New York State Teachers Retirement System Cuts Position in Marathon Petroleum Corporation $MPC

New York State Teachers Retirement System reduced its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 6.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 238,921 shares of the oil and gas company’s stock after selling 16,102 shares during the quarter. New York State Teachers Retirement System’s holdings in Marathon Petroleum were worth $46,050,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MPC. Associated Banc Corp lifted its position in shares of Marathon Petroleum by 2.1% during the third quarter. Associated Banc Corp now owns 2,475 shares of the oil and gas company’s stock valued at $477,000 after buying an additional 52 shares during the last quarter. CoreCap Advisors LLC raised its stake in shares of Marathon Petroleum by 2.6% during the 3rd quarter. CoreCap Advisors LLC now owns 2,363 shares of the oil and gas company’s stock worth $456,000 after acquiring an additional 59 shares in the last quarter. Baker Tilly Wealth Management LLC lifted its position in Marathon Petroleum by 2.8% during the second quarter. Baker Tilly Wealth Management LLC now owns 2,226 shares of the oil and gas company’s stock valued at $370,000 after acquiring an additional 60 shares during the last quarter. CHICAGO TRUST Co NA boosted its stake in Marathon Petroleum by 3.9% in the second quarter. CHICAGO TRUST Co NA now owns 1,684 shares of the oil and gas company’s stock valued at $280,000 after acquiring an additional 63 shares in the last quarter. Finally, FSM Wealth Advisors LLC grew its holdings in Marathon Petroleum by 1.6% in the third quarter. FSM Wealth Advisors LLC now owns 3,944 shares of the oil and gas company’s stock worth $760,000 after purchasing an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Zacks Research raised Marathon Petroleum from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 5th. Scotiabank reissued an “outperform” rating on shares of Marathon Petroleum in a report on Thursday, October 9th. Morgan Stanley upped their price objective on shares of Marathon Petroleum from $182.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, October 3rd. Mizuho set a $196.00 price objective on shares of Marathon Petroleum in a research report on Friday, December 12th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Marathon Petroleum in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $199.71.

Marathon Petroleum Trading Down 0.4%

Shares of NYSE:MPC opened at $176.39 on Monday. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 1.31. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $202.29. The stock has a market cap of $53.02 billion, a price-to-earnings ratio of 18.80, a PEG ratio of 0.70 and a beta of 0.74. The business has a 50-day moving average price of $183.16 and a 200-day moving average price of $180.44.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 EPS for the quarter, beating analysts’ consensus estimates of $3.00 by $0.01. Marathon Petroleum had a return on equity of 9.76% and a net margin of 2.13%.The firm had revenue of $34.81 billion for the quarter, compared to analyst estimates of $31.06 billion. Equities analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Wednesday, November 19th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.3%. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend was Wednesday, November 19th. Marathon Petroleum’s dividend payout ratio is 42.64%.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.