State of Alaska Department of Revenue Sells 17,600 Shares of Marathon Petroleum Co. (NYSE:MPC)

State of Alaska Department of Revenue lessened its stake in Marathon Petroleum Co. (NYSE:MPC) by 24.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 54,463 shares of the oil and gas company’s stock after selling 17,600 shares during the quarter. State of Alaska Department of Revenue’s holdings in Marathon Petroleum were worth $8,872,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC lifted its stake in Marathon Petroleum by 19,153.8% in the third quarter. International Assets Investment Management LLC now owns 1,311,182 shares of the oil and gas company’s stock valued at $213,605,000 after buying an additional 1,304,372 shares in the last quarter. Granite Bay Wealth Management LLC acquired a new position in shares of Marathon Petroleum in the second quarter valued at about $219,537,000. Capital Wealth Planning LLC grew its stake in shares of Marathon Petroleum by 10,902.9% in the first quarter. Capital Wealth Planning LLC now owns 1,110,630 shares of the oil and gas company’s stock valued at $223,792,000 after acquiring an additional 1,100,536 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Marathon Petroleum by 980.3% during the second quarter. Assenagon Asset Management S.A. now owns 684,718 shares of the oil and gas company’s stock worth $118,785,000 after purchasing an additional 621,336 shares during the period. Finally, Panagora Asset Management Inc. lifted its position in Marathon Petroleum by 64.1% during the second quarter. Panagora Asset Management Inc. now owns 619,049 shares of the oil and gas company’s stock worth $107,393,000 after purchasing an additional 241,746 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MPC. TD Cowen upped their price objective on Marathon Petroleum from $187.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Tudor Pickering cut Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a report on Monday, September 9th. JPMorgan Chase & Co. dropped their price objective on Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Morgan Stanley decreased their price objective on Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Finally, BMO Capital Markets reduced their target price on Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $187.00.

Marathon Petroleum Stock Down 0.3 %

Shares of MPC stock opened at $152.36 on Monday. Marathon Petroleum Co. has a fifty-two week low of $140.98 and a fifty-two 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. The firm has a market capitalization of $53.68 billion, a PE ratio of 7.61, a P/E/G ratio of 3.03 and a beta of 1.37. The stock’s 50-day simple moving average is $165.37 and its 200-day simple moving average is $173.25.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, beating the consensus estimate of $3.09 by $1.03. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The business had revenue of $38.36 billion for the quarter, compared to the consensus estimate of $36.66 billion. During the same quarter last year, the business posted $5.32 earnings per share. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. Equities analysts expect that Marathon Petroleum Co. will post 8.71 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were issued a $0.825 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $3.30 dividend on an annualized basis and a yield of 2.17%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 16.48%.

About Marathon Petroleum

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.