State of New Jersey Common Pension Fund D Sells 1,391 Shares of Marathon Petroleum Corporation $MPC

State of New Jersey Common Pension Fund D reduced its stake in shares of Marathon Petroleum Corporation (NYSE:MPC — Free Report) by 1.3% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 107,216 shares of the oil and gas company’s stock after selling 1,391 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Marathon Petroleum were worth $17,810,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Peterson Wealth Services grew its holdings in shares of Marathon Petroleum by 2.3% in the second quarter. Peterson Wealth Services now owns 19,417 shares of the oil and gas company’s stock valued at $3,225,000 after acquiring an additional 442 shares in the last quarter. Sage Mountain Advisors LLC grew its holdings in shares of Marathon Petroleum by 24.3% in the second quarter. Sage Mountain Advisors LLC now owns 2,260 shares of the oil and gas company’s stock valued at $375,000 after acquiring an additional 442 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in Marathon Petroleum by 0.4% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 729,862 shares of the oil and gas company’s stock valued at $121,237,000 after purchasing an additional 2,648 shares during the period. Catalyst Capital Advisors LLC grew its holdings in Marathon Petroleum by 72.1% during the second quarter. Catalyst Capital Advisors LLC now owns 907 shares of the oil and gas company’s stock valued at $151,000 after purchasing an additional 380 shares during the period. Finally, Mader & Shannon Wealth Management Inc. grew its holdings in Marathon Petroleum by 0.5% during the second quarter. Mader & Shannon Wealth Management Inc. now owns 16,568 shares of the oil and gas company’s stock valued at $2,752,000 after purchasing an additional 81 shares during the period. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Stock Up 0.1%

Shares of NYSE:MPC opened at $196.17 on Friday. The stock’s 50-day moving average price is $183.52 and its 200-day moving average price is $167.25. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $201.61. The stock has a market capitalization of $59.64 billion, a P/E ratio of 29.10, a price-to-earnings-growth ratio of 4.11 and a beta of 0.90. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15.

Marathon Petroleum (NYSE:MPC — Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $0.74. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The firm had revenue of $34.10 billion for the quarter, compared to analysts’ expectations of $31.70 billion. During the same period last year, the firm earned $4.12 earnings per share. The company’s revenue for the quarter was down 11.1% compared to the same quarter last year. On average, equities analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th were paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Wednesday, August 20th. Marathon Petroleum’s dividend payout ratio (DPR) is 54.01%.

Wall Street Analyst Weigh In

MPC has been the topic of several recent research reports. Mizuho increased their target price on Marathon Petroleum from $184.00 to $188.00 and gave the stock a “neutral” rating in a research report on Monday, September 15th. UBS Group increased their target price on Marathon Petroleum from $203.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, September 26th. Evercore ISI increased their target price on Marathon Petroleum from $170.00 to $210.00 and gave the stock an “in-line” rating in a research report on Friday, September 19th. Barclays increased their target price on Marathon Petroleum from $176.00 to $194.00 and gave the stock an “overweight” rating in a research report on Monday, October 13th. Finally, Scotiabank restated an “outperform” rating on shares of Marathon Petroleum in a research report on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $200.31.

Get Our Latest Report on MPC

Insider Activity

In related news, insider Molly R. Benson sold 10,879 shares of the firm’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $163.00, for a total value of $1,773,277.00. Following the sale, the insider directly owned 28,700 shares of the company’s stock, valued at $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.21% of the stock is owned by insiders.

Marathon Petroleum Profile

(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.

Read More

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).

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