California State Teachers Retirement System cut its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 6.7% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 928,403 shares of the oil and gas company’s stock after selling 66,206 shares during the period. California State Teachers Retirement System owned approximately 0.19% of Marathon Petroleum worth $52,065,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Blue Chip Partners Inc. acquired a new position in shares of Marathon Petroleum in the 2nd quarter valued at approximately $100,000. First Interstate Bank raised its position in shares of Marathon Petroleum by 81.1% in the 2nd quarter. First Interstate Bank now owns 2,376 shares of the oil and gas company’s stock valued at $124,000 after purchasing an additional 1,064 shares in the last quarter. Crow Point Partners LLC acquired a new position in shares of Marathon Petroleum in the 3rd quarter valued at approximately $128,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Marathon Petroleum in the 3rd quarter valued at approximately $135,000. Finally, ClariVest Asset Management LLC acquired a new position in shares of Marathon Petroleum in the 2nd quarter valued at approximately $143,000. 80.83% of the stock is currently owned by hedge funds and other institutional investors.
MPC has been the topic of several research reports. Zacks Investment Research raised Marathon Petroleum from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a research report on Monday, October 16th. Edward Jones raised Marathon Petroleum from a “hold” rating to a “buy” rating in a research report on Friday, October 6th. Jefferies Group reissued a “buy” rating and set a $64.00 price target (down from $65.00) on shares of Marathon Petroleum in a research report on Wednesday, September 6th. ValuEngine raised Marathon Petroleum from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Royal Bank of Canada reissued a “buy” rating and set a $71.00 price target on shares of Marathon Petroleum in a research report on Thursday, August 31st. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Marathon Petroleum presently has an average rating of “Buy” and an average target price of $66.25.
Shares of Marathon Petroleum Corporation (MPC) traded up $0.51 on Friday, reaching $64.66. The company had a trading volume of 4,319,000 shares, compared to its average volume of 4,335,051. The company has a market cap of $31,331.64, a P/E ratio of 19.50, a P/E/G ratio of 1.57 and a beta of 1.61. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.80 and a current ratio of 1.52. Marathon Petroleum Corporation has a 52-week low of $46.88 and a 52-week high of $65.41.
Marathon Petroleum (NYSE:MPC) last issued 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. The firm had revenue of $19.36 billion during the quarter, compared to the consensus estimate of $19.38 billion. Marathon Petroleum had a return on equity of 8.52% and a net margin of 2.35%. The firm’s revenue was up 17.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.58 EPS. equities analysts predict that Marathon Petroleum Corporation will post 3.83 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 11th. Investors of record on Thursday, November 16th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, November 15th. This represents a $1.60 dividend on an annualized basis and a yield of 2.47%. Marathon Petroleum’s payout ratio is currently 49.08%.
In related news, VP C. Michael Palmer sold 17,298 shares of the company’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $64.55, for a total transaction of $1,116,585.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Anthony R. Kenney sold 77,578 shares of the company’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $62.35, for a total value of $4,836,988.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 107,876 shares of company stock valued at $6,762,954. 1.05% of the stock is owned by company insiders.
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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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