New York State Teachers Retirement System Reduces Stock Holdings in Marathon Petroleum Corporation $MPC

New York State Teachers Retirement System lowered its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 6.3% during the 3rd quarter, according to the company in its most recent filing with the 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 owned 0.08% of Marathon Petroleum worth $46,050,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Delos Wealth Advisors LLC bought a new position in Marathon Petroleum during the second quarter valued at $25,000. Activest Wealth Management boosted its stake in shares of Marathon Petroleum by 290.2% during the 2nd quarter. Activest Wealth Management now owns 160 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 119 shares during the period. NewSquare Capital LLC grew its holdings in Marathon Petroleum by 103.1% during the 2nd quarter. NewSquare Capital LLC now owns 199 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 101 shares during the last quarter. WFA of San Diego LLC purchased a new stake in Marathon Petroleum in the 2nd quarter worth about $33,000. Finally, Transce3nd LLC lifted its stake in Marathon Petroleum by 10,250.0% in the second quarter. Transce3nd LLC now owns 207 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 205 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Price Performance

Shares of MPC stock opened at $176.39 on Monday. Marathon Petroleum Corporation has a twelve month low of $115.10 and a twelve month high of $202.29. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 1.31. The stock has a fifty day simple moving average of $183.16 and a two-hundred day simple moving average of $180.44. The stock has a market capitalization of $53.02 billion, a price-to-earnings ratio of 18.80, a P/E/G ratio of 0.70 and a beta of 0.74.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $31.06 billion. On average, analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

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

Analyst Upgrades and Downgrades

MPC has been the topic of several recent analyst reports. BMO Capital Markets reiterated an “outperform” rating on shares of Marathon Petroleum in a report on Tuesday, December 9th. Scotiabank reaffirmed an “outperform” rating on shares of Marathon Petroleum in a research report on Thursday, October 9th. Evercore ISI lifted their target price on Marathon Petroleum from $170.00 to $210.00 and gave the stock an “in-line” rating in a research report on Friday, September 19th. UBS Group boosted their target price on shares of Marathon Petroleum from $203.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Finally, Wall Street Zen downgraded shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, Marathon Petroleum currently has an average rating of “Moderate Buy” and an average target price of $199.71.

About Marathon Petroleum

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.