Treasurer of the State of North Carolina Sells 6,790 Shares of Marathon Petroleum Co. (NYSE:MPC)

Treasurer of the State of North Carolina lowered its stake in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 147,172 shares of the oil and gas company's stock after selling 6,790 shares during the period. Treasurer of the State of North Carolina's holdings in Marathon Petroleum were worth $20,530,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. M&T Bank Corp boosted its holdings in Marathon Petroleum by 1.5% in the third quarter. M&T Bank Corp now owns 33,349 shares of the oil and gas company's stock valued at $5,432,000 after acquiring an additional 485 shares in the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of Marathon Petroleum by 7.1% during the third quarter. TD Private Client Wealth LLC now owns 5,673 shares of the oil and gas company's stock valued at $924,000 after purchasing an additional 375 shares in the last quarter. Virtu Financial LLC raised its holdings in shares of Marathon Petroleum by 13.3% during the third quarter. Virtu Financial LLC now owns 4,373 shares of the oil and gas company's stock valued at $712,000 after purchasing an additional 515 shares during the last quarter. Tudor Financial Inc. purchased a new position in shares of Marathon Petroleum in the third quarter worth approximately $823,000. Finally, Stock Yards Bank & Trust Co. raised its holdings in Marathon Petroleum by 1.0% in the 3rd quarter. Stock Yards Bank & Trust Co. now owns 12,038 shares of the oil and gas company's stock worth $1,961,000 after purchasing an additional 116 shares during the period. 76.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on MPC shares. Scotiabank decreased their target price on Marathon Petroleum from $169.00 to $147.00 and set a "sector outperform" rating on the stock in a research note on Friday, April 11th. Tudor Pickering upgraded shares of Marathon Petroleum from a "strong sell" rating to a "hold" rating in a research report on Tuesday, February 4th. Barclays decreased their price objective on shares of Marathon Petroleum from $161.00 to $141.00 and set an "overweight" rating for the company in a report on Monday. Wells Fargo & Company cut their price target on Marathon Petroleum from $185.00 to $175.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. Finally, Piper Sandler reduced their price target on Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating for the company in a research report on Friday, March 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $175.79.

Marathon Petroleum Stock Performance

NYSE:MPC traded up $4.36 during midday trading on Thursday, reaching $128.43. 977,154 shares of the company traded hands, compared to its average volume of 2,688,279. The company has a fifty day moving average price of $141.89 and a 200 day moving average price of $148.09. The firm has a market capitalization of $40.01 billion, a price-to-earnings ratio of 12.92, a price-to-earnings-growth ratio of 3.11 and a beta of 1.04. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. Marathon Petroleum Co. has a twelve month low of $115.10 and a twelve month high of $205.61.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.06 by $0.71. The firm had revenue of $33.47 billion for 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 for the quarter was down 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.98 earnings per share. On average, analysts expect that Marathon Petroleum Co. will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Wednesday, February 19th were given a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $3.64 dividend on an annualized basis and a yield of 2.83%. Marathon Petroleum's payout ratio is currently 36.66%.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, Director Evan Bayh acquired 1,000 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average price of $133.70 per share, for a total transaction of $133,700.00. Following the acquisition, the director now directly owns 69,305 shares of the company's stock, valued at approximately $9,266,078.50. This trade represents a 1.46 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ricky D. Hessling acquired 2,000 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was bought at an average cost of $134.72 per share, with a total value of $269,440.00. Following the acquisition, the insider now owns 12,162 shares in the company, valued at $1,638,464.64. The trade was a 19.68 % increase in their position. The disclosure for this purchase can be found here. 0.25% of the stock is currently owned by company insiders.

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.