State Board of Administration of Florida Retirement System Acquires 2,683 Shares of Marathon Petroleum Corporation $MPC

State Board of Administration of Florida Retirement System lifted its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC — Free Report) by 0.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 323,212 shares of the oil and gas company’s stock after purchasing an additional 2,683 shares during the period. State Board of Administration of Florida Retirement System owned about 0.11% of Marathon Petroleum worth $53,689,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Activest Wealth Management grew its stake in shares of Marathon Petroleum by 290.2% during the second quarter. Activest Wealth Management now owns 160 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 119 shares during the last quarter. WPG Advisers LLC bought a new stake in shares of Marathon Petroleum in the 1st quarter valued at about $32,000. NewSquare Capital LLC boosted 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 acquiring an additional 101 shares during the period. Stone House Investment Management LLC grew its position in Marathon Petroleum by 46.1% during the 2nd quarter. Stone House Investment Management LLC now owns 225 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 71 shares during the last quarter. Finally, Operose Advisors LLC purchased a new position in Marathon Petroleum in the 1st quarter worth approximately $42,000. 76.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on MPC shares. Bank of America increased their price objective on Marathon Petroleum from $184.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, September 3rd. Morgan Stanley increased their price target on shares of Marathon Petroleum from $182.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, October 3rd. Raymond James Financial set a $200.00 price target on shares of Marathon Petroleum in a report on Tuesday, November 4th. TD Cowen lowered their price objective on shares of Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. Finally, Piper Sandler raised their target price on Marathon Petroleum from $220.00 to $231.00 and gave the stock a “neutral” rating in a research note on Friday, November 14th. Eight investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $202.14.

View Our Latest Analysis on MPC

Marathon Petroleum Trading Up 1.0%

Shares of MPC opened at $193.73 on Friday. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year 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 firm’s 50-day moving average price is $191.67 and its 200-day moving average price is $177.36. The firm has a market capitalization of $58.24 billion, a price-to-earnings ratio of 20.65, a PEG ratio of 0.98 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC — Get Free Report) last issued its quarterly earnings data on Tuesday, November 4th. The oil and gas company reported $3.01 EPS for the quarter, topping the consensus estimate of $3.00 by $0.01. Marathon Petroleum had a net margin of 2.13% and a return on equity of 9.76%. The business had revenue of $34.81 billion during the quarter, compared to analyst estimates of $31.06 billion. Sell-side analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 19th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.1%. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.91. The ex-dividend date is Wednesday, November 19th. Marathon Petroleum’s dividend payout ratio is currently 42.64%.

About Marathon Petroleum

(Free Report)

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.

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