New York State Teachers Retirement System Has $53.64 Million Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

New York State Teachers Retirement System decreased its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 13.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 329,247 shares of the oil and gas company’s stock after selling 53,166 shares during the quarter. New York State Teachers Retirement System owned about 0.10% of Marathon Petroleum worth $53,638,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Founders Financial Securities LLC increased its position in shares of Marathon Petroleum by 22.8% during the 2nd quarter. Founders Financial Securities LLC now owns 4,972 shares of the oil and gas company’s stock worth $863,000 after purchasing an additional 924 shares during the last quarter. Fidelis Capital Partners LLC increased its position in shares of Marathon Petroleum by 3.2% during the 1st quarter. Fidelis Capital Partners LLC now owns 3,050 shares of the oil and gas company’s stock worth $615,000 after purchasing an additional 94 shares during the last quarter. LRI Investments LLC acquired a new position in shares of Marathon Petroleum during the 1st quarter worth approximately $97,000. Magnolia Capital Advisors LLC increased its position in shares of Marathon Petroleum by 353.4% during the 2nd quarter. Magnolia Capital Advisors LLC now owns 55,989 shares of the oil and gas company’s stock worth $9,713,000 after purchasing an additional 43,639 shares during the last quarter. Finally, Granite Bay Wealth Management LLC acquired a new position in shares of Marathon Petroleum during the 2nd quarter worth approximately $4,075,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

Shares of NYSE MPC opened at $144.77 on Thursday. The stock has a market capitalization of $51.01 billion, a PE ratio of 7.23, a P/E/G ratio of 3.03 and a beta of 1.37. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.31 and a quick ratio of 0.90. The business has a fifty day moving average price of $163.74 and a two-hundred day moving average price of $172.18. Marathon Petroleum Co. has a fifty-two week low of $140.98 and a fifty-two week high of $221.11.

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. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. 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 firm earned $5.32 EPS. Marathon Petroleum’s revenue was up 4.2% on a year-over-year basis. As a group, equities analysts predict that Marathon Petroleum Co. will post 8.71 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.51%. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s payout ratio is 16.48%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on MPC shares. Citigroup reduced their target price on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Mizuho reduced their target price on Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Wolfe Research started coverage on Marathon Petroleum in a research note on Thursday, July 18th. They set an “outperform” rating and a $200.00 target price for the company. Piper Sandler reduced their target price on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. Finally, Wells Fargo & Company reduced their price target on Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $187.00.

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.