Maryland State Retirement & Pension System Sells 2,285 Shares of Marathon Petroleum Co. (NYSE:MPC)

Maryland State Retirement & Pension System lessened its stake in Marathon Petroleum Co. (NYSE:MPC) by 11.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,868 shares of the oil and gas company’s stock after selling 2,285 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Marathon Petroleum were worth $2,493,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. True Wealth Design LLC raised its holdings in shares of Marathon Petroleum by 672.7% in the 3rd quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 148 shares during the period. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Marathon Petroleum in the 4th quarter worth approximately $27,000. Darwin Wealth Management LLC bought a new stake in Marathon Petroleum during the 3rd quarter valued at $33,000. Asset Planning Inc bought a new stake in Marathon Petroleum during the 4th quarter valued at $28,000. Finally, Sierra Ocean LLC bought a new stake in Marathon Petroleum during the 4th quarter valued at $31,000. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Up 1.6 %

Shares of NYSE:MPC opened at $151.93 on Friday. Marathon Petroleum Co. has a 52-week low of $130.54 and a 52-week high of $221.11. The firm has a fifty day moving average of $148.90 and a 200 day moving average of $152.51. The firm has a market capitalization of $47.33 billion, a PE ratio of 15.30, a price-to-earnings-growth ratio of 3.11 and a beta of 1.39. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.71. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The company had revenue of $33.47 billion during the quarter, compared to analyst estimates of $31.94 billion. During the same period in the previous year, the business earned $3.98 earnings per share. The firm’s quarterly revenue was down 9.1% compared to the same quarter last year. As a group, research analysts anticipate that Marathon Petroleum Co. will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Wednesday, February 19th were given a $0.91 dividend. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $3.64 annualized dividend and a yield of 2.40%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 36.66%.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, insider Ricky D. Hessling purchased 2,000 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was acquired at an average cost of $134.72 per share, for a total transaction of $269,440.00. Following the completion of the transaction, the insider now directly owns 12,162 shares in the company, valued at approximately $1,638,464.64. This represents a 19.68 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Evan Bayh purchased 1,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were acquired at an average price of $133.70 per share, with a total value of $133,700.00. Following the completion of the transaction, the director now owns 69,305 shares of the company’s stock, valued at approximately $9,266,078.50. This trade represents a 1.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MPC shares. Raymond James boosted their target price on shares of Marathon Petroleum from $190.00 to $192.00 and gave the company a “strong-buy” rating in a report on Friday, January 17th. Wells Fargo & Company boosted their target price on shares of Marathon Petroleum from $182.00 to $183.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Barclays boosted their target price on shares of Marathon Petroleum from $159.00 to $161.00 and gave the company an “overweight” rating in a report on Friday, March 14th. TD Cowen reissued a “buy” rating and set a $170.00 target price on shares of Marathon Petroleum in a report on Tuesday, December 10th. Finally, Piper Sandler reduced their price target on shares of Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $182.13.

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.