Marathon Petroleum Corporation (MPC) Stake Lessened by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio cut its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 4.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 237,048 shares of the oil and gas company’s stock after selling 11,400 shares during the period. Public Employees Retirement System of Ohio’s holdings in Marathon Petroleum were worth $13,294,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the company. Tortoise Capital Advisors L.L.C. raised its position in shares of Marathon Petroleum by 3.5% during the third quarter. Tortoise Capital Advisors L.L.C. now owns 44,950 shares of the oil and gas company’s stock worth $2,521,000 after purchasing an additional 1,524 shares during the period. Americafirst Capital Management LLC purchased a new position in shares of Marathon Petroleum during the third quarter valued at $332,000. Belpointe Asset Management LLC purchased a new position in shares of Marathon Petroleum during the third quarter valued at $517,000. FrontFour Capital Group LLC purchased a new position in shares of Marathon Petroleum during the third quarter valued at $552,000. Finally, First Heartland Consultants Inc. purchased a new position in shares of Marathon Petroleum during the third quarter valued at $205,000. 80.61% of the stock is currently owned by institutional investors.

Marathon Petroleum Corporation (MPC) opened at $66.01 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.52 and a quick ratio of 0.80. Marathon Petroleum Corporation has a 52 week low of $46.88 and a 52 week high of $66.38. The company has a market capitalization of $32,110.66, a PE ratio of 19.98, a price-to-earnings-growth ratio of 1.61 and a beta of 1.61.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Thursday, October 26th. The oil and gas company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.29. Marathon Petroleum had a return on equity of 8.52% and a net margin of 2.35%. The firm had revenue of $19.36 billion for the quarter, compared to the consensus estimate of $19.38 billion. During the same quarter in the previous year, the company posted $0.58 earnings per share. The business’s quarterly revenue was up 17.6% compared to the same quarter last year. equities research analysts forecast that Marathon Petroleum Corporation will post 3.83 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, December 11th. Shareholders of record on Thursday, November 16th were paid a $0.40 dividend. The ex-dividend date was Wednesday, November 15th. This represents a $1.60 dividend on an annualized basis and a yield of 2.42%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 49.08%.

In other Marathon Petroleum news, VP Raymond L. Brooks sold 13,000 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $62.26, for a total value of $809,380.00. Following the transaction, the vice president now owns 32,205 shares in the company, valued at $2,005,083.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Rodney P. Nichols sold 6,374 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $64.93, for a total value of $413,863.82. Following the completion of the transaction, the vice president now owns 74,674 shares in the company, valued at approximately $4,848,582.82. The disclosure for this sale can be found here. Insiders sold 149,854 shares of company stock worth $9,482,177 in the last 90 days. Corporate insiders own 1.05% of the company’s stock.

A number of research analysts have recently weighed in on MPC shares. Jefferies Group set a $65.00 price target on Marathon Petroleum and gave the company a “buy” rating in a report on Friday, August 25th. BidaskClub upgraded Marathon Petroleum from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Royal Bank of Canada reiterated a “buy” rating and set a $71.00 price target on shares of Marathon Petroleum in a report on Thursday, August 31st. Scotiabank reiterated a “hold” rating and set a $55.00 price target on shares of Marathon Petroleum in a report on Friday, September 1st. Finally, ValuEngine upgraded Marathon Petroleum from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Marathon Petroleum presently has a consensus rating of “Buy” and a consensus target price of $66.25.

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Marathon Petroleum Profile

Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.

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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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