Public Employees Retirement System of Ohio Invests $25.45 Million in Marathon Petroleum Corporation $MPC

Public Employees Retirement System of Ohio acquired a new stake in Marathon Petroleum Corporation (NYSE:MPC) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 99,527 shares of the oil and gas company’s stock, valued at approximately $25,446,000.

A number of other hedge funds have also recently bought and sold shares of MPC. BlackRock Inc. bought a new stake in Marathon Petroleum during the second quarter worth approximately $6,648,958,000. Bank of New York Mellon Corp acquired a new position in shares of Marathon Petroleum in the 2nd quarter worth $1,029,611,000. Norges Bank acquired a new stake in shares of Marathon Petroleum during the fourth quarter worth $472,312,000. Bank of America Corp DE purchased a new stake in shares of Marathon Petroleum during the second quarter valued at $621,832,000. Finally, Capital Wealth Planning LLC boosted its position in shares of Marathon Petroleum by 49,392.0% in the 4th quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company’s stock valued at $245,157,000 after purchasing an additional 1,495,097 shares during the period. 76.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MPC has been the subject of a number of research analyst reports. Piper Sandler increased their target price on Marathon Petroleum from $343.00 to $344.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. TD Cowen boosted their price objective on shares of Marathon Petroleum from $357.00 to $375.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. JPMorgan Chase & Co. boosted their target price on shares of Marathon Petroleum from $235.00 to $257.00 in a research report on Wednesday, May 6th. Citigroup boosted their price objective on Marathon Petroleum from $303.00 to $318.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Marathon Petroleum in a report on Friday, June 12th. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $312.50.

Insider Activity at Marathon Petroleum

In other news, insider Molly R. Benson sold 17,196 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $358.57, for a total value of $6,165,969.72. Following the sale, the insider directly owned 30,334 shares in the company, valued at approximately $10,876,862.38. This represents a 36.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Michael A. Henschen II sold 6,336 shares of the company’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total value of $1,703,243.52. Following the completion of the sale, the vice president owned 16,900 shares in the company, valued at $4,543,058. This trade represents a 27.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 26,032 shares of company stock valued at $8,744,213 over the last quarter. 0.17% of the stock is owned by company insiders.

Marathon Petroleum Trading Up 1.5%

Marathon Petroleum stock opened at $369.00 on Friday. The business has a 50 day moving average price of $308.87 and a two-hundred day moving average price of $260.20. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19. Marathon Petroleum Corporation has a 12 month low of $161.93 and a 12 month high of $369.12. The stock has a market cap of $107.73 billion, a price-to-earnings ratio of 12.68, a price-to-earnings-growth ratio of 0.24 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, beating analysts’ consensus estimates of $14.27 by $3.46. The business had revenue of $51.99 billion during the quarter, compared to analyst estimates of $40.87 billion. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.Marathon Petroleum’s revenue was up 53.5% on a year-over-year basis. During the same period in the prior year, the company posted $3.96 earnings per share. As a group, equities analysts forecast that Marathon Petroleum Corporation will post 46.66 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, August 19th. Marathon Petroleum’s payout ratio is 13.75%.

Marathon Petroleum Profile

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.