Illinois Municipal Retirement Fund Sells 8,874 Shares of Marathon Petroleum Corporation $MPC

Illinois Municipal Retirement Fund lessened its stake in Marathon Petroleum Corporation (NYSE:MPC) by 11.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 67,266 shares of the oil and gas company’s stock after selling 8,874 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Marathon Petroleum were worth $16,425,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Journey Advisory Group LLC raised its position in Marathon Petroleum by 19.0% during the first quarter. Journey Advisory Group LLC now owns 48,920 shares of the oil and gas company’s stock worth $11,945,000 after acquiring an additional 7,820 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in Marathon Petroleum by 7.6% in the first quarter. Geneos Wealth Management Inc. now owns 2,935 shares of the oil and gas company’s stock valued at $717,000 after acquiring an additional 207 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Marathon Petroleum in the 1st quarter valued at about $195,000. MASTERINVEST Kapitalanlage GmbH acquired a new position in shares of Marathon Petroleum during the 1st quarter worth about $374,000. Finally, Ethos Financial Group LLC acquired a new position in shares of Marathon Petroleum during the 1st quarter worth about $262,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Stock Performance

NYSE MPC opened at $299.39 on Thursday. The stock has a market cap of $87.40 billion, a PE ratio of 19.54, a P/E/G ratio of 0.42 and a beta of 0.52. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.73 and a current ratio of 1.18. The firm has a 50-day moving average of $259.70 and a 200-day moving average of $225.73. Marathon Petroleum Corporation has a 52-week low of $158.00 and a 52-week high of $304.36.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.91. The business had revenue of $34.20 billion for the quarter, compared to analyst estimates of $33.42 billion. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. Marathon Petroleum’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.24) EPS. On average, sell-side analysts anticipate that Marathon Petroleum Corporation will post 34.58 EPS for the current year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were given a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $4.00 annualized dividend and a dividend yield of 1.3%. Marathon Petroleum’s dividend payout ratio is presently 26.11%.

Insider Buying and Selling at Marathon Petroleum

In other news, VP Michael A. Henschen II sold 6,336 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the transaction, the vice president owned 16,900 shares in the company, valued at approximately $4,543,058. This trade represents a 27.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Barclays raised their target price on shares of Marathon Petroleum from $270.00 to $289.00 and gave the company an “overweight” rating in a research note on Monday. Mizuho boosted their price target on Marathon Petroleum from $224.00 to $284.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 27th. Citigroup upped their price objective on Marathon Petroleum from $257.00 to $303.00 and gave the company a “neutral” rating in a research note on Tuesday. Piper Sandler raised their price objective on Marathon Petroleum from $197.00 to $228.00 and gave the company a “neutral” rating in a research report on Thursday, April 9th. Finally, Wall Street Zen upgraded Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 10th. Ten investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $283.56.

Marathon Petroleum Profile

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.