New York State Common Retirement Fund Increases Holdings in Marathon Petroleum Corporation $MPC

New York State Common Retirement Fund raised its stake in Marathon Petroleum Corporation (NYSE:MPC) by 2.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 151,600 shares of the oil and gas company’s stock after acquiring an additional 4,000 shares during the period. New York State Common Retirement Fund’s holdings in Marathon Petroleum were worth $29,219,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Marathon Petroleum by 11.2% during the 2nd quarter. Vanguard Group Inc. now owns 38,866,104 shares of the oil and gas company’s stock valued at $6,456,049,000 after purchasing an additional 3,924,713 shares in the last quarter. Norges Bank purchased a new stake in shares of Marathon Petroleum during the second quarter valued at approximately $527,197,000. Geode Capital Management LLC increased its position in shares of Marathon Petroleum by 14.8% during the second quarter. Geode Capital Management LLC now owns 8,013,213 shares of the oil and gas company’s stock valued at $1,325,598,000 after acquiring an additional 1,033,645 shares in the last quarter. Boston Partners raised its holdings in Marathon Petroleum by 13.1% in the 2nd quarter. Boston Partners now owns 6,163,737 shares of the oil and gas company’s stock worth $1,024,395,000 after acquiring an additional 715,223 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its position in Marathon Petroleum by 27,979.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 659,595 shares of the oil and gas company’s stock valued at $109,565,000 after acquiring an additional 657,246 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on MPC. Weiss Ratings restated a “hold (c)” rating on shares of Marathon Petroleum in a research note on Thursday, January 22nd. Zacks Research cut shares of Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 20th. Wells Fargo & Company lowered their price objective on Marathon Petroleum from $214.00 to $213.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Piper Sandler lowered their target price on shares of Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. Finally, The Goldman Sachs Group cut their price objective on shares of Marathon Petroleum from $206.00 to $204.00 and set a “buy” rating for the company in a report on Thursday, January 22nd. Nine analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $196.67.

Marathon Petroleum Stock Performance

Marathon Petroleum stock opened at $176.06 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. Marathon Petroleum Corporation has a twelve month low of $115.10 and a twelve month high of $202.29. The company’s 50-day moving average price is $177.62 and its 200-day moving average price is $180.50. The company has a market cap of $52.92 billion, a PE ratio of 18.77, a price-to-earnings-growth ratio of 1.80 and a beta of 0.74.

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

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.