Marathon Petroleum Corporation $MPC Stock Position Decreased by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board cut its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 6.2% in the first quarter, Holdings Channel reports. The firm owned 1,473,085 shares of the oil and gas company’s stock after selling 97,977 shares during the period. Canada Pension Plan Investment Board’s holdings in Marathon Petroleum were worth $214,614,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MPC. Fourth Dimension Wealth LLC purchased a new stake in shares of Marathon Petroleum during the 4th quarter worth about $26,000. CBIZ Investment Advisory Services LLC increased its holdings in shares of Marathon Petroleum by 1,546.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 201 shares during the last quarter. Hughes Financial Services LLC acquired a new position in shares of Marathon Petroleum during the 1st quarter valued at about $32,000. WPG Advisers LLC acquired a new position in shares of Marathon Petroleum during the 1st quarter valued at about $32,000. Finally, Decker Retirement Planning Inc. grew its holdings in Marathon Petroleum by 1,621.4% in the 1st quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company’s stock valued at $35,000 after buying an additional 227 shares during the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on MPC. Scotiabank reaffirmed an “outperform” rating on shares of Marathon Petroleum in a report on Friday, July 11th. Wolfe Research lowered Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a report on Monday, July 14th. Citigroup raised their target price on Marathon Petroleum from $144.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, July 16th. TD Cowen lowered their target price on Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Finally, Wall Street Zen raised Marathon Petroleum from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Eight equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $185.29.

Insider Transactions at Marathon Petroleum

In other news, Director Kim K.W. Rucker sold 7,392 shares of the business’s stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total value of $1,293,600.00. Following the sale, the director directly owned 18,944 shares in the company, valued at $3,315,200. The trade was a 28.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Molly R. Benson sold 10,879 shares of the business’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $163.00, for a total value of $1,773,277.00. Following the completion of the sale, 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 disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

Marathon Petroleum Trading Up 0.7%

Shares of MPC opened at $179.10 on Friday. The stock has a fifty day moving average price of $170.22 and a two-hundred day moving average price of $155.17. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $183.10. The company has a market cap of $54.45 billion, a price-to-earnings ratio of 26.57, a PEG ratio of 3.23 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share for the quarter, topping analysts’ consensus estimates of $3.22 by $0.74. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The company had revenue of $34.10 billion during the quarter, compared to the consensus estimate of $31.70 billion. During the same quarter in the previous year, the company posted $4.12 earnings per share. The firm’s quarterly revenue was down 11.1% on a year-over-year basis. Analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Wednesday, August 20th. Marathon Petroleum’s payout ratio is presently 54.01%.

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.