2,438 Marathon Petroleum Corporation $MPC Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lowered its position in Marathon Petroleum Corporation (NYSE:MPC) by 4.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 58,891 shares of the oil and gas company’s stock after selling 2,438 shares during the period. Retirement Systems of Alabama’s holdings in Marathon Petroleum were worth $23,287,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of MPC. Solstein Capital LLC acquired a new position in Marathon Petroleum in the 2nd quarter worth approximately $26,000. Caitlin John LLC acquired a new stake in Marathon Petroleum during the 2nd quarter valued at approximately $26,000. Bell Investment Advisors Inc acquired a new stake in Marathon Petroleum during the 2nd quarter valued at approximately $27,000. Main Street Group LTD purchased a new stake in shares of Marathon Petroleum in the 1st quarter valued at $35,000. Finally, Cetera Trust Company N.A purchased a new stake in shares of Marathon Petroleum in the 2nd quarter valued at $35,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

Shares of NYSE MPC opened at $402.73 on Thursday. The company has a quick ratio of 1.09, a current ratio of 1.45 and a debt-to-equity ratio of 1.10. The firm has a 50-day simple moving average of $422.83 and a 200-day simple moving average of $298.62. Marathon Petroleum Corporation has a 52 week low of $161.93 and a 52 week high of $493.98. The stock has a market capitalization of $109.65 billion, a price-to-earnings ratio of 13.84, a price-to-earnings-growth ratio of 0.10 and a beta of 0.53.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, November 3rd. The oil and gas company reported $26.93 earnings per share for the quarter, topping the consensus estimate of $25.37 by $1.56. The business had revenue of $56.03 billion for the quarter, compared to analysts’ expectations of $46.60 billion. Marathon Petroleum had a return on equity of 55.82% and a net margin of 8.27%. The business’s revenue for the quarter was up 57.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.01 EPS. On average, equities analysts predict that Marathon Petroleum Corporation will post 66.31 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 18th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, November 18th. Marathon Petroleum’s payout ratio is presently 13.75%.

Analyst Upgrades and Downgrades

Several research firms have commented on MPC. Weiss Ratings raised shares of Marathon Petroleum from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. Morgan Stanley lifted their price objective on Marathon Petroleum from $453.00 to $458.00 and gave the company an “overweight” rating in a research note on Wednesday, November 4th. Piper Sandler raised their target price on Marathon Petroleum from $462.00 to $466.00 and gave the stock an “overweight” rating in a report on Thursday, November 5th. Raymond James Financial boosted their price target on Marathon Petroleum from $350.00 to $445.00 and gave the company an “outperform” rating in a report on Monday, September 14th. Finally, Bank of America upped their price objective on Marathon Petroleum from $410.00 to $426.00 and gave the stock a “neutral” rating in a research report on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $425.12.

Insider Activity

In related news, SVP Shawn M. Lyon sold 1,000 shares of the business’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $375.75, for a total value of $375,750.00. Following the sale, the senior vice president directly owned 11,194 shares in the company, valued at approximately $4,206,145.50. The trade was a 8.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Molly R. Benson sold 17,196 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $358.57, for a total transaction of $6,165,969.72. Following the completion of the transaction, the insider owned 30,334 shares in the company, valued at approximately $10,876,862.38. This represents a 36.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 19,191 shares of company stock valued at $6,905,127 in the last 90 days. Company insiders own 0.17% of the company’s stock.

About Marathon Petroleum

Marathon Petroleum Corporation is an integrated downstream energy company focused on refining, marketing, and transporting petroleum products. Its refineries produce fuels and other products, including gasoline, diesel, jet fuel, asphalt, and petrochemical feedstocks. The company sells transportation fuels and related products through a network of branded locations and other wholesale and commercial channels, primarily in the United States. Its midstream operations, conducted largely through its affiliated partnership MPLX, include gathering, processing, and transporting natural gas and natural gas liquids, as well as storing and transporting crude oil and refined products.