Retirement Systems of Alabama Cuts Stake in Marathon Petroleum Corporation (NYSE:MPC)

Retirement Systems of Alabama reduced its position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 2.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,906 shares of the oil and gas company's stock after selling 1,677 shares during the quarter. Retirement Systems of Alabama's holdings in Marathon Petroleum were worth $9,893,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of MPC. SWS Partners lifted its stake in Marathon Petroleum by 19.0% in the fourth quarter. SWS Partners now owns 17,577 shares of the oil and gas company's stock worth $2,452,000 after purchasing an additional 2,806 shares during the last quarter. Greatmark Investment Partners Inc. lifted its stake in shares of Marathon Petroleum by 3.5% in the 4th quarter. Greatmark Investment Partners Inc. now owns 161,171 shares of the oil and gas company's stock valued at $22,483,000 after acquiring an additional 5,476 shares during the last quarter. TCTC Holdings LLC lifted its stake in shares of Marathon Petroleum by 3.3% in the 4th quarter. TCTC Holdings LLC now owns 91,256 shares of the oil and gas company's stock valued at $12,730,000 after acquiring an additional 2,892 shares during the last quarter. Cambridge Financial Group Inc. purchased a new stake in Marathon Petroleum during the 4th quarter valued at about $5,624,000. Finally, New Age Alpha Advisors LLC bought a new position in Marathon Petroleum during the 4th quarter worth approximately $1,192,000. 76.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MPC. Piper Sandler lowered their price objective on Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating for the company in a research report on Friday, March 7th. Raymond James Financial lowered their price target on shares of Marathon Petroleum from $193.00 to $183.00 and set a "strong-buy" rating for the company in a report on Wednesday, April 9th. Scotiabank cut their price target on shares of Marathon Petroleum from $169.00 to $147.00 and set a "sector outperform" rating on the stock in a report on Friday, April 11th. Evercore ISI assumed 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 objective for the company. Finally, TD Cowen increased their target price 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. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $175.80.

Marathon Petroleum Stock Up 0.4%

Shares of NYSE MPC traded up $0.58 during mid-day trading on Wednesday, hitting $165.87. 2,006,853 shares of the stock traded hands, compared to its average volume of 2,692,245. The company has a market cap of $50.96 billion, a price-to-earnings ratio of 23.33, a PEG ratio of 3.26 and a beta of 0.89. The stock has a fifty day moving average price of $154.31 and a 200-day moving average price of $147.18. Marathon Petroleum Corporation has a 52 week low of $115.10 and a 52 week high of $183.31. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.73 and a current ratio of 1.19.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $31.85 billion during the quarter, compared to analyst estimates of $28.91 billion. Marathon Petroleum had a return on equity of 8.89% and a net margin of 1.75%. The company's revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.58 earnings per share. Research analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st were issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date was Wednesday, May 21st. Marathon Petroleum's dividend payout ratio (DPR) is presently 51.20%.

Marathon Petroleum Company 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.