Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky trimmed its holdings in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) by 11.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,959 shares of the oil and gas company's stock after selling 3,615 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Marathon Petroleum were worth $4,718,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. WR Wealth Planners LLC grew its holdings in 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 purchasing an additional 57 shares during the last quarter. Legacy Advisors LLC grew its stake in 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 stake in Marathon Petroleum by 3.6% in the second quarter. Latitude Advisors LLC now owns 1,714 shares of the oil and gas company's stock valued at $297,000 after buying an additional 60 shares during the last quarter. 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 worth $715,000 after acquiring an additional 61 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Marathon Petroleum by 0.9% during the second quarter. EverSource Wealth Advisors LLC now owns 7,165 shares of the oil and gas company's stock worth $1,268,000 after acquiring an additional 61 shares during the last quarter. Institutional investors own 76.77% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Tudor Pickering lowered shares of Marathon Petroleum from a "strong-buy" rating to a "strong sell" rating in a research note on Monday, September 9th. JPMorgan Chase & Co. reduced their target price on Marathon Petroleum from $172.00 to $171.00 and set a "neutral" rating for the company in a research note on Wednesday, October 9th. Barclays cut their price objective on Marathon Petroleum from $168.00 to $159.00 and set an "overweight" rating on the stock in a report on Monday, November 11th. Mizuho decreased their target price on Marathon Petroleum from $198.00 to $193.00 and set a "neutral" rating for the company in a report on Monday, September 16th. Finally, Bank of America began coverage on shares of Marathon Petroleum in a research report on Thursday, October 17th. They set a "neutral" rating and a $174.00 price target for the company. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Marathon Petroleum presently has an average rating of "Moderate Buy" and a consensus price target of $185.27.

Marathon Petroleum Trading Down 0.5 %

Shares of NYSE MPC traded down $0.72 during trading on Friday, reaching $145.56. The stock had a trading volume of 2,014,740 shares, compared to its average volume of 2,615,508. The business's 50-day moving average price is $155.10 and its 200-day moving average price is $165.06. Marathon Petroleum Co. has a fifty-two week low of $142.84 and a fifty-two week high of $221.11. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. The company has a market cap of $46.78 billion, a P/E ratio of 11.53, a PEG ratio of 2.67 and a beta of 1.39.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.97 by $0.90. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The company had revenue of $35.37 billion for the quarter, compared to analyst estimates of $34.34 billion. During the same period in the prior year, the firm earned $8.14 earnings per share. The business's revenue for the quarter was down 14.9% compared to the same quarter last year. On average, equities research analysts predict that Marathon Petroleum Co. will post 9.5 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th were paid a $0.91 dividend. This is an increase from Marathon Petroleum's previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $3.64 annualized dividend and a dividend yield of 2.50%. Marathon Petroleum's payout ratio is 28.84%.

Marathon Petroleum announced that its board has authorized a share buyback plan on Tuesday, November 5th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to purchase up to 10% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board of directors believes its shares are undervalued.

Insider Activity

In other news, Director Jeffrey C. Campbell purchased 6,000 shares of the firm's stock in a transaction that occurred on Wednesday, December 4th. The stock was bought at an average price of $149.61 per share, for a total transaction of $897,660.00. Following the completion of the purchase, the director now directly owns 6,090 shares of the company's stock, valued at $911,124.90. The trade was a 6,666.67 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.21% of the company's stock.

Marathon Petroleum 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.