Public Employees Retirement Association of Colorado Decreases Stake in Marathon Petroleum Co. (NYSE:MPC)

Public Employees Retirement Association of Colorado lowered its stake in Marathon Petroleum Co. (NYSE:MPC) by 9.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,505 shares of the oil and gas company’s stock after selling 5,065 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Marathon Petroleum were worth $8,588,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in MPC. FinTrust Capital Advisors LLC raised its holdings in shares of Marathon Petroleum by 400.0% during the first quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 100 shares during the last quarter. Crewe Advisors LLC purchased a new position in shares of Marathon Petroleum during the first quarter worth $29,000. ICA Group Wealth Management LLC purchased a new position in shares of Marathon Petroleum during the fourth quarter worth $30,000. Vima LLC acquired a new stake in Marathon Petroleum during the fourth quarter valued at $30,000. Finally, TruNorth Capital Management LLC acquired a new stake in Marathon Petroleum during the second 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 MPC opened at $164.39 on Friday. Marathon Petroleum Co. has a fifty-two week low of $139.32 and a fifty-two week high of $221.11. The firm’s 50 day moving average price is $169.99 and its 200 day moving average price is $179.80. The company has a market cap of $57.92 billion, a P/E ratio of 8.21, a PEG ratio of 2.09 and a beta of 1.38. The company has a quick ratio of 0.90, a current ratio of 1.31 and a debt-to-equity ratio of 0.86.

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 the consensus estimate of $3.09 by $1.03. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The company had revenue of $38.36 billion during the quarter, compared to analysts’ expectations of $36.66 billion. During the same quarter in the previous year, the business posted $5.32 EPS. The firm’s revenue was up 4.2% on a year-over-year basis. On average, research analysts forecast that Marathon Petroleum Co. will post 12.68 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were issued a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend was Wednesday, August 21st. Marathon Petroleum’s payout ratio is 16.48%.

Wall Street Analyst Weigh In

Several research firms recently commented on MPC. Wolfe Research began coverage on shares of Marathon Petroleum in a research report on Thursday, July 18th. They set an “outperform” rating and a $200.00 price target on the stock. Barclays dropped their target price on shares of Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating on the stock in a research report on Monday, July 1st. Tudor, Pickering, Holt & Co. lowered shares of Marathon Petroleum from a “buy” rating to a “sell” rating in a research report on Monday, September 9th. TD Cowen lifted their target price on shares of Marathon Petroleum from $187.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, Scotiabank dropped their target price on shares of Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Marathon Petroleum currently has an average rating of “Hold” and an average target price of $197.69.

Marathon Petroleum Company 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.