Public Employees Retirement System of Ohio Sells 38,265 Shares of Marathon Petroleum Co. (NYSE:MPC)

Public Employees Retirement System of Ohio trimmed its stake in Marathon Petroleum Co. (NYSE:MPC) by 17.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 180,547 shares of the oil and gas company’s stock after selling 38,265 shares during the period. Public Employees Retirement System of Ohio owned 0.06% of Marathon Petroleum worth $25,186,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Janney Montgomery Scott LLC lifted its position in shares of Marathon Petroleum by 0.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 145,849 shares of the oil and gas company’s stock valued at $20,346,000 after buying an additional 676 shares during the last quarter. Wesbanco Bank Inc. raised its stake in shares of Marathon Petroleum by 0.5% during the 4th quarter. Wesbanco Bank Inc. now owns 21,223 shares of the oil and gas company’s stock worth $2,961,000 after acquiring an additional 101 shares in the last quarter. Mutual Advisors LLC lifted its position in Marathon Petroleum by 70.8% during the fourth quarter. Mutual Advisors LLC now owns 9,777 shares of the oil and gas company’s stock valued at $1,483,000 after acquiring an additional 4,054 shares during the last quarter. Avior Wealth Management LLC boosted its stake in Marathon Petroleum by 3.4% in the fourth quarter. Avior Wealth Management LLC now owns 2,171 shares of the oil and gas company’s stock valued at $303,000 after acquiring an additional 71 shares in the last quarter. Finally, Secure Asset Management LLC purchased a new position in Marathon Petroleum in the fourth quarter worth $335,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Marathon Petroleum

In other news, insider Ricky D. Hessling bought 2,000 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was purchased at an average cost of $134.72 per share, with a total value of $269,440.00. Following the acquisition, the insider now directly owns 12,162 shares in the company, valued at $1,638,464.64. This trade represents a 19.68% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Evan Bayh purchased 1,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were purchased at an average cost of $133.70 per share, for a total transaction of $133,700.00. Following the completion of the acquisition, the director now directly owns 69,305 shares of the company’s stock, valued at $9,266,078.50. This represents a 1.46% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.25% of the company’s stock.

Marathon Petroleum Stock Performance

MPC opened at $159.18 on Friday. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. Marathon Petroleum Co. has a 12-month low of $115.10 and a 12-month high of $183.31. The firm has a 50 day moving average of $141.58 and a two-hundred day moving average of $146.05. The firm has a market capitalization of $48.90 billion, a PE ratio of 16.03, a P/E/G ratio of 3.11 and a beta of 0.87.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.16. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The firm had revenue of $31.85 billion for the quarter, compared to analyst estimates of $28.91 billion. During the same quarter in the prior year, the business earned $2.58 earnings per share. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, analysts anticipate that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be issued a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $3.64 annualized dividend and a dividend yield of 2.29%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 51.20%.

Analyst Ratings Changes

MPC has been the subject of several analyst reports. Piper Sandler decreased their price objective on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Raymond James decreased their price target on Marathon Petroleum from $193.00 to $183.00 and set a “strong-buy” rating for the company in a research note on Wednesday, April 9th. Mizuho raised their price target on Marathon Petroleum from $168.00 to $184.00 and gave the stock a “neutral” rating in a report on Tuesday, May 13th. Barclays upped their price objective on shares of Marathon Petroleum from $141.00 to $159.00 and gave the company an “overweight” rating in a report on Monday, May 12th. Finally, Tudor Pickering raised shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $175.29.

About Marathon Petroleum

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.