marathon Petroleum worth $51,166,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Platform Technology Partners purchased a new position in Marathon Petroleum in the 1st quarter worth about $202,000. Ballentine Partners LLC increased its stake in Marathon Petroleum by 7.6% in the 1st quarter. Ballentine Partners LLC now owns 20,042 shares of the oil and gas company's stock worth $2,920,000 after purchasing an additional 1,421 shares in the last quarter. Joseph Group Capital Management increased its stake in Marathon Petroleum by 11.5% in the 1st quarter. Joseph Group Capital Management now owns 21,837 shares of the oil and gas company's stock worth $3,181,000 after purchasing an additional 2,259 shares in the last quarter. Hara Capital LLC increased its stake in Marathon Petroleum by 73,333.3% in the 1st quarter. Hara Capital LLC now owns 2,203 shares of the oil and gas company's stock worth $321,000 after purchasing an additional 2,200 shares in the last quarter. Finally, Allworth Financial LP increased its stake in Marathon Petroleum by 7.6% in the 1st quarter. Allworth Financial LP now owns 13,233 shares of the oil and gas company's stock worth $1,820,000 after purchasing an additional 931 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Stock Down 1.3%

Shares of Marathon Petroleum stock opened at $179.81 on Monday. The firm has a market cap of $55.24 billion, a price-to-earnings ratio of 25.29, a P/E/G ratio of 3.59 and a beta of 0.88. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.19 and a quick ratio of 0.73. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $183.31. The stock has a 50-day simple moving average of $163.74 and a 200-day simple moving average of $150.10.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, beating analysts' consensus estimates of ($0.40) by $0.16. Marathon Petroleum had a return on equity of 8.89% and a net margin of 1.75%. The business had revenue of $31.85 billion for the quarter, compared to the consensus estimate of $28.91 billion. During the same period last year, the business earned $2.58 EPS. The firm's revenue was down 4.1% compared to the same quarter last year. On average, equities research analysts expect that Marathon Petroleum Corporation 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 was paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st were paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend was Wednesday, May 21st. Marathon Petroleum's payout ratio is 51.20%.

Insider Buying and Selling at Marathon Petroleum

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. UBS Group lifted their price target on Marathon Petroleum from $175.00 to $203.00 and gave the stock a "buy" rating in a research note on Thursday. Raymond James Financial restated a "strong-buy" rating on shares of Marathon Petroleum in a research report on Monday, June 30th. Morgan Stanley decreased their price objective on Marathon Petroleum from $175.00 to $160.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Evercore ISI began coverage on 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. Finally, Mizuho raised their price objective on Marathon Petroleum from $168.00 to $184.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $184.38.

Marathon Petroleum 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.

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