Public Employees Retirement System of Ohio Reduces Position in Marathon Petroleum Corporation (MPC)

Public Employees Retirement System of Ohio lessened its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 4.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 248,448 shares of the oil and gas company’s stock after selling 10,577 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Marathon Petroleum Corporation were worth $13,001,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. OMERS ADMINISTRATION Corp raised its position in Marathon Petroleum Corporation by 341.7% during the 2nd quarter. OMERS ADMINISTRATION Corp now owns 53,000 shares of the oil and gas company’s stock worth $2,773,000 after buying an additional 41,000 shares during the last quarter. Wilen Investment Management CORP. raised its position in Marathon Petroleum Corporation by 31.3% during the 2nd quarter. Wilen Investment Management CORP. now owns 38,148 shares of the oil and gas company’s stock worth $1,984,000 after buying an additional 9,100 shares during the last quarter. Commonwealth Bank of Australia raised its position in Marathon Petroleum Corporation by 1.8% during the 2nd quarter. Commonwealth Bank of Australia now owns 174,826 shares of the oil and gas company’s stock worth $9,147,000 after buying an additional 3,097 shares during the last quarter. Fox Run Management L.L.C. raised its position in Marathon Petroleum Corporation by 143.6% during the 2nd quarter. Fox Run Management L.L.C. now owns 26,800 shares of the oil and gas company’s stock worth $1,402,000 after buying an additional 15,800 shares during the last quarter. Finally, Heritage Way Advisors LLC raised its position in Marathon Petroleum Corporation by 2.4% during the 2nd quarter. Heritage Way Advisors LLC now owns 36,975 shares of the oil and gas company’s stock worth $1,935,000 after buying an additional 850 shares during the last quarter. Institutional investors and hedge funds own 78.24% of the company’s stock.

A number of equities analysts have commented on the stock. Citigroup Inc. upped their price objective on shares of Marathon Petroleum Corporation from $67.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Cowen and Company reaffirmed a “buy” rating and set a $60.00 price target on shares of Marathon Petroleum Corporation in a research note on Tuesday, October 17th. Zacks Investment Research cut shares of Marathon Petroleum Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Barclays PLC reaffirmed an “overweight” rating and set a $63.00 price target (up from $62.00) on shares of Marathon Petroleum Corporation in a research note on Tuesday, October 10th. Finally, Edward Jones raised shares of Marathon Petroleum Corporation from a “hold” rating to a “buy” rating in a research note on Friday, October 6th. Seven research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $60.63.

Shares of Marathon Petroleum Corporation (MPC) traded up 2.30% during mid-day trading on Friday, reaching $58.59. 1,287,870 shares of the company’s stock traded hands. Marathon Petroleum Corporation has a 1-year low of $40.01 and a 1-year high of $58.93. The company has a market capitalization of $29.66 billion, a P/E ratio of 34.94 and a beta of 1.56. The firm has a 50-day moving average price of $55.25 and a 200-day moving average price of $53.23.

Marathon Petroleum Corporation (NYSE:MPC) last posted its quarterly earnings data on Thursday, October 26th. The oil and gas company reported $1.77 EPS for the quarter, topping the Zacks’ consensus estimate of $1.48 by $0.29. Marathon Petroleum Corporation had a return on equity of 5.52% and a net margin of 1.34%. The firm had revenue of $19.36 billion for the quarter, compared to analyst estimates of $19.38 billion. During the same quarter last year, the company earned $0.58 EPS. The company’s revenue was up 17.6% on a year-over-year basis. On average, equities research analysts forecast that Marathon Petroleum Corporation will post $3.28 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Thursday, November 16th will be paid a $0.40 dividend. The ex-dividend date is Wednesday, November 15th. This represents a $1.60 annualized dividend and a dividend yield of 2.79%. Marathon Petroleum Corporation’s payout ratio is 90.91%.

In other news, VP C. Michael Palmer sold 11,450 shares of Marathon Petroleum Corporation stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $53.02, for a total value of $607,079.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.05% of the company’s stock.

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Marathon Petroleum Corporation Company 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.

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

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