State Board of Administration of Florida Retirement System lowered its stake in shares of Marathon Petroleum Corp (NYSE:MPC) by 2.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 959,455 shares of the oil and gas company’s stock after selling 23,308 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Marathon Petroleum were worth $57,423,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of the company. Legal & General Group Plc raised its holdings in shares of Marathon Petroleum by 4.5% in the 3rd quarter. Legal & General Group Plc now owns 2,513,759 shares of the oil and gas company’s stock worth $201,126,000 after buying an additional 108,292 shares in the last quarter. Morgan Stanley increased its holdings in Marathon Petroleum by 16.2% during the 3rd quarter. Morgan Stanley now owns 6,740,004 shares of the oil and gas company’s stock valued at $538,997,000 after purchasing an additional 941,397 shares in the last quarter. Marshall Wace LLP acquired a new stake in Marathon Petroleum during the 3rd quarter valued at $1,255,000. Federated Investors Inc. PA increased its holdings in Marathon Petroleum by 193.2% during the 3rd quarter. Federated Investors Inc. PA now owns 873,912 shares of the oil and gas company’s stock valued at $69,887,000 after purchasing an additional 575,811 shares in the last quarter. Finally, Vanguard Group Inc increased its holdings in Marathon Petroleum by 0.7% during the 3rd quarter. Vanguard Group Inc now owns 35,373,004 shares of the oil and gas company’s stock valued at $2,828,779,000 after purchasing an additional 255,599 shares in the last quarter. Institutional investors own 79.30% of the company’s stock.
MPC has been the subject of a number of recent analyst reports. Wells Fargo & Co dropped their price target on Marathon Petroleum from $96.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday. Morgan Stanley dropped their price target on Marathon Petroleum from $85.00 to $82.00 and set an “overweight” rating for the company in a report on Monday, April 15th. Raymond James dropped their price target on Marathon Petroleum from $85.00 to $80.00 and set a “strong-buy” rating for the company in a report on Thursday. ValuEngine cut Marathon Petroleum from a “hold” rating to a “sell” rating in a report on Tuesday, March 5th. Finally, Cowen reaffirmed an “outperform” rating and set a $90.00 price target (down from $101.00) on shares of Marathon Petroleum in a report on Monday, May 6th. One analyst has rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. Marathon Petroleum has an average rating of “Buy” and a consensus target price of $86.83.
Shares of MPC opened at $53.15 on Friday. The firm has a market capitalization of $35.67 billion, a price-to-earnings ratio of 7.84, a PEG ratio of 1.25 and a beta of 1.35. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.62 and a current ratio of 1.36. Marathon Petroleum Corp has a 52 week low of $52.03 and a 52 week high of $88.45.
Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Wednesday, May 8th. The oil and gas company reported ($0.09) EPS for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.10). The firm had revenue of $28.62 billion during the quarter, compared to the consensus estimate of $27.70 billion. Marathon Petroleum had a net margin of 2.56% and a return on equity of 12.69%. The firm’s quarterly revenue was up 50.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.08 earnings per share. Analysts forecast that Marathon Petroleum Corp will post 5.26 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 16th will be given a $0.53 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $2.12 dividend on an annualized basis and a yield of 3.99%. Marathon Petroleum’s payout ratio is 31.27%.
In other Marathon Petroleum news, CEO Gary R. Heminger sold 187,142 shares of the stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $65.00, for a total value of $12,164,230.00. Following the transaction, the chief executive officer now directly owns 434,166 shares in the company, valued at approximately $28,220,790. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.06% of the stock is currently owned by company insiders.
Marathon Petroleum Company Profile
Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Retail, and Midstream. The Refining & Marketing segment refines crude oil and other feed stocks at its 16 refineries in the West Coast, Gulf Coast, and Mid-Continent regions of the United States; and purchases refined products and ethanol for resale.
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