Commonwealth of Pennsylvania Public School Empls Retrmt SYS Lowers Position in Marathon Petroleum Co. (NYSE:MPC)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 6.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 68,337 shares of the oil and gas company’s stock after selling 4,520 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Marathon Petroleum were worth $9,533,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MPC. Prospera Private Wealth LLC purchased a new position in shares of Marathon Petroleum in the third quarter valued at about $57,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Marathon Petroleum in the third quarter valued at about $1,327,000. Darwin Wealth Management LLC purchased a new position in shares of Marathon Petroleum in the third quarter valued at about $33,000. Citizens Financial Group Inc. RI lifted its position in shares of Marathon Petroleum by 1.3% in the third quarter. Citizens Financial Group Inc. RI now owns 18,630 shares of the oil and gas company’s stock valued at $3,035,000 after acquiring an additional 244 shares in the last quarter. Finally, Smithfield Trust Co increased its holdings in shares of Marathon Petroleum by 17.7% in the third quarter. Smithfield Trust Co now owns 2,329 shares of the oil and gas company’s stock worth $379,000 after purchasing an additional 350 shares during the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Raymond James lifted their target price on Marathon Petroleum from $190.00 to $192.00 and gave the stock a “strong-buy” rating in a report on Friday, January 17th. Mizuho dropped their target price on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. TD Cowen restated a “buy” rating and set a $170.00 target price on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Piper Sandler lowered their price target on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Finally, Tudor Pickering upgraded Marathon Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $182.27.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $149.62 on Friday. The business’s fifty day simple moving average is $149.04 and its 200-day simple moving average is $152.32. The company has a market cap of $46.61 billion, a PE ratio of 15.07, a PEG ratio of 3.11 and a beta of 1.39. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. Marathon Petroleum Co. has a 12-month low of $130.54 and a 12-month high of $221.11.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.71. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The business had revenue of $33.47 billion for the quarter, compared to the consensus estimate of $31.94 billion. During the same period in the prior year, the firm posted $3.98 earnings per share. The business’s quarterly revenue was down 9.1% on a year-over-year basis. Analysts expect that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Wednesday, February 19th were given a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.43%. The ex-dividend date was Wednesday, February 19th. Marathon Petroleum’s payout ratio is 36.66%.

Insider Activity at Marathon Petroleum

In related news, Director Evan Bayh purchased 1,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were bought at an average cost of $133.70 per share, with a total value of $133,700.00. Following the transaction, the director now owns 69,305 shares of the company’s stock, valued at approximately $9,266,078.50. This trade represents a 1.46 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ricky D. Hessling purchased 2,000 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were bought at an average cost of $134.72 per share, for a total transaction of $269,440.00. Following the completion of the transaction, the insider now directly owns 12,162 shares in the company, valued at $1,638,464.64. This trade represents a 19.68 % increase in their position. The disclosure for this purchase can be found here. 0.21% of the stock is owned by insiders.

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.