New York State Common Retirement Fund Sells 31,310 Shares of Marathon Petroleum Co. (NYSE:MPC)

New York State Common Retirement Fund decreased its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 7.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 398,459 shares of the oil and gas company’s stock after selling 31,310 shares during the quarter. New York State Common Retirement Fund owned 0.11% of Marathon Petroleum worth $64,913,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MPC. Allspring Global Investments Holdings LLC lifted its position in Marathon Petroleum by 5.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 138,789 shares of the oil and gas company’s stock worth $27,966,000 after purchasing an additional 7,092 shares during the period. Norden Group LLC lifted its position in Marathon Petroleum by 20.8% during the first quarter. Norden Group LLC now owns 4,694 shares of the oil and gas company’s stock worth $946,000 after purchasing an additional 808 shares during the period. J.W. Cole Advisors Inc. lifted its position in Marathon Petroleum by 6.3% during the first quarter. J.W. Cole Advisors Inc. now owns 3,160 shares of the oil and gas company’s stock worth $637,000 after purchasing an additional 188 shares during the period. Diversify Advisory Services LLC bought a new stake in Marathon Petroleum during the first quarter worth about $999,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Marathon Petroleum by 18.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 129,206 shares of the oil and gas company’s stock worth $26,035,000 after purchasing an additional 20,262 shares during the period. Institutional investors own 76.77% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on MPC shares. Citigroup lowered their target price on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. TD Cowen upped their price objective on Marathon Petroleum from $187.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Tudor, Pickering, Holt & Co. downgraded Marathon Petroleum from a “buy” rating to a “sell” rating in a research note on Monday, September 9th. Tudor Pickering downgraded Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, September 9th. Finally, Jefferies Financial Group upped their price objective on Marathon Petroleum from $222.00 to $231.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $187.00.

Marathon Petroleum Price Performance

Shares of MPC opened at $143.13 on Friday. Marathon Petroleum Co. has a 12-month low of $140.98 and a 12-month high of $221.11. The business’s fifty day moving average is $162.57 and its 200 day moving average is $171.55. The company has a quick ratio of 0.90, a current ratio of 1.31 and a debt-to-equity ratio of 0.86. The stock has a market cap of $47.90 billion, a P/E ratio of 7.52, a P/E/G ratio of 2.77 and a beta of 1.37.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $1.03. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The company had revenue of $38.36 billion for the quarter, compared to analysts’ expectations of $36.66 billion. During the same period last year, the business earned $5.32 EPS. Marathon Petroleum’s quarterly revenue was up 4.2% compared to the same quarter last year. Sell-side analysts anticipate that Marathon Petroleum Co. will post 8.71 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be paid a $0.91 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $3.64 annualized dividend and a yield of 2.54%. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s dividend payout ratio (DPR) is currently 17.34%.

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.