State Street Corp Amends Marathon Petroleum Stake Filing
Ticker: MPC · Form: SC 13G/A · Filed: Jan 30, 2024 · CIK: 1510295
| Field | Detail |
|---|---|
| Company | Marathon Petroleum CORP (MPC) |
| Form Type | SC 13G/A |
| Filed Date | Jan 30, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**State Street still holds Marathon Petroleum shares, signaling institutional confidence.**
AI Summary
State Street Corporation, a major financial institution, filed an amended SC 13G/A on January 30, 2024, indicating its ownership of Marathon Petroleum Corp's common stock as of December 31, 2023. This filing updates their previous disclosure, confirming their continued significant, but passive, stake in the petroleum refining company. For investors, this matters because State Street's continued holding signals institutional confidence in Marathon Petroleum, potentially providing a floor for the stock price and indicating a stable long-term outlook from a large institutional investor.
Why It Matters
This filing shows that a major institutional investor, State Street Corporation, maintains a significant, passive stake in Marathon Petroleum, which can be a vote of confidence for current and prospective shareholders.
Risk Assessment
Risk Level: low — This is a routine amendment by a passive institutional investor, indicating no immediate change in investment strategy or significant risk.
Analyst Insight
A smart investor would view State Street's continued passive ownership as a sign of stability and institutional confidence in Marathon Petroleum, but would also conduct their own due diligence on the company's fundamentals and industry outlook rather than solely relying on this filing.
Key Numbers
- 56585A102 — CUSIP Number (identifies Marathon Petroleum Corp's common stock)
- 005-86568 — SEC File Number (identifies Marathon Petroleum Corp's SEC registration)
- 04-2456637 — IRS Identification No. (identifies State Street Corporation)
Key Players & Entities
- State Street Corporation (company) — the reporting person and institutional investor
- Marathon Petroleum Corp (company) — the subject company whose common stock is being reported
- 0000093751-24-000475 (dollar_amount) — accession number for the filing
- December 31, 2023 (date) — the date of the event requiring the filing
Forward-Looking Statements
- State Street Corporation will maintain a significant, passive stake in Marathon Petroleum Corp for the foreseeable future. (State Street Corporation) — medium confidence, target: 2025-01-30
FAQ
What is the purpose of an SC 13G/A filing?
An SC 13G/A is an amendment to a Schedule 13G, which is filed by passive institutional investors who own more than 5% of a company's stock but do not intend to influence control. The '/A' indicates it's an amendment to a previously filed statement, as seen in the 'AMENDED FILING' designation for State Street Corporation regarding Marathon Petroleum Corp.
Who is the reporting person in this specific filing?
The reporting person is STATE STREET CORPORATION, identified by its name and I.R.S. Identification No. 04-2456637, as stated on page 2 of 5 of the filing.
What is the subject company whose securities are being reported?
The subject company is MARATHON PETROLEUM CORP, identified by its name and CUSIP NUMBER 56585A102, as stated on page 1 of 5 of the filing.
What was the 'Date of Event Which Requires Filing of This Statement'?
The 'DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT' was 12/31/2023, as indicated on page 1 of 5 of the filing.
Under which rule was this Schedule 13G/A filed?
This Schedule 13G/A was filed under RULE 13D-1 (B), as indicated by the 'X' in the appropriate box on page 1 of 5 of the filing.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 30, 2024 regarding Marathon Petroleum Corp (MPC).