State of Michigan Retirement System Trims Stock Position in Marathon Petroleum Co. (NYSE:MPC)

State of Michigan Retirement System trimmed its holdings in Marathon Petroleum Co. (NYSE:MPC) by 4.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 87,210 shares of the oil and gas company’s stock after selling 3,900 shares during the quarter. State of Michigan Retirement System’s holdings in Marathon Petroleum were worth $12,166,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. boosted its stake in shares of Marathon Petroleum by 1,204.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 543,062 shares of the oil and gas company’s stock worth $75,757,000 after buying an additional 501,441 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in Marathon Petroleum by 27.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 43,174 shares of the oil and gas company’s stock valued at $7,033,000 after acquiring an additional 9,355 shares during the period. Wilmington Savings Fund Society FSB grew its stake in shares of Marathon Petroleum by 747.3% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 21,275 shares of the oil and gas company’s stock worth $3,466,000 after purchasing an additional 18,764 shares during the period. Holistic Planning LLC acquired a new stake in shares of Marathon Petroleum during the 3rd quarter worth approximately $912,000. Finally, World Investment Advisors LLC raised its position in shares of Marathon Petroleum by 4,227.5% in the third quarter. World Investment Advisors LLC now owns 69,759 shares of the oil and gas company’s stock worth $11,364,000 after acquiring an additional 68,147 shares during the period. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Stock Down 5.2 %

Shares of MPC opened at $135.18 on Thursday. The stock has a fifty day simple moving average of $148.53 and a two-hundred day simple moving average of $154.81. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $43.44 billion, a PE ratio of 13.61, a price-to-earnings-growth ratio of 3.11 and a beta of 1.41. Marathon Petroleum Co. has a 52-week low of $130.54 and a 52-week high of $221.11.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.71. The firm had revenue of $33.47 billion during the quarter, compared to analysts’ expectations of $31.94 billion. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. Marathon Petroleum’s revenue was down 9.1% compared to the same quarter last year. During the same period last year, the business earned $3.98 earnings per share. As a group, equities analysts forecast that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 19th will be given a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $3.64 annualized dividend and a yield of 2.69%. Marathon Petroleum’s payout ratio is 36.66%.

Analysts Set New Price Targets

MPC has been the topic of a number of recent analyst reports. Tudor Pickering upgraded Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Wells Fargo & Company lifted their target price on shares of Marathon Petroleum from $182.00 to $183.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Mizuho cut their target price on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Raymond James raised their price target on shares of Marathon Petroleum from $190.00 to $192.00 and gave the company a “strong-buy” rating in a research note on Friday, January 17th. Finally, TD Cowen reissued a “buy” rating and set a $170.00 target price on shares of Marathon Petroleum in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Marathon Petroleum currently has an average rating of “Moderate Buy” and an average target price of $181.27.

Marathon Petroleum Company Profile

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.