Illinois Municipal Retirement Fund Sells 13,767 Shares of Marathon Petroleum Corporation $MPC

Illinois Municipal Retirement Fund lowered its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 20.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 52,080 shares of the oil and gas company’s stock after selling 13,767 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Marathon Petroleum were worth $10,038,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Savvy Advisors Inc. lifted its holdings in shares of Marathon Petroleum by 5.0% in the 3rd quarter. Savvy Advisors Inc. now owns 2,367 shares of the oil and gas company’s stock worth $456,000 after acquiring an additional 113 shares during the last quarter. Onyx Bridge Wealth Group LLC purchased a new position in Marathon Petroleum in the 3rd quarter worth $231,000. Plan A Wealth LLC bought a new stake in Marathon Petroleum in the third quarter worth $201,000. Caprock Group LLC purchased a new stake in Marathon Petroleum during the third quarter valued at about $2,983,000. Finally, ING Groep NV grew its stake in shares of Marathon Petroleum by 52.0% during the third quarter. ING Groep NV now owns 61,242 shares of the oil and gas company’s stock valued at $11,804,000 after buying an additional 20,950 shares during the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MPC. Citigroup increased their target price on Marathon Petroleum from $182.00 to $210.00 and gave the company a “neutral” rating in a report on Monday. Piper Sandler dropped their price objective on Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Raymond James Financial raised their target price on shares of Marathon Petroleum from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. BMO Capital Markets upped their price target on shares of Marathon Petroleum from $200.00 to $225.00 and gave the company an “outperform” rating in a report on Monday. Finally, TD Cowen raised their price target on shares of Marathon Petroleum from $183.00 to $198.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. Ten equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $202.19.

Marathon Petroleum Stock Performance

NYSE:MPC opened at $198.13 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 1.31. The firm’s fifty day simple moving average is $178.58 and its 200 day simple moving average is $181.93. The stock has a market cap of $59.56 billion, a P/E ratio of 14.84, a price-to-earnings-growth ratio of 1.41 and a beta of 0.74. Marathon Petroleum Corporation has a twelve month low of $115.10 and a twelve month high of $210.32.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, February 3rd. The oil and gas company reported $4.07 EPS for the quarter, topping the consensus estimate of $3.73 by $0.34. Marathon Petroleum had a net margin of 2.99% and a return on equity of 14.00%. The firm had revenue of $35.10 billion during the quarter, compared to analysts’ expectations of $30.89 billion. During the same period last year, the company posted $0.77 EPS. The company’s quarterly revenue was down .1% compared to the same quarter last year. As a group, research analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 18th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Wednesday, February 18th. Marathon Petroleum’s payout ratio is presently 29.96%.

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.