Public Employees Retirement System of Ohio Has $20.47 Million Position in Marathon Petroleum Corporation $MPC

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in Marathon Petroleum Corporation by 20.3% during the 2nd quarter, holding 123,253 shares valued at approximately $20.47 million.
• Several institutional investors have increased their stakes in Marathon Petroleum, with Brighton Jones LLC raising its holdings by 30.9% and others acquiring new positions.
• Marathon Petroleum's stock is currently rated as a "Moderate Buy" with a consensus price target of $192.50, and it reported a net margin of 1.58% for the most recent quarter.

Public Employees Retirement System of Ohio cut its stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 20.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 123,253 shares of the oil and gas company's stock after selling 31,359 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Marathon Petroleum were worth $20,474,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC raised its holdings in Marathon Petroleum by 30.9% in the 4th quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company's stock valued at $696,000 after acquiring an additional 1,178 shares during the period. Park Square Financial Group LLC bought a new stake in shares of Marathon Petroleum during the fourth quarter worth approximately $69,000. Copia Wealth Management acquired a new position in shares of Marathon Petroleum in the fourth quarter valued at approximately $88,000. NorthCrest Asset Manangement LLC increased its stake in shares of Marathon Petroleum by 7.2% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 32,202 shares of the oil and gas company's stock worth $4,492,000 after purchasing an additional 2,172 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Marathon Petroleum by 25.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 108,060 shares of the oil and gas company's stock worth $15,074,000 after purchasing an additional 21,947 shares during the last quarter. Institutional investors own 76.77% of the company's stock.

Analyst Ratings Changes

MPC has been the topic of a number of research reports. Piper Sandler increased their price objective on Marathon Petroleum from $184.00 to $222.00 and gave the stock a "neutral" rating in a research report on Thursday, September 11th. Citigroup raised their price target on shares of Marathon Petroleum from $144.00 to $182.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 16th. Barclays boosted their price objective on shares of Marathon Petroleum from $159.00 to $189.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Dbs Bank raised shares of Marathon Petroleum to a "moderate buy" rating in a report on Monday, July 28th. Finally, Mizuho boosted their price target on Marathon Petroleum from $184.00 to $188.00 and gave the company a "neutral" rating in a research note on Monday, September 15th. Eight analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $192.50.

Insider Transactions at Marathon Petroleum

In related 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 directly owned 18,944 shares of the company's stock, valued at approximately $3,315,200. The trade was a 28.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Molly R. Benson sold 10,879 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the completion of the transaction, the insider directly owned 28,700 shares of the company's stock, valued at approximately $4,678,100. The trade was a 27.49% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company's stock.

Marathon Petroleum Stock Performance

Shares of Marathon Petroleum stock opened at $196.54 on Friday. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. The company has a market cap of $59.75 billion, a PE ratio of 29.16, a price-to-earnings-growth ratio of 3.35 and a beta of 0.97. The company has a 50 day moving average of $174.60 and a 200-day moving average of $159.93. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $196.70.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, beating the consensus estimate of $3.22 by $0.74. The business had revenue of $34.10 billion during the quarter, compared to the consensus estimate of $31.70 billion. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The company's revenue was down 11.1% on a year-over-year basis. During the same period in the previous year, the business earned $4.12 earnings per share. As a group, equities research analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th were paid a $0.91 dividend. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $3.64 annualized dividend and a yield of 1.9%. Marathon Petroleum's dividend payout ratio (DPR) is 54.01%.

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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