Marathon Petroleum Co. (NYSE:MPC) Stake Lowered by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D decreased its stake in Marathon Petroleum Co. (NYSE:MPC) by 5.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 124,145 shares of the oil and gas company’s stock after selling 6,540 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Marathon Petroleum were worth $17,318,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Gladius Capital Management LP acquired a new position in shares of Marathon Petroleum during the third quarter valued at $26,000. MeadowBrook Investment Advisors LLC boosted its stake in Marathon Petroleum by 88.9% during the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 80 shares during the period. True Wealth Design LLC grew its position in Marathon Petroleum by 672.7% in the 3rd quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 148 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of Marathon Petroleum in the third quarter valued at approximately $30,000. Finally, Darwin Wealth Management LLC bought a new stake in shares of Marathon Petroleum during the third quarter valued at approximately $33,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of MPC opened at $156.11 on Tuesday. The company has a 50-day moving average of $146.00 and a two-hundred day moving average of $156.79. The stock has a market cap of $50.17 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 2.91 and a beta of 1.41. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. Marathon Petroleum Co. has a one year low of $130.54 and a one year high of $221.11.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.71. The firm had revenue of $33.47 billion during the quarter, compared to analyst estimates of $31.94 billion. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The company’s revenue was down 9.1% on a year-over-year basis. During the same quarter last year, the business posted $3.98 EPS. On average, equities research analysts expect that Marathon Petroleum Co. will post 8.7 earnings per share for the current year.

Marathon Petroleum announced that its board has initiated a share repurchase program on Tuesday, November 5th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the oil and gas company to buy up to 10% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Wednesday, February 19th will be given a dividend of $0.91 per share. The ex-dividend date is Wednesday, February 19th. This represents a $3.64 dividend on an annualized basis and a yield of 2.33%. Marathon Petroleum’s payout ratio is presently 36.66%.

Insider Buying and Selling at Marathon Petroleum

In related news, Director Jeffrey C. Campbell purchased 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was acquired at an average cost of $149.61 per share, for a total transaction of $897,660.00. Following the completion of the acquisition, the director now owns 6,090 shares in the company, valued at $911,124.90. This trade represents a 6,666.67 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MPC. TD Cowen restated a “buy” rating and issued a $170.00 target price on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Barclays reduced their price objective on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Wells Fargo & Company raised their target price on shares of Marathon Petroleum from $182.00 to $183.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Raymond James upped their price target on shares of Marathon Petroleum from $190.00 to $192.00 and gave the stock a “strong-buy” rating in a research note on Friday, January 17th. Finally, Mizuho dropped their target price on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $181.27.

About Marathon Petroleum

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.