Marathon Petroleum Co. (NYSE:MPC) Shares Bought by Cibc World Markets Corp

Cibc World Markets Corp lifted its holdings in Marathon Petroleum Co. (NYSE:MPC) by 382.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 223,913 shares of the oil and gas company’s stock after acquiring an additional 177,480 shares during the quarter. Cibc World Markets Corp’s holdings in Marathon Petroleum were worth $31,236,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Wellington Management Group LLP grew its stake in shares of Marathon Petroleum by 342.1% in the 3rd quarter. Wellington Management Group LLP now owns 5,593,729 shares of the oil and gas company’s stock worth $911,274,000 after purchasing an additional 4,328,470 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Marathon Petroleum by 7.0% in the 4th quarter. Bank of New York Mellon Corp now owns 4,803,951 shares of the oil and gas company’s stock worth $670,151,000 after purchasing an additional 315,786 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Marathon Petroleum by 22.3% in the fourth quarter. Pacer Advisors Inc. now owns 3,552,655 shares of the oil and gas company’s stock worth $495,595,000 after acquiring an additional 647,045 shares in the last quarter. Amundi increased its position in shares of Marathon Petroleum by 18.0% in the fourth quarter. Amundi now owns 2,807,566 shares of the oil and gas company’s stock worth $398,388,000 after acquiring an additional 428,708 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Marathon Petroleum by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,485,925 shares of the oil and gas company’s stock worth $346,787,000 after acquiring an additional 67,913 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Insider Transactions at Marathon Petroleum

In related news, insider Ricky D. Hessling bought 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average price of $134.72 per share, with a total value of $269,440.00. Following the completion of the transaction, the insider now owns 12,162 shares of the company’s stock, valued at $1,638,464.64. The trade was a 19.68 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Evan Bayh bought 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average cost of $133.70 per share, for a total transaction of $133,700.00. Following the transaction, the director now directly owns 69,305 shares of the company’s stock, valued at $9,266,078.50. This trade represents a 1.46 % increase in their position. The disclosure for this purchase can be found here. 0.21% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MPC. TD Cowen reissued a “buy” rating and issued a $170.00 target price on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Piper Sandler dropped their target price on shares of Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Barclays lifted their target price on shares of Marathon Petroleum from $159.00 to $161.00 and gave the stock an “overweight” rating in a research report on Friday. Raymond James lifted their target price on shares of Marathon Petroleum from $190.00 to $192.00 and gave the stock a “strong-buy” rating in a research report on Friday, January 17th. Finally, Mizuho decreased their price target on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $182.13.

Marathon Petroleum Price Performance

NYSE MPC opened at $141.23 on Monday. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $44.00 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 3.11 and a beta of 1.39. The company has a 50 day moving average price of $148.36 and a two-hundred day moving average price of $152.93. Marathon Petroleum Co. has a 12-month low of $130.54 and a 12-month high of $221.11.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.71. The firm had revenue of $33.47 billion during the quarter, compared to analysts’ expectations of $31.94 billion. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The company’s revenue was down 9.1% compared to the same quarter last year. During the same period in the previous year, the company earned $3.98 earnings per share. As a group, equities analysts predict that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th were paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date was Wednesday, February 19th. Marathon Petroleum’s payout ratio is 36.66%.

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.