Marathon Petroleum Corporation $MPC Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lowered its position in Marathon Petroleum Corporation (NYSE:MPC) by 4.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,891 shares of the oil and gas company’s stock after selling 2,438 shares during the period. Retirement Systems of Alabama’s holdings in Marathon Petroleum were worth $23,287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Marathon Petroleum during the 2nd quarter worth approximately $6,648,958,000. Bank of New York Mellon Corp bought a new position in Marathon Petroleum in the 2nd quarter valued at $1,029,611,000. Bank of America Corp DE increased its stake in Marathon Petroleum by 1.6% in the first quarter. Bank of America Corp DE now owns 2,595,084 shares of the oil and gas company’s stock worth $633,668,000 after purchasing an additional 40,124 shares during the period. Amundi increased its stake in Marathon Petroleum by 17.5% in the second quarter. Amundi now owns 2,237,930 shares of the oil and gas company’s stock worth $572,172,000 after purchasing an additional 332,551 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Marathon Petroleum by 16.7% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,508,489 shares of the oil and gas company’s stock worth $385,675,000 after purchasing an additional 215,686 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Piper Sandler upped their price target on shares of Marathon Petroleum from $462.00 to $466.00 and gave the stock an “overweight” rating in a report on Thursday, November 5th. Jefferies Financial Group reissued a “hold” rating and issued a $433.00 price objective on shares of Marathon Petroleum in a research report on Sunday, October 11th. The Goldman Sachs Group upped their target price on shares of Marathon Petroleum from $376.00 to $472.00 and gave the stock a “buy” rating in a research note on Monday, September 21st. Wells Fargo & Company raised their target price on shares of Marathon Petroleum from $560.00 to $564.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 4th. Finally, Mizuho lifted their price target on shares of Marathon Petroleum from $304.00 to $457.00 and gave the company a “neutral” rating in a research note on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $425.12.

Marathon Petroleum Stock Performance

Shares of Marathon Petroleum stock opened at $402.73 on Thursday. The company has a market capitalization of $109.65 billion, a PE ratio of 13.84, a P/E/G ratio of 0.10 and a beta of 0.53. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.09 and a current ratio of 1.45. The company has a 50-day simple moving average of $422.83 and a two-hundred day simple moving average of $298.62. Marathon Petroleum Corporation has a one year low of $161.93 and a one year high of $493.98.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, November 3rd. The oil and gas company reported $26.93 EPS for the quarter, beating the consensus estimate of $25.37 by $1.56. Marathon Petroleum had a net margin of 8.27% and a return on equity of 55.82%. The business had revenue of $56.03 billion during the quarter, compared to analyst estimates of $46.60 billion. During the same period in the prior year, the firm posted $3.01 earnings per share. The company’s quarterly revenue was up 57.6% on a year-over-year basis. Research analysts expect that Marathon Petroleum Corporation will post 66.31 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 18th will be paid a dividend of $1.00 per share. The ex-dividend date is Wednesday, November 18th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.0%. Marathon Petroleum’s payout ratio is presently 13.75%.

Insider Activity

In related news, SVP Shawn M. Lyon sold 1,000 shares of Marathon Petroleum stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $375.75, for a total value of $375,750.00. Following the completion of the sale, the senior vice president directly owned 11,194 shares in the company, valued at $4,206,145.50. This trade represents a 8.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Molly R. Benson sold 17,196 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $358.57, for a total transaction of $6,165,969.72. Following the sale, the insider directly owned 30,334 shares in the company, valued at $10,876,862.38. This trade represents a 36.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 19,191 shares of company stock worth $6,905,127 over the last 90 days. 0.17% of the stock is currently owned by corporate insiders.

Marathon Petroleum Profile

Marathon Petroleum Corporation is an integrated downstream energy company focused on refining, marketing, and transporting petroleum products. Its refineries produce fuels and other products, including gasoline, diesel, jet fuel, asphalt, and petrochemical feedstocks. The company sells transportation fuels and related products through a network of branded locations and other wholesale and commercial channels, primarily in the United States. Its midstream operations, conducted largely through its affiliated partnership MPLX, include gathering, processing, and transporting natural gas and natural gas liquids, as well as storing and transporting crude oil and refined products.