Retirement Systems of Alabama Sells 8,920 Shares of Marathon Petroleum Corp (MPC)

Retirement Systems of Alabama lessened its holdings in Marathon Petroleum Corp (NYSE:MPC) by 3.6% during the 4th quarter, Holdings Channel reports. The firm owned 236,690 shares of the oil and gas company’s stock after selling 8,920 shares during the period. Retirement Systems of Alabama’s holdings in Marathon Petroleum were worth $15,617,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of MPC. Advisory Services Network LLC boosted its stake in shares of Marathon Petroleum by 6.9% in the 2nd quarter. Advisory Services Network LLC now owns 7,381 shares of the oil and gas company’s stock valued at $386,000 after purchasing an additional 477 shares during the last quarter. Lord Abbett & CO. LLC boosted its stake in shares of Marathon Petroleum by 9.8% in the 2nd quarter. Lord Abbett & CO. LLC now owns 211,000 shares of the oil and gas company’s stock valued at $11,042,000 after purchasing an additional 18,900 shares during the last quarter. Achmea Investment Management B.V. boosted its stake in shares of Marathon Petroleum by 19.6% in the 2nd quarter. Achmea Investment Management B.V. now owns 62,672 shares of the oil and gas company’s stock valued at $3,276,000 after purchasing an additional 10,259 shares during the last quarter. Intl Fcstone Inc. bought a new position in shares of Marathon Petroleum in the 2nd quarter valued at about $867,000. Finally, Shikiar Asset Management Inc. boosted its stake in Marathon Petroleum by 2.3% during the 3rd quarter. Shikiar Asset Management Inc. now owns 126,345 shares of the oil and gas company’s stock worth $7,085,000 after acquiring an additional 2,865 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Marathon Petroleum Corp (MPC) opened at $67.93 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.52 and a debt-to-equity ratio of 0.64. Marathon Petroleum Corp has a one year low of $47.78 and a one year high of $73.53. The firm has a market cap of $32,950.80, a P/E ratio of 9.82, a price-to-earnings-growth ratio of 0.94 and a beta of 1.49.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Thursday, February 1st. The oil and gas company reported $1.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.05. Marathon Petroleum had a net margin of 4.60% and a return on equity of 10.04%. The firm had revenue of $21.24 billion for the quarter, compared to analyst estimates of $17.27 billion. During the same quarter in the previous year, the firm posted $0.43 earnings per share. The business’s revenue was up 22.9% on a year-over-year basis. equities research analysts expect that Marathon Petroleum Corp will post 5.05 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Wednesday, February 21st will be paid a $0.46 dividend. The ex-dividend date is Tuesday, February 20th. This represents a $1.84 dividend on an annualized basis and a yield of 2.71%. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.40. Marathon Petroleum’s payout ratio is presently 23.12%.

In other Marathon Petroleum news, VP C. Michael Palmer sold 17,298 shares of Marathon Petroleum stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $64.55, for a total value of $1,116,585.90. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Rodney P. Nichols sold 6,374 shares of Marathon Petroleum stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $64.93, for a total transaction of $413,863.82. Following the completion of the transaction, the vice president now directly owns 74,674 shares in the company, valued at approximately $4,848,582.82. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,276 shares of company stock worth $3,835,809. Insiders own 1.05% of the company’s stock.

MPC has been the topic of several recent analyst reports. Barclays lifted their price objective on shares of Marathon Petroleum from $63.00 to $76.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 14th. Credit Suisse Group initiated coverage on shares of Marathon Petroleum in a research note on Wednesday, January 3rd. They set an “outperform” rating and a $83.00 price objective on the stock. Royal Bank of Canada reissued a “buy” rating and set a $89.00 price objective on shares of Marathon Petroleum in a research note on Tuesday, January 30th. UBS Group lowered shares of Marathon Petroleum from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $63.00 to $65.00 in a research note on Sunday, November 26th. Finally, Zacks Investment Research raised shares of Marathon Petroleum from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research note on Friday, November 10th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $75.25.

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Marathon Petroleum Profile

Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.

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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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