Cidel Asset Management Inc. Buys 522 Shares of Marathon Petroleum Corporation $MPC

Cidel Asset Management Inc. increased its stake in Marathon Petroleum Corporation (NYSE:MPC) by 6.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,099 shares of the oil and gas company’s stock after purchasing an additional 522 shares during the quarter. Cidel Asset Management Inc.’s holdings in Marathon Petroleum were worth $1,345,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of MPC. Brighton Jones LLC raised its holdings in Marathon Petroleum by 30.9% in the 4th quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock worth $696,000 after purchasing an additional 1,178 shares during the period. GAMMA Investing LLC increased its stake in Marathon Petroleum by 3.4% in the 1st quarter. GAMMA Investing LLC now owns 10,577 shares of the oil and gas company’s stock worth $1,541,000 after buying an additional 351 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Marathon Petroleum by 2.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 110,599 shares of the oil and gas company’s stock worth $16,113,000 after buying an additional 2,539 shares in the last quarter. Kingswood Wealth Advisors LLC increased its stake in Marathon Petroleum by 7.8% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 5,024 shares of the oil and gas company’s stock worth $734,000 after buying an additional 364 shares in the last quarter. Finally, CWA Asset Management Group LLC increased its stake in Marathon Petroleum by 15.7% in the 1st quarter. CWA Asset Management Group LLC now owns 2,785 shares of the oil and gas company’s stock worth $406,000 after buying an additional 378 shares in the last quarter. 76.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MPC has been the subject of a number of analyst reports. Evercore ISI increased their price target on Marathon Petroleum from $170.00 to $210.00 and gave the stock an “in-line” rating in a research note on Friday, September 19th. Wolfe Research lowered Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 14th. Barclays increased their price target on Marathon Petroleum from $176.00 to $194.00 and gave the stock an “overweight” rating in a research note on Monday, October 13th. Piper Sandler increased their price target on Marathon Petroleum from $184.00 to $222.00 and gave the stock a “neutral” rating in a research note on Thursday, September 11th. Finally, Wells Fargo & Company initiated coverage on Marathon Petroleum in a research note on Friday. They issued an “overweight” rating and a $214.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $200.31.

Insider Buying and Selling

In related news, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $163.00, for a total value of $1,773,277.00. Following the completion of the transaction, the insider owned 28,700 shares in the company, valued at approximately $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Marathon Petroleum Trading Up 1.7%

Shares of Marathon Petroleum stock opened at $184.14 on Friday. The firm has a market cap of $55.98 billion, a price-to-earnings ratio of 27.32, a PEG ratio of 2.88 and a beta of 0.90. The business has a 50-day moving average price of $180.61 and a 200-day moving average price of $164.88. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. Marathon Petroleum Corporation has a twelve month low of $115.10 and a twelve month high of $201.61.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share for the quarter, beating analysts’ consensus estimates of $3.22 by $0.74. The firm had revenue of $34.10 billion during the quarter, compared to analyst estimates of $31.70 billion. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The business’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $4.12 earnings per share. Equities research analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th were given a $0.91 dividend. The ex-dividend date was Wednesday, August 20th. This represents a $3.64 annualized dividend and a yield of 2.0%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 54.01%.

Marathon Petroleum 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.