New York State Teachers Retirement System Sells 17,201 Shares of Marathon Petroleum Corporation $MPC

New York State Teachers Retirement System trimmed its stake in Marathon Petroleum Corporation (NYSE:MPC) by 6.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 255,023 shares of the oil and gas company’s stock after selling 17,201 shares during the period. New York State Teachers Retirement System owned about 0.08% of Marathon Petroleum worth $42,362,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Marathon Petroleum by 12.3% during the first 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 during the last quarter. Wellington Management Group LLP grew its holdings in shares of Marathon Petroleum by 18.7% during the first quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company’s stock worth $1,722,664,000 after purchasing an additional 1,862,674 shares during the last quarter. Raymond James Financial Inc. grew its holdings in shares of Marathon Petroleum by 6.3% during the first quarter. Raymond James Financial Inc. now owns 6,037,532 shares of the oil and gas company’s stock worth $879,608,000 after purchasing an additional 355,215 shares during the last quarter. Boston Partners grew its holdings in shares of Marathon Petroleum by 58.5% during the first quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company’s stock worth $791,274,000 after purchasing an additional 2,011,810 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of 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 during the last quarter. Institutional investors own 76.77% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Scotiabank restated an “outperform” rating on shares of Marathon Petroleum in a report on Thursday, October 9th. Raymond James Financial upped their price target on Marathon Petroleum from $195.00 to $199.00 and gave the company an “outperform” rating in a research note on Tuesday, September 9th. Wolfe Research lowered Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 14th. Mizuho upped their price target on Marathon Petroleum from $184.00 to $188.00 and gave the company a “neutral” rating in a research note on Monday, September 15th. Finally, Bank of America upped their price target on Marathon Petroleum from $184.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, September 3rd. Eight investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $199.31.

Marathon Petroleum Trading Down 1.4%

NYSE:MPC opened at $181.19 on Friday. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $201.61. The business’s 50-day moving average price is $180.15 and its two-hundred day moving average price is $164.50. 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 firm has a market capitalization of $55.09 billion, a price-to-earnings ratio of 26.88, a PEG ratio of 2.90 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC) last released its earnings results 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 firm had revenue of $34.10 billion for the quarter, compared to analyst estimates of $31.70 billion. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The company’s quarterly revenue was down 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.12 earnings per share. On average, equities analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th were given a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.0%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 54.01%.

Insider Activity at Marathon Petroleum

In other news, insider Molly R. Benson sold 10,879 shares of the firm’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the sale, the insider owned 28,700 shares of the company’s stock, valued at $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.21% of the stock is currently owned by corporate insiders.

Marathon Petroleum 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.