Marathon Petroleum Co. (NYSE:MPC) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D decreased its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 2.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 235,395 shares of the oil and gas company’s stock after selling 5,480 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Marathon Petroleum were worth $34,923,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Northern Trust Corp lifted its position in shares of Marathon Petroleum by 1.0% during the third quarter. Northern Trust Corp now owns 4,526,814 shares of the oil and gas company’s stock worth $685,088,000 after purchasing an additional 43,989 shares in the last quarter. Raymond James & Associates boosted its position in Marathon Petroleum by 2.4% in the 4th quarter. Raymond James & Associates now owns 4,102,057 shares of the oil and gas company’s stock valued at $608,581,000 after buying an additional 96,753 shares during the period. Principal Financial Group Inc. grew its stake in shares of Marathon Petroleum by 1.4% in the third quarter. Principal Financial Group Inc. now owns 2,746,614 shares of the oil and gas company’s stock worth $415,673,000 after acquiring an additional 36,987 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Marathon Petroleum by 8.3% during the fourth quarter. Pacer Advisors Inc. now owns 2,341,364 shares of the oil and gas company’s stock worth $347,365,000 after acquiring an additional 178,502 shares during the period. Finally, Raymond James Financial Services Advisors Inc. raised its stake in shares of Marathon Petroleum by 0.5% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 2,179,623 shares of the oil and gas company’s stock valued at $329,864,000 after acquiring an additional 11,622 shares in the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Performance

MPC traded down $1.20 during trading on Friday, hitting $198.31. 1,953,820 shares of the stock were exchanged, compared to its average volume of 2,756,303. The company has a quick ratio of 1.13, a current ratio of 1.59 and a debt-to-equity ratio of 0.83. Marathon Petroleum Co. has a 1-year low of $104.32 and a 1-year high of $221.11. The stock has a fifty day moving average price of $191.83 and a two-hundred day moving average price of $166.46. The firm has a market capitalization of $71.46 billion, a P/E ratio of 8.48, a PEG ratio of 1.62 and a beta of 1.52.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, January 30th. The oil and gas company reported $3.98 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $1.77. The business had revenue of $36.26 billion for the quarter, compared to analysts’ expectations of $34.90 billion. Marathon Petroleum had a net margin of 6.44% and a return on equity of 30.58%. The company’s quarterly revenue was down 8.9% on a year-over-year basis. During the same period in the previous year, the company posted $6.65 EPS. As a group, sell-side analysts predict that Marathon Petroleum Co. will post 20.49 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Thursday, May 16th will be paid a dividend of $0.825 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $3.30 annualized dividend and a dividend yield of 1.66%. Marathon Petroleum’s dividend payout ratio (DPR) is 14.02%.

Analysts Set New Price Targets

MPC has been the topic of several recent research reports. Piper Sandler upped their price target on Marathon Petroleum from $159.00 to $204.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Citigroup initiated coverage on shares of Marathon Petroleum in a research note on Wednesday, January 24th. They issued a “neutral” rating for the company. Wells Fargo & Company increased their price objective on shares of Marathon Petroleum from $214.00 to $227.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Mizuho lifted their price objective on shares of Marathon Petroleum from $201.00 to $202.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Finally, JPMorgan Chase & Co. increased their target price on Marathon Petroleum from $172.00 to $186.00 and gave the company a “neutral” rating in a report on Monday, April 1st. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $193.77.

Insider Buying and Selling

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $170.35, for a total transaction of $170,350.00. Following the completion of the sale, the director now directly owns 23,446 shares of the company’s stock, valued at approximately $3,994,026.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

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.