State Street Corp Amends Marathon Petroleum Stake Filing

Ticker: MPC · Form: SC 13G/A · Filed: 2024-01-30T00:00:00.000Z

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

Key Players & Entities

Forward-Looking Statements

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.

From the Filing

0000093751-24-000475.txt : 20240130 0000093751-24-000475.hdr.sgml : 20240130 20240130152440 ACCESSION NUMBER: 0000093751-24-000475 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240130 DATE AS OF CHANGE: 20240130 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Marathon Petroleum Corp CENTRAL INDEX KEY: 0001510295 STANDARD INDUSTRIAL CLASSIFICATION: PETROLEUM REFINING [2911] ORGANIZATION NAME: 01 Energy & Transportation IRS NUMBER: 271284632 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-86568 FILM NUMBER: 24577810 BUSINESS ADDRESS: STREET 1: 539 SOUTH MAIN STREET CITY: FINDLAY STATE: OH ZIP: 45840-3229 BUSINESS PHONE: 419-421-2159 MAIL ADDRESS: STREET 1: 539 SOUTH MAIN STREET CITY: FINDLAY STATE: OH ZIP: 45840-3229 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: STATE STREET CORP CENTRAL INDEX KEY: 0000093751 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] ORGANIZATION NAME: 02 Finance IRS NUMBER: 042456637 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 1 CONGRESS STREET STREET 2: SUITE 1 CITY: BOSTON STATE: MA ZIP: 02114 BUSINESS PHONE: 617 786-3000 MAIL ADDRESS: STREET 1: 1 CONGRESS STREET STREET 2: SUITE 1 CITY: BOSTON STATE: MA ZIP: 02114 FORMER COMPANY: FORMER CONFORMED NAME: STATE STREET Corp DATE OF NAME CHANGE: 20090218 FORMER COMPANY: FORMER CONFORMED NAME: STATE STREET CORP DATE OF NAME CHANGE: 19970424 FORMER COMPANY: FORMER CONFORMED NAME: STATE STREET BOSTON FINANCIAL CORP DATE OF NAME CHANGE: 19780525 SC 13G/A 1 Marathon_Petroleum.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13G UNDER THE SECURITIES EXCHANGE ACT OF 1934 AMENDED FILING MARATHON PETROLEUM CORP (NAME OF ISSUER) COMMON STOCK (TITLE OF CLASS OF SECURITIES) 56585A102 (CUSIP NUMBER) 12/31/2023 (DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT) CHECK THE APPROPRIATE BOX TO DESIGNATE THE RULE PURSUANT TO WHICH THIS SCHEDULE IS FILED: (X) RULE 13D-1 (B) ( ) RULE 13D-1 (C) ( ) RULE 13D-1 (D) *THE REMAINDER OF THIS COVER PAGE SHALL BE FILLED OUT FOR A REPORTING PERSON`S INITIAL FILING ON THIS FORM WITH RESPECT TO THE SUBJECT CLASS OF SECURITIES, AND FOR ANY SUBSEQUENT AMENDMENT CONTAINING INFORMATION WHICH WOULD ALTER THE DISCLOSURES PROVIDED IN A PRIOR COVER PAGE. THE INFORMATION REQUIRED IN THE REMAINDER OF THIS COVER PAGE SHALL NOT BE DEEMED TO BE "FILED" FOR THE PURPOSE OF SECTION 18 OF THE SECURITIES EXCHANGE ACT OF 1934 ("ACT") OR OTHERWISE SUBJECT TO THE LIABILITIES OF THAT SECTION OF THE ACT BUT SHALL BE SUBJECT TO ALL OTHER PROVISIONS OF THE ACT (HOWEVER, SEE THE NOTES). CUSIP NO:56585A102 13G Page 2 of 5 Pages 1. NAME OF REPORTING PERSON: STATE STREET CORPORATION I.R.S. IDENTIFICATION NO. OF THE ABOVE PERSON: 04-2456637 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP NOT APPLICABLE 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION BOSTON, MASSACHUSETTS 5. SOLE VOTING POWER 0 SHARES 6. SHARED VOTING POWER 18,246,186 7. SOLE DISPOSITIVE POWER 0 SHARES 8. SHARED DISPOSITIVE POWER 25,099,168 9. AGGREGATED AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 25,127,390 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES NOT APPLICABLE 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 6.62% 12. TYPE OF REPORTING PERSON HC CUSIP NO: 56585A102 13G Page 3 of 5 Pages ITEM 1. (A) NAME OF ISSUER MARATHON PETROLEUM CORP (B) ADDRESS OF ISSUER`S PRINCIPAL EXECUTIVE OFFICES 539 SOUTH MAIN STREET FINDLAY OH 45840 UNITED STATES ITEM 2. (A) NAME OF PERSON FILING STATE STREET CORPORATION (B) ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE STATE STREET FINANCIAL CENTER 1 CONGRESS STREET, SUITE 1 BOSTON, MA 02114-2016 (FOR ALL REPORTING PERSONS) (C) CITIZENSHIP: SEE ITEM 4 (CITIZENSHIP OR PLACE OF ORGANIZATION) OF COVER PAGES (D) TITLE OF CLASS OF SECURITIES COMMON STOCK (E) CUSIP NUMBER

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