Kentucky Retirement Systems Sells 1,397 Shares of Marathon Petroleum Co. (NYSE:MPC)

Kentucky Retirement Systems lowered its position in Marathon Petroleum Co. (NYSE:MPC) by 5.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,550 shares of the oil and gas company’s stock after selling 1,397 shares during the quarter. Kentucky Retirement Systems’ holdings in Marathon Petroleum were worth $4,606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. FinTrust Capital Advisors LLC raised its position in shares of Marathon Petroleum by 400.0% in the 1st quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 100 shares in the last quarter. Crewe Advisors LLC bought a new stake in Marathon Petroleum in the first quarter valued at $29,000. ICA Group Wealth Management LLC bought a new stake in Marathon Petroleum in the 4th quarter valued at about $30,000. Wellington Shields & Co. LLC bought a new stake in shares of Marathon Petroleum during the first quarter valued at approximately $40,000. Finally, TruNorth Capital Management LLC bought a new position in shares of Marathon Petroleum in the 2nd quarter worth $35,000. Institutional investors own 76.77% of the company’s stock.

Wall Street Analyst Weigh In

MPC has been the topic of a number of recent research reports. Piper Sandler dropped their price objective on shares of Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating on the stock in a research note on Friday, June 14th. Tudor, Pickering, Holt & Co. downgraded Marathon Petroleum from a “buy” rating to a “sell” rating in a research note on Monday, September 9th. TD Cowen increased their price objective on Marathon Petroleum from $187.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. StockNews.com cut Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. Finally, Tudor Pickering lowered Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, September 9th. Two analysts have rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Marathon Petroleum presently has a consensus rating of “Hold” and a consensus price target of $199.46.

Marathon Petroleum Price Performance

MPC opened at $166.36 on Friday. The firm has a market cap of $58.61 billion, a P/E ratio of 8.31, a PEG ratio of 2.09 and a beta of 1.38. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 1.31. Marathon Petroleum Co. has a fifty-two week low of $139.32 and a fifty-two week high of $221.11. The firm has a 50-day moving average of $170.01 and a 200 day moving average of $179.84.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $1.03. The company had revenue of $38.36 billion for the quarter, compared to analysts’ expectations of $36.66 billion. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. Marathon Petroleum’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.32 EPS. On average, research analysts expect that Marathon Petroleum Co. will post 12.68 EPS for the current year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were paid a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend was Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio is currently 16.48%.

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.