Marathon Petroleum Corporation $MPC Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System lessened its stake in Marathon Petroleum Corporation (NYSE:MPC) by 4.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 348,753 shares of the oil and gas company’s stock after selling 15,505 shares during the period. California State Teachers Retirement System’s holdings in Marathon Petroleum were worth $85,159,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MPC. Navalign LLC purchased a new position in shares of Marathon Petroleum during the 4th quarter valued at approximately $30,000. Kohmann Bosshard Financial Services LLC purchased a new stake in Marathon Petroleum during the fourth quarter worth $31,000. Berbice Capital Management LLC grew its position in Marathon Petroleum by 100.0% during the fourth quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock valued at $33,000 after buying an additional 100 shares during the period. WFA of San Diego LLC purchased a new position in Marathon Petroleum in the second quarter valued at $33,000. Finally, Ares Financial Consulting LLC purchased a new position in Marathon Petroleum in the fourth quarter valued at $34,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Stock Up 1.0%

MPC stock opened at $309.09 on Thursday. Marathon Petroleum Corporation has a 52 week low of $158.00 and a 52 week high of $326.92. The company has a quick ratio of 0.73, a current ratio of 1.18 and a debt-to-equity ratio of 1.31. The firm has a 50-day simple moving average of $271.59 and a 200-day simple moving average of $235.89. The stock has a market capitalization of $90.24 billion, a P/E ratio of 20.18, a P/E/G ratio of 0.19 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.91. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The company had revenue of $34.20 billion for the quarter, compared to analysts’ expectations of $33.42 billion. During the same period in the previous year, the firm posted ($0.24) EPS. Marathon Petroleum’s revenue was up 8.5% compared to the same quarter last year. Equities analysts forecast that Marathon Petroleum Corporation will post 43.19 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors 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 1.3%. The ex-dividend date is Wednesday, August 19th. Marathon Petroleum’s payout ratio is presently 26.11%.

Wall Street Analysts Forecast Growth

MPC has been the topic of several recent analyst reports. Raymond James Financial increased their target price on shares of Marathon Petroleum from $300.00 to $335.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Piper Sandler reaffirmed an “overweight” rating and issued a $343.00 price target on shares of Marathon Petroleum in a report on Thursday, July 23rd. JPMorgan Chase & Co. increased their price target on Marathon Petroleum from $235.00 to $257.00 in a research report on Wednesday, May 6th. Jefferies Financial Group set a $335.00 price objective on Marathon Petroleum and gave the company a “buy” rating in a report on Sunday, July 12th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Marathon Petroleum in a research report on Friday, June 12th. Eleven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $298.69.

Insider Buying and Selling

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total value of $1,703,243.52. Following the transaction, the vice president owned 16,900 shares in the company, valued at approximately $4,543,058. This trade represents a 27.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Marathon Petroleum Company 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.