Marathon Petroleum Co. (NYSE:MPC) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue trimmed its holdings in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 24.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 54,463 shares of the oil and gas company's stock after selling 17,600 shares during the period. State of Alaska Department of Revenue's holdings in Marathon Petroleum were worth $8,872,000 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 business. WR Wealth Planners LLC boosted its position in shares of Marathon Petroleum by 15.2% in the second quarter. WR Wealth Planners LLC now owns 431 shares of the oil and gas company's stock worth $75,000 after acquiring an additional 57 shares during the last quarter. D Orazio & Associates Inc. grew its stake in shares of Marathon Petroleum by 3.2% during the 1st quarter. D Orazio & Associates Inc. now owns 1,894 shares of the oil and gas company's stock valued at $382,000 after buying an additional 59 shares during the period. Legacy Advisors LLC increased its holdings in shares of Marathon Petroleum by 5.0% during the 2nd quarter. Legacy Advisors LLC now owns 1,238 shares of the oil and gas company's stock worth $215,000 after buying an additional 59 shares during the last quarter. Latitude Advisors LLC raised its position in shares of Marathon Petroleum by 3.6% in the 2nd quarter. Latitude Advisors LLC now owns 1,714 shares of the oil and gas company's stock worth $297,000 after buying an additional 60 shares during the period. Finally, SouthState Corp boosted its holdings in Marathon Petroleum by 1.5% in the second quarter. SouthState Corp now owns 4,122 shares of the oil and gas company's stock valued at $715,000 after acquiring an additional 61 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on MPC shares. TD Cowen raised their price objective on Marathon Petroleum from $187.00 to $190.00 and gave the stock a "buy" rating in a report on Wednesday, August 7th. Wells Fargo & Company cut their price target on shares of Marathon Petroleum from $196.00 to $183.00 and set an "overweight" rating on the stock in a report on Wednesday, October 9th. Tudor, Pickering, Holt & Co. downgraded shares of Marathon Petroleum from a "buy" rating to a "sell" rating in a research note on Monday, September 9th. Piper Sandler cut their price objective on Marathon Petroleum from $168.00 to $145.00 and set a "neutral" rating on the stock in a research report on Friday, September 20th. Finally, Bank of America initiated coverage on Marathon Petroleum in a report on Thursday, October 17th. They issued a "neutral" rating and a $174.00 price target for the company. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $187.00.

Marathon Petroleum Stock Performance

NYSE:MPC traded down $1.29 during midday trading on Monday, reaching $151.07. 3,695,760 shares of the company traded hands, compared to its average volume of 2,672,826. The firm has a market capitalization of $53.23 billion, a price-to-earnings ratio of 7.55, a price-to-earnings-growth ratio of 3.03 and a beta of 1.37. The company has a fifty day moving average price of $164.81 and a 200 day moving average price of $172.82. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.31 and a quick ratio of 0.90. Marathon Petroleum Co. has a twelve month low of $140.98 and a twelve month high of $221.11.

Marathon Petroleum (NYSE:MPC - Get Free Report) 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 the consensus estimate of $3.09 by $1.03. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The company had revenue of $38.36 billion during the quarter, compared to the consensus estimate of $36.66 billion. During the same quarter in the previous year, the company posted $5.32 earnings per share. The company's revenue for the quarter was up 4.2% compared to the same quarter last year. On average, analysts expect that Marathon Petroleum Co. will post 8.71 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were paid a $0.825 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $3.30 annualized dividend and a dividend yield of 2.18%. Marathon Petroleum's payout ratio is currently 16.48%.

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.