Illinois Municipal Retirement Fund Buys 6,774 Shares of Marathon Petroleum Co. (NYSE:MPC)

Illinois Municipal Retirement Fund boosted its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 4.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 168,591 shares of the oil and gas company’s stock after purchasing an additional 6,774 shares during the quarter. Marathon Petroleum comprises 0.4% of Illinois Municipal Retirement Fund’s holdings, making the stock its 29th largest holding. Illinois Municipal Retirement Fund’s holdings in Marathon Petroleum were worth $29,247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Hanlon Investment Management Inc. purchased a new position in shares of Marathon Petroleum in the 2nd quarter worth approximately $363,000. Savant Capital LLC grew its holdings in Marathon Petroleum by 3.6% in the second quarter. Savant Capital LLC now owns 37,981 shares of the oil and gas company’s stock worth $6,589,000 after purchasing an additional 1,318 shares during the last quarter. Sustainable Insight Capital Management LLC acquired a new position in shares of Marathon Petroleum during the second quarter worth $312,000. North Star Asset Management Inc. lifted its holdings in shares of Marathon Petroleum by 7.7% during the 2nd quarter. North Star Asset Management Inc. now owns 1,631 shares of the oil and gas company’s stock valued at $283,000 after purchasing an additional 116 shares during the last quarter. Finally, Private Advisor Group LLC boosted its position in shares of Marathon Petroleum by 6.8% in the 2nd quarter. Private Advisor Group LLC now owns 47,141 shares of the oil and gas company’s stock worth $8,178,000 after purchasing an additional 3,012 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on MPC shares. Scotiabank reduced their target price on Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. JPMorgan Chase & Co. decreased their price objective on shares of Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating for the company in a research report on Tuesday, July 2nd. Piper Sandler dropped their target price on shares of Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating on the stock in a research report on Friday, June 14th. StockNews.com cut shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a report on Friday, June 14th. Finally, Jefferies Financial Group lifted their price objective on shares of Marathon Petroleum from $222.00 to $231.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $198.38.

Marathon Petroleum Stock Performance

Shares of NYSE MPC traded down $2.46 during trading on Friday, reaching $166.00. 2,242,556 shares of the company traded hands, compared to its average volume of 2,623,754. Marathon Petroleum Co. has a 12-month low of $139.32 and a 12-month high of $221.11. The company has a current ratio of 1.31, a quick ratio of 0.90 and a debt-to-equity ratio of 0.86. The stock has a market cap of $58.49 billion, a P/E ratio of 8.29, a PEG ratio of 2.33 and a beta of 1.38. The firm’s fifty day simple moving average is $171.21 and its 200 day simple moving average is $180.21.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $1.03. The company had revenue of $38.36 billion during the quarter, compared to the consensus estimate of $36.66 billion. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. Marathon Petroleum’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the previous year, the company posted $5.32 earnings per share. As a group, research analysts anticipate that Marathon Petroleum Co. will post 12.68 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be given a dividend of $0.825 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $3.30 annualized dividend and a yield of 1.99%. Marathon Petroleum’s dividend payout ratio 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.