New York State Teachers Retirement System lessened its stake in Marathon Petroleum Corp (NYSE:MPC) by 0.1% during the 1st quarter, Holdings Channel reports. The firm owned 1,096,967 shares of the oil and gas company’s stock after selling 1,261 shares during the quarter. New York State Teachers Retirement System’s holdings in Marathon Petroleum were worth $65,653,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Hanson McClain Inc. purchased a new stake in shares of Marathon Petroleum during the fourth quarter worth about $25,000. Alpha Omega Wealth Management LLC raised its position in Marathon Petroleum by 135.1% in the 1st quarter. Alpha Omega Wealth Management LLC now owns 435 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 250 shares in the last quarter. Certified Advisory Corp raised its position in Marathon Petroleum by 71.2% in the 4th quarter. Certified Advisory Corp now owns 476 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 198 shares in the last quarter. SeaBridge Investment Advisors LLC acquired a new stake in Marathon Petroleum in the 4th quarter valued at about $30,000. Finally, Berman Capital Advisors LLC acquired a new stake in Marathon Petroleum in the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 77.93% of the company’s stock.
Shares of MPC stock traded up $0.55 during midday trading on Thursday, hitting $51.74. The company had a trading volume of 52,918 shares, compared to its average volume of 6,676,197. Marathon Petroleum Corp has a 52-week low of $50.19 and a 52-week high of $88.45. The company has a market capitalization of $33.61 billion, a P/E ratio of 7.66, a price-to-earnings-growth ratio of 1.24 and a beta of 1.35. The company has a current ratio of 1.20, a quick ratio of 0.55 and a debt-to-equity ratio of 0.69.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Thursday, May 16th will be issued a $0.53 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $2.12 annualized dividend and a dividend yield of 4.10%. Marathon Petroleum’s dividend payout ratio is currently 31.27%.
Several equities research analysts have recently weighed in on the company. ValuEngine lowered Marathon Petroleum from a “sell” rating to a “strong sell” rating in a research report on Thursday, May 9th. Royal Bank of Canada cut their target price on Marathon Petroleum from $71.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Raymond James cut their target price on Marathon Petroleum from $90.00 to $85.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, April 10th. Credit Suisse Group cut their target price on Marathon Petroleum from $95.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, Cowen lowered Marathon Petroleum from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $90.00 to $65.00 in a research report on Friday, May 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $86.27.
In other news, CEO Gary R. Heminger sold 187,142 shares of the firm’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $65.00, for a total value of $12,164,230.00. Following the completion of the sale, the chief executive officer now directly owns 434,166 shares of the company’s stock, valued at approximately $28,220,790. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.06% of the stock is owned by company insiders.
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About Marathon Petroleum
Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Retail, and Midstream. The Refining & Marketing segment refines crude oil and other feed stocks at its 16 refineries in the West Coast, Gulf Coast, and Mid-Continent regions of the United States; and purchases refined products and ethanol for resale.
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