Teacher Retirement System of Texas Reduces Stake in Marathon Petroleum Corp. (MPC)
Teacher Retirement System of Texas decreased its position in shares of Marathon Petroleum Corp. (NYSE:MPC) by 27.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 289,086 shares of the company’s stock after selling 109,736 shares during the period. Teacher Retirement System of Texas’ holdings in Marathon Petroleum Corp. were worth $11,734,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. OLD Republic International Corp bought a new stake in shares of Marathon Petroleum Corp. during the second quarter worth $10,781,000. Stillwater Capital Advisors LLC increased its stake in shares of Marathon Petroleum Corp. by 0.9% in the third quarter. Stillwater Capital Advisors LLC now owns 173,086 shares of the company’s stock worth $7,026,000 after buying an additional 1,499 shares during the last quarter. Douglas Lane & Associates LLC increased its stake in shares of Marathon Petroleum Corp. by 15.3% in the second quarter. Douglas Lane & Associates LLC now owns 707,623 shares of the company’s stock worth $26,861,000 after buying an additional 93,665 shares during the last quarter. Retirement Systems of Alabama increased its stake in shares of Marathon Petroleum Corp. by 0.6% in the second quarter. Retirement Systems of Alabama now owns 270,116 shares of the company’s stock worth $10,254,000 after buying an additional 1,581 shares during the last quarter. Finally, Foundry Partners LLC increased its stake in shares of Marathon Petroleum Corp. by 7.1% in the third quarter. Foundry Partners LLC now owns 194,201 shares of the company’s stock worth $7,883,000 after buying an additional 12,875 shares during the last quarter. 77.68% of the stock is currently owned by institutional investors.
Shares of Marathon Petroleum Corp. (NYSE:MPC) traded down 2.15% during mid-day trading on Tuesday, hitting $46.04. The stock had a trading volume of 4,242,679 shares. Marathon Petroleum Corp. has a 52-week low of $29.24 and a 52-week high of $59.99. The company has a market cap of $24.30 billion, a PE ratio of 21.68 and a beta of 1.80. The stock has a 50 day moving average price of $43.48 and a 200-day moving average price of $40.10.
Marathon Petroleum Corp. (NYSE:MPC) last announced its earnings results on Thursday, October 27th. The company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by $0.23. The firm earned $16.46 billion during the quarter, compared to analyst estimates of $17.18 billion. Marathon Petroleum Corp. had a net margin of 1.84% and a return on equity of 6.74%. The firm’s revenue for the quarter was down 11.2% compared to the same quarter last year. During the same period last year, the company earned $1.76 earnings per share. On average, equities analysts expect that Marathon Petroleum Corp. will post $2.05 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Shareholders of record on Wednesday, November 16th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend is Monday, November 14th. Marathon Petroleum Corp.’s dividend payout ratio is presently 67.61%.
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Several equities research analysts have weighed in on the company. Jefferies Group assumed coverage on Marathon Petroleum Corp. in a report on Tuesday, August 23rd. They issued a “buy” rating and a $48.00 price target for the company. Vetr raised Marathon Petroleum Corp. from a “buy” rating to a “strong-buy” rating and set a $51.50 price target for the company in a report on Monday, September 12th. Piper Jaffray Cos. raised their price target on Marathon Petroleum Corp. from $41.00 to $46.00 and gave the stock a “neutral” rating in a report on Friday, September 16th. Scotiabank reissued a “sector perform” rating and issued a $47.00 price target (up previously from $45.00) on shares of Marathon Petroleum Corp. in a report on Friday, October 28th. Finally, Credit Suisse Group AG reissued an “outperform” rating on shares of Marathon Petroleum Corp. in a report on Sunday, September 4th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the stock. Marathon Petroleum Corp. presently has a consensus rating of “Buy” and an average target price of $51.77.
Marathon Petroleum Corp. Company Profile
Marathon Petroleum Corporation is engaged in petroleum product refining, marketing, retail and transportation businesses in the United States and the east of the Mississippi. The Company’s segments include Refining & Marketing, Speedway, and Midstream. Its Refining & Marketing segment refines crude oil and other feedstocks at its approximately seven refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products.
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