CIBC Private Wealth Group LLC lifted its stake in shares of Marathon Petroleum Corp (NYSE:MPC) by 7.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,377 shares of the oil and gas company’s stock after acquiring an additional 4,348 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Marathon Petroleum were worth $3,973,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc raised its stake in shares of Marathon Petroleum by 0.7% in the 3rd quarter. Vanguard Group Inc now owns 35,373,004 shares of the oil and gas company’s stock valued at $2,828,779,000 after acquiring an additional 255,599 shares during the period. D.A. Davidson & CO. boosted its holdings in shares of Marathon Petroleum by 8.7% in the 4th quarter. D.A. Davidson & CO. now owns 18,883 shares of the oil and gas company’s stock valued at $1,114,000 after buying an additional 1,519 shares during the period. Deprince Race & Zollo Inc. acquired a new position in shares of Marathon Petroleum in the 4th quarter valued at about $28,588,000. Oppenheimer Asset Management Inc. boosted its holdings in shares of Marathon Petroleum by 2.7% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 50,609 shares of the oil and gas company’s stock valued at $2,988,000 after buying an additional 1,345 shares during the period. Finally, Wedbush Securities Inc. boosted its holdings in shares of Marathon Petroleum by 129.5% in the 4th quarter. Wedbush Securities Inc. now owns 11,338 shares of the oil and gas company’s stock valued at $669,000 after buying an additional 6,397 shares during the period. 77.44% of the stock is currently owned by institutional investors and hedge funds.
Shares of MPC stock traded up $2.82 during trading hours on Wednesday, reaching $54.21. 8,505,852 shares of the stock traded hands, compared to its average volume of 6,960,780. Marathon Petroleum Corp has a 1-year low of $45.47 and a 1-year high of $88.45. The firm has a fifty day moving average of $50.16. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.20 and a quick ratio of 0.55. The firm has a market capitalization of $34.19 billion, a price-to-earnings ratio of 8.00, a PEG ratio of 1.31 and a beta of 1.52.
Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Wednesday, May 8th. The oil and gas company reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.10). Marathon Petroleum had a net margin of 2.56% and a return on equity of 11.10%. The firm had revenue of $28.62 billion for the quarter, compared to analyst estimates of $27.70 billion. During the same quarter in the prior year, the firm earned $0.08 EPS. The firm’s revenue was up 50.7% compared to the same quarter last year. As a group, analysts forecast that Marathon Petroleum Corp will post 4.59 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Thursday, May 16th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date was Wednesday, May 15th. Marathon Petroleum’s payout ratio is presently 31.27%.
MPC has been the subject of a number of research analyst reports. Cowen lowered shares of Marathon Petroleum from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $90.00 to $65.00 in a research note on Friday, May 10th. Credit Suisse Group reduced their price target on shares of Marathon Petroleum from $95.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, May 13th. Royal Bank of Canada reduced their price target on shares of Marathon Petroleum from $71.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. Raymond James reduced their price target on shares of Marathon Petroleum from $90.00 to $85.00 and set a “strong-buy” rating for the company in a research note on Wednesday, April 10th. Finally, Zacks Investment Research downgraded shares of Marathon Petroleum from a “hold” rating to a “strong sell” rating in a report on Friday, May 17th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $85.68.
In other Marathon Petroleum news, Director James E. Rohr bought 12,500 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was bought at an average cost of $48.14 per share, with a total value of $601,750.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Donald C. Templin bought 5,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was acquired at an average cost of $50.74 per share, with a total value of $253,700.00. Following the completion of the transaction, the insider now directly owns 93,182 shares of the company’s stock, valued at $4,728,054.68. The disclosure for this purchase can be found here. Insiders own 1.06% of the company’s stock.
Marathon Petroleum Company Profile
Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing; Retail; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals and trucks that the company owns or operates.
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