Marathon Petroleum Corporation $MPC Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its position in Marathon Petroleum Corporation (NYSE:MPC) by 4.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 49,571 shares of the oil and gas company’s stock after selling 2,460 shares during the period. State of Alaska Department of Revenue’s holdings in Marathon Petroleum were worth $8,233,000 at the end of the most recent quarter.

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

Marathon Petroleum Stock Performance

NYSE:MPC opened at $198.85 on Friday. The firm has a market cap of $60.45 billion, a price-to-earnings ratio of 29.50, a price-to-earnings-growth ratio of 3.44 and a beta of 0.97. Marathon Petroleum Corporation has a twelve month low of $115.10 and a twelve month high of $201.61. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. The company has a 50-day moving average of $175.09 and a 200-day moving average of $160.53.

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

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th were issued a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Wednesday, August 20th. Marathon Petroleum’s payout ratio is presently 54.01%.

Insider Transactions at Marathon Petroleum

In other news, insider Molly R. Benson sold 10,879 shares of the 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 completion of the sale, the insider owned 28,700 shares of the company’s stock, valued at approximately $4,678,100. This represents a 27.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kim K.W. Rucker sold 7,392 shares of the stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total value of $1,293,600.00. Following the transaction, the director owned 18,944 shares in the company, valued at approximately $3,315,200. This trade represents a 28.07% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MPC. Citigroup boosted their target price on shares of Marathon Petroleum from $144.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, July 16th. Barclays increased their target price on shares of Marathon Petroleum from $159.00 to $189.00 and gave the stock an “overweight” rating in a research report on Friday, July 11th. Raymond James Financial boosted their price objective on Marathon Petroleum from $195.00 to $199.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 9th. UBS Group boosted their price objective on shares of Marathon Petroleum from $203.00 to $220.00 and gave the stock a “buy” rating in a report on Friday. Finally, BMO Capital Markets lifted their price target on shares of Marathon Petroleum from $195.00 to $208.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Eight equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $195.00.

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.