Retirement Systems of Alabama Trims Stock Holdings in Marathon Petroleum Corporation $MPC

Retirement Systems of Alabama reduced its stake in Marathon Petroleum Corporation (NYSE:MPC) by 2.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 65,921 shares of the oil and gas company’s stock after selling 1,985 shares during the period. Retirement Systems of Alabama’s holdings in Marathon Petroleum were worth $10,950,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MPC. Silver Oak Securities Incorporated purchased a new stake in shares of Marathon Petroleum during the first quarter worth approximately $339,000. Jump Financial LLC increased its stake in shares of Marathon Petroleum by 128.0% during the first quarter. Jump Financial LLC now owns 8,663 shares of the oil and gas company’s stock worth $1,262,000 after buying an additional 4,863 shares during the period. Weatherly Asset Management L. P. purchased a new stake in shares of Marathon Petroleum during the first quarter worth approximately $216,000. Journey Strategic Wealth LLC increased its stake in shares of Marathon Petroleum by 105.0% during the first quarter. Journey Strategic Wealth LLC now owns 8,582 shares of the oil and gas company’s stock worth $1,250,000 after buying an additional 4,396 shares during the period. Finally, FSM Wealth Advisors LLC purchased a new stake in shares of Marathon Petroleum during the second quarter worth approximately $685,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling 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 directly owned 28,700 shares of the company’s stock, valued at approximately $4,678,100. This represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.25% of the company’s stock.

Marathon Petroleum Price Performance

MPC stock opened at $195.01 on Monday. The company has a market capitalization of $59.29 billion, a P/E ratio of 28.93, a PEG ratio of 4.08 and a beta of 0.90. Marathon Petroleum Corporation has a twelve month low of $115.10 and a twelve month high of $201.61. The business has a 50 day simple moving average of $186.45 and a 200-day simple moving average of $170.28. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data 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. The business had revenue of $34.10 billion during the quarter, compared to the consensus estimate of $31.70 billion. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The company’s revenue was down 11.1% compared to the same quarter last year. During the same period in the prior year, the company earned $4.12 earnings per share. As a group, equities analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 19th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, November 19th. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.91. This represents a $4.00 annualized dividend and a dividend yield of 2.1%. Marathon Petroleum’s dividend payout ratio is currently 54.01%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MPC. Scotiabank restated an “outperform” rating on shares of Marathon Petroleum in a research note on Thursday, October 9th. Evercore ISI upped their price target on Marathon Petroleum from $170.00 to $210.00 and gave the company an “in-line” rating in a report on Friday, September 19th. Dbs Bank raised Marathon Petroleum to a “moderate buy” rating in a report on Monday, July 28th. Barclays upped their price target on Marathon Petroleum from $176.00 to $194.00 and gave the company an “overweight” rating in a report on Monday, October 13th. Finally, BMO Capital Markets upped their price target on Marathon Petroleum from $195.00 to $208.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $200.31.

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.