Maryland State Retirement & Pension System Sells 143,435 Shares of Marathon Petroleum Corporation $MPC

Maryland State Retirement & Pension System lessened its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 88.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 18,016 shares of the oil and gas company’s stock after selling 143,435 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Marathon Petroleum were worth $7,124,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Solstein Capital LLC bought a new stake in shares of Marathon Petroleum during the 2nd quarter worth approximately $26,000. Caitlin John LLC purchased a new position in Marathon Petroleum during the 2nd quarter valued at $26,000. Bell Investment Advisors Inc bought a new position in Marathon Petroleum in the 2nd quarter valued at $27,000. Main Street Group LTD bought a new position in Marathon Petroleum in the 1st quarter valued at $35,000. Finally, Cetera Trust Company N.A purchased a new stake in Marathon Petroleum in the second quarter worth $35,000. Institutional investors own 76.77% of the company’s stock.

Insider Transactions at Marathon Petroleum

In other news, insider Molly Benson sold 17,196 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $358.57, for a total transaction of $6,165,969.72. Following the transaction, the insider owned 30,334 shares in the company, valued at approximately $10,876,862.38. This trade represents a 36.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Shawn Lyon sold 1,000 shares of the firm’s stock in a transaction 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 transaction, the senior vice president owned 11,194 shares in the company, valued at approximately $4,206,145.50. This represents a 8.20% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 19,191 shares of company stock valued at $6,905,127. 0.17% of the stock is currently owned by corporate insiders.

Marathon Petroleum Stock Up 2.4%

Shares of NYSE MPC opened at $412.62 on Friday. Marathon Petroleum Corporation has a 52-week low of $161.93 and a 52-week high of $493.98. The firm has a market capitalization of $112.35 billion, a price-to-earnings ratio of 8.00, a PEG ratio of 0.10 and a beta of 0.53. The stock has a 50 day moving average price of $423.34 and a 200 day moving average price of $299.82. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.09 and a current ratio of 1.45.

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

Marathon Petroleum Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. UBS Group set a $510.00 target price on Marathon Petroleum in a research report on Friday, October 9th. Wells Fargo & Company boosted their target price on shares of Marathon Petroleum from $560.00 to $564.00 and gave the company an “overweight” rating in a research note on Wednesday, November 4th. Raymond James Financial upped their price target on shares of Marathon Petroleum from $350.00 to $445.00 and gave the stock an “outperform” rating in a report on Monday, September 14th. Evercore set a $330.00 price target on shares of Marathon Petroleum in a research note on Wednesday, August 5th. Finally, Bank of America lifted their price objective on shares of Marathon Petroleum from $410.00 to $426.00 and gave the company a “neutral” rating in a report on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $425.12.

Trending Headlines about Marathon Petroleum

Investors following MPC have been watching these headlines:

• Positive Sentiment: MPC reported strong Q3 earnings, with adjusted EPS of $26.93, aided by robust refining margins and full crude capacity utilization. The company returned $3.3 billion to shareholders, authorized another $5 billion in share repurchases and raised its quarterly dividend by 10%. Article: Marathon Petroleum Rises as Investors Continue to Digest Strong Q3 Results and Asset Sale
• Positive Sentiment: The company agreed to sell its St. Paul Park and Mandan refineries and related assets for a reported $4.2 billion, with proceeds expected to support investment, primarily along the Gulf Coast. Article: Marathon Petroleum Rises as Investors Continue to Digest Strong Q3 Results and Asset Sale
• Negative Sentiment: Recent insider transactions cited in the coverage were all sales, with no purchases over the past six months. This may weigh on sentiment, though insider selling alone does not establish a negative outlook. Article: Marathon Petroleum Rises as Investors Continue to Digest Strong Q3 Results and Asset Sale

Marathon Petroleum Company 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.