Arizona State Retirement System Trims Holdings in Marathon Petroleum Co. (NYSE:MPC)

Arizona State Retirement System trimmed its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 4.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 104,464 shares of the oil and gas company’s stock after selling 4,497 shares during the quarter. Arizona State Retirement System’s holdings in Marathon Petroleum were worth $18,122,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. FinTrust Capital Advisors LLC increased its position in shares of Marathon Petroleum by 400.0% during the first quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 100 shares during the period. Crewe Advisors LLC bought a new stake in Marathon Petroleum during the 1st quarter worth approximately $29,000. ICA Group Wealth Management LLC purchased a new stake in Marathon Petroleum in the 4th quarter worth approximately $30,000. Vima LLC bought a new position in Marathon Petroleum in the 4th quarter valued at $30,000. Finally, Manchester Capital Management LLC grew its position in shares of Marathon Petroleum by 97.2% during the 4th quarter. Manchester Capital Management LLC now owns 215 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 106 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their price objective on Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 2nd. Mizuho lowered their price target on Marathon Petroleum from $203.00 to $201.00 and set a “neutral” rating on the stock in a report on Thursday, June 20th. Jefferies Financial Group lifted their price target on Marathon Petroleum from $222.00 to $231.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Piper Sandler decreased their price objective on shares of Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating on the stock in a research report on Friday, June 14th. Finally, Raymond James lowered their target price on shares of Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating on the stock in a research note on Thursday, May 30th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $198.38.

Marathon Petroleum Price Performance

MPC stock opened at $166.00 on Friday. The firm has a market cap of $58.49 billion, a P/E ratio of 8.29, a P/E/G ratio of 2.33 and a beta of 1.40. The firm’s fifty day moving average is $171.21 and its 200 day moving average is $180.21. Marathon Petroleum Co. has a 52 week low of $139.32 and a 52 week high of $221.11. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 1.31.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $1.03. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The firm had revenue of $38.36 billion for the quarter, compared to analysts’ expectations of $36.66 billion. During the same period last year, the firm earned $5.32 earnings per share. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. Research analysts predict that Marathon Petroleum Co. will post 12.68 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be paid a $0.825 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $3.30 dividend on an annualized basis and a yield of 1.99%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 16.48%.

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.