Cibc World Market Inc. Makes New Investment in Marathon Petroleum Corporation $MPC

Cibc World Market Inc. bought a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 183,341 shares of the oil and gas company’s stock, valued at approximately $46,875,000.

Several other hedge funds also recently modified their holdings of MPC. OMERS ADMINISTRATION Corp acquired a new stake in shares of Marathon Petroleum during the 2nd quarter worth approximately $8,291,000. Osmosis Investment Management UK Ltd acquired a new position in Marathon Petroleum in the second quarter valued at approximately $1,179,000. Sanctuary Advisors LLC bought a new position in Marathon Petroleum in the second quarter valued at approximately $23,456,000. Saranac Partners Ltd bought a new position in Marathon Petroleum in the second quarter valued at approximately $467,000. Finally, Solstein Capital LLC acquired a new stake in Marathon Petroleum during the 2nd quarter worth $26,000. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Trading Up 0.4%

MPC opened at $362.18 on Monday. The firm’s fifty day moving average is $297.25 and its two-hundred day moving average is $254.78. The firm has a market cap of $105.73 billion, a PE ratio of 12.45, a price-to-earnings-growth ratio of 0.23 and a beta of 0.52. Marathon Petroleum Corporation has a twelve month low of $161.93 and a twelve month high of $367.60. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.89 and a current ratio of 1.25.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $14.27 by $3.46. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The company had revenue of $51.99 billion during the quarter, compared to analyst estimates of $40.87 billion. During the same quarter in the previous year, the business earned $3.96 EPS. The firm’s revenue was up 53.5% on a year-over-year basis. Equities research analysts anticipate that Marathon Petroleum Corporation will post 46.66 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 19th. Marathon Petroleum’s payout ratio is presently 13.75%.

Insider Transactions at Marathon Petroleum

In other news, SVP Shawn M. Lyon sold 2,500 shares of Marathon Petroleum stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $350.00, for a total transaction of $875,000.00. Following the transaction, the senior vice president owned 12,619 shares in the company, valued at $4,416,650. The trade was a 16.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Michael A. Henschen II sold 6,336 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total value of $1,703,243.52. Following the completion of the transaction, the vice president owned 16,900 shares of the company’s stock, valued at $4,543,058. This represents a 27.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.17% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have commented on MPC. JPMorgan Chase & Co. upped their target price on shares of Marathon Petroleum from $235.00 to $257.00 in a research report on Wednesday, May 6th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Marathon Petroleum in a research note on Friday, June 12th. TD Cowen upped their price objective on Marathon Petroleum from $357.00 to $375.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Wall Street Zen raised Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 10th. Finally, Evercore set a $330.00 target price on Marathon Petroleum in a report on Wednesday, August 5th. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $312.50.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.