Vestcor Inc Has $8.34 Million Holdings in Marathon Petroleum Corporation (NYSE:MPC)

Vestcor Inc grew its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 77.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,274 shares of the oil and gas company's stock after acquiring an additional 25,012 shares during the period. Vestcor Inc's holdings in Marathon Petroleum were worth $8,344,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Fourth Dimension Wealth LLC bought a new position in Marathon Petroleum during the 4th quarter worth approximately $26,000. CBIZ Investment Advisory Services LLC raised its position in shares of Marathon Petroleum by 1,546.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company's stock worth $31,000 after purchasing an additional 201 shares during the period. Hughes Financial Services LLC acquired a new stake in shares of Marathon Petroleum during the 1st quarter worth approximately $32,000. Decker Retirement Planning Inc. raised its position 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 worth $35,000 after purchasing an additional 227 shares during the period. Finally, Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Marathon Petroleum during the 1st quarter worth approximately $35,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Stock Down 2.6%

Shares of Marathon Petroleum stock traded down $4.54 during midday trading on Wednesday, hitting $170.89. The company's stock had a trading volume of 1,492,318 shares, compared to its average volume of 1,963,375. The firm has a market capitalization of $52.50 billion, a P/E ratio of 24.04, a PEG ratio of 3.00 and a beta of 0.88. The stock has a 50-day simple moving average of $168.18 and a 200-day simple moving average of $152.87. 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 1-year low of $115.10 and a 1-year high of $183.31.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (EPS) 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 firm had revenue of $31.85 billion during the quarter, compared to analysts' expectations of $28.91 billion. During the same quarter last year, the firm earned $2.58 earnings per share. The business's revenue for the quarter was down 4.1% on a year-over-year basis. As a group, sell-side analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 2.13%. Marathon Petroleum's dividend payout ratio is presently 51.20%.

Wall Street Analyst Weigh In

MPC has been the subject of a number of research reports. Morgan Stanley increased their price target on Marathon Petroleum from $160.00 to $182.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. UBS Group increased their price target on Marathon Petroleum from $175.00 to $203.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. Wolfe Research lowered Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. Barclays increased their price target on Marathon Petroleum from $159.00 to $189.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Finally, Mizuho increased their price target on Marathon Petroleum from $168.00 to $184.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $183.93.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 7,392 shares of the company'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 completion of the transaction, the director owned 18,944 shares of the company's stock, valued at $3,315,200. This represents a 28.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.21% of the company's stock.

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.