Public Employees Retirement System of Ohio Sells 31,359 Shares of Marathon Petroleum Corporation $MPC

Public Employees Retirement System of Ohio cut its position in Marathon Petroleum Corporation (NYSE:MPC) by 20.3% in the 2nd quarter, Holdings Channel.com reports. The firm owned 123,253 shares of the oil and gas company’s stock after selling 31,359 shares during the period. Public Employees Retirement System of Ohio’s holdings in Marathon Petroleum were worth $20,474,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Marathon Petroleum by 12.3% during the 1st quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company’s stock worth $5,090,611,000 after buying an additional 3,834,501 shares during the period. Wellington Management Group LLP raised its stake in shares of Marathon Petroleum by 18.7% during the first quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company’s stock valued at $1,722,664,000 after acquiring an additional 1,862,674 shares during the last quarter. Raymond James Financial Inc. lifted its holdings in shares of Marathon Petroleum by 6.3% during the first quarter. Raymond James Financial Inc. now owns 6,037,532 shares of the oil and gas company’s stock worth $879,608,000 after purchasing an additional 355,215 shares during the period. Boston Partners grew its stake in shares of Marathon Petroleum by 58.5% in the first quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company’s stock worth $791,274,000 after purchasing an additional 2,011,810 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Marathon Petroleum by 3.7% in the first quarter. Bank of New York Mellon Corp now owns 4,982,348 shares of the oil and gas company’s stock valued at $725,878,000 after purchasing an additional 178,397 shares during the period. 76.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Wolfe Research downgraded Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a report on Monday, July 14th. Piper Sandler lifted their price objective on Marathon Petroleum from $184.00 to $222.00 and gave the stock a “neutral” rating in a research note on Thursday, September 11th. Scotiabank reissued an “outperform” rating on shares of Marathon Petroleum in a research report on Friday, July 11th. Citigroup raised their price target on shares of Marathon Petroleum from $144.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. Finally, Evercore ISI upped their price objective on shares of Marathon Petroleum from $170.00 to $210.00 and gave the company an “in-line” rating in a research note on Friday, September 19th. Eight research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.50.

Insider Buying and Selling

In other news, Director Kim K.W. Rucker sold 7,392 shares of the business’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 transaction of $1,293,600.00. Following the completion of the sale, the director owned 18,944 shares in the company, valued at $3,315,200. The trade was a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Molly R. Benson sold 10,879 shares of the company’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $163.00, for a total value of $1,773,277.00. Following the transaction, the insider directly owned 28,700 shares in the company, valued at $4,678,100. The trade was a 27.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Marathon Petroleum Stock Up 1.8%

Marathon Petroleum stock opened at $196.54 on Friday. The company has a market capitalization of $59.75 billion, a PE ratio of 29.16, a PEG ratio of 3.35 and a beta of 0.97. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $196.70. The firm’s fifty day moving average is $174.60 and its 200 day moving average is $159.93. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share for the quarter, beating the consensus estimate of $3.22 by $0.74. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The firm had revenue of $34.10 billion during the quarter, compared to the consensus estimate of $31.70 billion. During the same period in the previous year, the firm posted $4.12 earnings per share. The business’s revenue was down 11.1% compared to the same quarter last year. As a group, sell-side analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were issued a $0.91 dividend. The ex-dividend date was Wednesday, August 20th. This represents a $3.64 annualized dividend and a yield of 1.9%. Marathon Petroleum’s dividend payout ratio is presently 54.01%.

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.