Marathon Petroleum Corporation (NYSE:MPC) Shares Sold by Teacher Retirement System of Texas
Teacher Retirement System of Texas lowered its stake in Marathon Petroleum Corporation (NYSE:MPC — Free Report) by 74.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 131,508 shares of the oil and gas company’s stock after selling 389,921 shares during the quarter. Teacher Retirement System of Texas’ holdings in Marathon Petroleum were worth $19,159,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Greatmark Investment Partners Inc. lifted its position in Marathon Petroleum by 3.5% in the fourth quarter. Greatmark Investment Partners Inc. now owns 161,171 shares of the oil and gas company’s stock valued at $22,483,000 after buying an additional 5,476 shares during the last quarter. TCTC Holdings LLC increased its stake in Marathon Petroleum by 3.3% during the fourth quarter. TCTC Holdings LLC now owns 91,256 shares of the oil and gas company’s stock worth $12,730,000 after purchasing an additional 2,892 shares during the period. Cambridge Financial Group Inc. purchased a new stake in Marathon Petroleum during the fourth quarter worth about $5,624,000. Good Steward Wealth Advisors LLC purchased a new stake in Marathon Petroleum during the first quarter worth about $346,000. Finally, New Age Alpha Advisors LLC purchased a new stake in Marathon Petroleum during the fourth quarter worth about $1,192,000. Institutional investors and hedge funds own 76.77% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on MPC shares. Evercore ISI started coverage on shares of Marathon Petroleum in a research note on Wednesday, June 18th. They set an “in-line” rating and a $170.00 price target on the stock. Scotiabank cut their price target on shares of 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. Raymond James Financial reiterated a “strong-buy” rating on shares of Marathon Petroleum in a research note on Monday. Wells Fargo & Company upped their target price on shares of Marathon Petroleum from $180.00 to $182.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 11th. Finally, Mizuho upped their target price on shares of Marathon Petroleum from $168.00 to $184.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $176.13.
Check Out Our Latest Report on Marathon Petroleum
Marathon Petroleum Stock Performance
Shares of MPC opened at $172.01 on Friday. The company has a market capitalization of $52.84 billion, a price-to-earnings ratio of 24.19, a price-to-earnings-growth ratio of 3.46 and a beta of 0.88. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $183.31. The stock has a 50 day moving average price of $159.64 and a 200 day moving average price of $148.32. The company has a quick ratio of 0.73, a current ratio of 1.19 and a debt-to-equity ratio of 1.16.
Marathon Petroleum (NYSE:MPC — Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.16. The business had revenue of $31.85 billion during the quarter, compared to the consensus estimate of $28.91 billion. Marathon Petroleum had a return on equity of 8.89% and a net margin of 1.75%. The company’s revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.58 earnings per share. Research analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.
Marathon Petroleum Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st were issued a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.12%. The ex-dividend date was Wednesday, May 21st. Marathon Petroleum’s payout ratio is currently 51.20%.
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.
Featured Stories
Want to see what other hedge funds are holding MPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Petroleum Corporation (NYSE:MPC — Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Marathon Petroleum, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Marathon Petroleum wasn’t on the list.
While Marathon Petroleum currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
If a company’s CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report