Cibc World Markets Corp Raises Position in Marathon Petroleum Co. (NYSE:MPC)

Cibc World Markets Corp lifted its stake in Marathon Petroleum Co. (NYSE:MPC) by 382.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 223,913 shares of the oil and gas company’s stock after buying an additional 177,480 shares during the period. Cibc World Markets Corp owned approximately 0.07% of Marathon Petroleum worth $31,236,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. SWS Partners boosted its position in shares of Marathon Petroleum by 19.0% in the fourth quarter. SWS Partners now owns 17,577 shares of the oil and gas company’s stock worth $2,452,000 after buying an additional 2,806 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Marathon Petroleum by 1,204.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 543,062 shares of the oil and gas company’s stock worth $75,757,000 after buying an additional 501,441 shares during the period. Wilmington Savings Fund Society FSB boosted its position in shares of Marathon Petroleum by 747.3% in the third quarter. Wilmington Savings Fund Society FSB now owns 21,275 shares of the oil and gas company’s stock worth $3,466,000 after buying an additional 18,764 shares during the period. World Investment Advisors LLC boosted its position in shares of Marathon Petroleum by 4,227.5% in the third quarter. World Investment Advisors LLC now owns 69,759 shares of the oil and gas company’s stock worth $11,364,000 after buying an additional 68,147 shares during the period. Finally, Nilsine Partners LLC boosted its position in shares of Marathon Petroleum by 5.6% in the fourth quarter. Nilsine Partners LLC now owns 32,683 shares of the oil and gas company’s stock worth $4,559,000 after buying an additional 1,746 shares during the period. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on MPC. Wells Fargo & Company upped their target price on Marathon Petroleum from $182.00 to $183.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Piper Sandler cut their price target on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Raymond James boosted their price target on Marathon Petroleum from $190.00 to $192.00 and gave the stock a “strong-buy” rating in a research note on Friday, January 17th. Tudor Pickering upgraded Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 4th. Finally, Mizuho cut their price target on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $182.13.

Marathon Petroleum Trading Up 3.1 %

Marathon Petroleum stock opened at $141.23 on Monday. The firm’s 50-day moving average is $148.36 and its 200-day moving average is $152.93. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. Marathon Petroleum Co. has a 1 year low of $130.54 and a 1 year high of $221.11. The company has a market cap of $44.00 billion, a P/E ratio of 14.22, a PEG ratio of 3.11 and a beta of 1.39.

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

Marathon Petroleum Dividend Announcement

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

Insider Activity at Marathon Petroleum

In related news, Director Evan Bayh bought 1,000 shares of the stock in a transaction on Wednesday, March 5th. The shares were purchased at an average price of $133.70 per share, with a total value of $133,700.00. Following the purchase, the director now owns 69,305 shares in the company, valued at approximately $9,266,078.50. This represents a 1.46 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ricky D. Hessling bought 2,000 shares of the stock in a transaction on Tuesday, March 11th. The shares were bought at an average cost of $134.72 per share, for a total transaction of $269,440.00. Following the purchase, the insider now owns 12,162 shares in the company, valued at $1,638,464.64. This trade represents a 19.68 % increase in their position. The disclosure for this purchase can be found here. 0.21% of the stock is currently owned by insiders.

About Marathon Petroleum

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.