State Street Corp Decreases Holdings in Marathon Petroleum Corporation $MPC

State Street Corp decreased its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 5.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,440,460 shares of the oil and gas company’s stock after selling 1,026,263 shares during the quarter. State Street Corp owned about 6.07% of Marathon Petroleum worth $3,063,145,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Activest Wealth Management grew its stake in shares of Marathon Petroleum by 290.2% during the second quarter. Activest Wealth Management now owns 160 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 119 shares during the last quarter. WPG Advisers LLC acquired a new position in Marathon Petroleum during the 1st quarter valued at approximately $32,000. NewSquare Capital LLC raised its holdings in shares of Marathon Petroleum by 103.1% in the second quarter. NewSquare Capital LLC now owns 199 shares of the oil and gas company’s stock worth $33,000 after buying an additional 101 shares during the last quarter. Transce3nd LLC lifted its stake in shares of Marathon Petroleum by 10,250.0% during the second quarter. Transce3nd LLC now owns 207 shares of the oil and gas company’s stock worth $34,000 after buying an additional 205 shares during the period. Finally, Stone House Investment Management LLC grew its holdings in shares of Marathon Petroleum by 46.1% during the second quarter. Stone House Investment Management LLC now owns 225 shares of the oil and gas company’s stock valued at $37,000 after buying an additional 71 shares during the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Stock Up 0.6%

MPC stock opened at $190.77 on Wednesday. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $202.29. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.79 and a current ratio of 1.32. The firm’s fifty day moving average is $191.33 and its 200 day moving average is $179.04. The firm has a market cap of $57.35 billion, a PE ratio of 20.34, a P/E/G ratio of 0.98 and a beta of 0.72.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, November 4th. The oil and gas company reported $3.01 EPS for the quarter, beating analysts’ consensus estimates of $3.00 by $0.01. Marathon Petroleum had a return on equity of 9.76% and a net margin of 2.13%.The business had revenue of $34.81 billion during the quarter, compared to analysts’ expectations of $31.06 billion. On average, research analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 19th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, November 19th. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.91. This represents a $4.00 annualized dividend and a yield of 2.1%. Marathon Petroleum’s payout ratio is 42.64%.

Analysts Set New Price Targets

MPC has been the subject of a number of research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Marathon Petroleum in a research note on Wednesday, October 8th. Piper Sandler raised their price objective on Marathon Petroleum from $220.00 to $231.00 and gave the stock a “neutral” rating in a research note on Friday, November 14th. Evercore ISI lifted their target price on Marathon Petroleum from $170.00 to $210.00 and gave the stock an “in-line” rating in a report on Friday, September 19th. Bank of America increased their price target on shares of Marathon Petroleum from $184.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, September 3rd. Finally, Morgan Stanley upped their price objective on shares of Marathon Petroleum from $182.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, October 3rd. Eight equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Marathon Petroleum has a consensus rating of “Hold” and a consensus price target of $203.21.

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.