Public Employees Retirement System of Ohio Invests $25.45 Million in Marathon Petroleum Corporation $MPC

Public Employees Retirement System of Ohio bought a new stake in Marathon Petroleum Corporation (NYSE:MPC) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 99,527 shares of the oil and gas company’s stock, valued at approximately $25,446,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Marathon Petroleum in the second quarter worth about $6,648,958,000. State Street Corp grew its stake in shares of Marathon Petroleum by 0.3% during the fourth quarter. State Street Corp now owns 17,934,327 shares of the oil and gas company’s stock valued at $2,916,660,000 after purchasing an additional 47,896 shares during the last quarter. Boston Partners increased its holdings in shares of Marathon Petroleum by 2.3% in the third quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company’s stock valued at $1,214,522,000 after purchasing an additional 141,691 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Marathon Petroleum in the second quarter valued at approximately $1,029,611,000. Finally, Norges Bank bought a new position in Marathon Petroleum in the 4th quarter worth approximately $472,312,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the sale, the vice president directly owned 16,900 shares in the company, valued at approximately $4,543,058. This trade represents a 27.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Shawn M. Lyon sold 2,500 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $350.00, for a total transaction of $875,000.00. Following the sale, the senior vice president owned 12,619 shares in the company, valued at approximately $4,416,650. The trade was a 16.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 26,032 shares of company stock worth $8,744,213. 0.17% of the stock is owned by company insiders.

Marathon Petroleum Stock Up 1.5%

Shares of NYSE:MPC opened at $369.00 on Friday. The company has a 50 day moving average price of $308.87 and a two-hundred day moving average price of $260.20. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.89 and a current ratio of 1.25. The company has a market capitalization of $107.73 billion, a PE ratio of 12.68, a PEG ratio of 0.24 and a beta of 0.52. Marathon Petroleum Corporation has a 52 week low of $161.93 and a 52 week high of $369.12.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $14.27 by $3.46. The company had revenue of $51.99 billion during the quarter, compared to analyst estimates of $40.87 billion. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The firm’s revenue was up 53.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.96 EPS. Analysts forecast that Marathon Petroleum Corporation will post 46.66 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, August 19th. Marathon Petroleum’s payout ratio is 13.75%.

Wall Street Analyst Weigh In

MPC has been the topic of a number of recent research reports. Piper Sandler increased their price objective on Marathon Petroleum from $343.00 to $344.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Wall Street Zen raised Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 10th. Zacks Research lowered Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 17th. The Goldman Sachs Group boosted their price objective on Marathon Petroleum from $291.00 to $376.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Finally, TD Cowen upped their target price on shares of Marathon Petroleum from $357.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $312.50.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.