Marathon Petroleum Co. (NYSE:MPC) Stake Decreased by Investment Management Corp of Ontario

Investment Management Corp of Ontario reduced its holdings in Marathon Petroleum Co. (NYSE:MPC) by 26.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,009 shares of the oil and gas company’s stock after selling 9,651 shares during the quarter. Investment Management Corp of Ontario’s holdings in Marathon Petroleum were worth $3,768,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Kohmann Bosshard Financial Services LLC bought a new position in Marathon Petroleum during the 4th quarter valued at $27,000. Asset Planning Inc purchased a new stake in Marathon Petroleum in the 4th quarter worth about $28,000. Sierra Ocean LLC acquired a new stake in shares of Marathon Petroleum during the fourth quarter worth approximately $31,000. Cape Investment Advisory Inc. grew its holdings in shares of Marathon Petroleum by 762.9% during the 4th quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company’s stock valued at $42,000 after acquiring an additional 267 shares in the last quarter. Finally, OFI Invest Asset Management acquired a new position in Marathon Petroleum in the 4th quarter worth about $44,000. Institutional investors own 76.77% of the company’s stock.

Analyst Ratings Changes

MPC has been the subject of several analyst reports. Barclays reduced their price objective on shares of Marathon Petroleum from $161.00 to $141.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Tudor Pickering raised shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Wells Fargo & Company reduced their price objective on Marathon Petroleum from $185.00 to $175.00 and set an “overweight” rating for the company in a research report on Friday, April 11th. Morgan Stanley lowered their target price on shares of Marathon Petroleum from $175.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Finally, Piper Sandler reduced 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 note on Friday, March 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $172.93.

Marathon Petroleum Stock Up 0.6 %

Shares of NYSE MPC opened at $150.90 on Friday. The firm’s 50-day moving average is $137.10 and its 200-day moving average is $145.10. The firm has a market capitalization of $46.36 billion, a PE ratio of 15.20, a price-to-earnings-growth ratio of 3.11 and a beta of 0.87. Marathon Petroleum Co. has a 1 year low of $115.10 and a 1 year high of $183.31. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.16. The company had revenue of $31.85 billion during the quarter, compared to analysts’ expectations of $28.91 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. Marathon Petroleum’s revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.58 EPS. Equities analysts expect that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be given a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $3.64 annualized dividend and a dividend yield of 2.41%. Marathon Petroleum’s dividend payout ratio is presently 51.20%.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, Director Evan Bayh acquired 1,000 shares of Marathon Petroleum stock in a transaction dated Wednesday, March 5th. The stock was bought at an average cost of $133.70 per share, for a total transaction of $133,700.00. Following the purchase, the director now directly owns 69,305 shares in the company, valued at approximately $9,266,078.50. This represents a 1.46 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Ricky D. Hessling purchased 2,000 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was bought at an average price of $134.72 per share, with a total value of $269,440.00. Following the completion of the purchase, the insider now owns 12,162 shares of the company’s stock, valued at approximately $1,638,464.64. This represents a 19.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.21% of the company’s stock.

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.