Marathon Petroleum Co. (NYSE:MPC) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc raised its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 0.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 53,788 shares of the oil and gas company’s stock after purchasing an additional 217 shares during the quarter. CIBC Asset Management Inc’s holdings in Marathon Petroleum were worth $7,503,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP boosted its stake in Marathon Petroleum by 342.1% during the third quarter. Wellington Management Group LLP now owns 5,593,729 shares of the oil and gas company’s stock valued at $911,274,000 after buying an additional 4,328,470 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Marathon Petroleum by 19,153.8% in the 3rd quarter. International Assets Investment Management LLC now owns 1,311,182 shares of the oil and gas company’s stock valued at $213,605,000 after acquiring an additional 1,304,372 shares during the last quarter. ING Groep NV bought a new position in shares of Marathon Petroleum during the 3rd quarter valued at about $114,107,000. Pacer Advisors Inc. grew its stake in shares of Marathon Petroleum by 22.3% in the 4th quarter. Pacer Advisors Inc. now owns 3,552,655 shares of the oil and gas company’s stock worth $495,595,000 after purchasing an additional 647,045 shares during the last quarter. Finally, National Bank of Canada FI raised its holdings in shares of Marathon Petroleum by 212.9% in the 3rd quarter. National Bank of Canada FI now owns 846,756 shares of the oil and gas company’s stock worth $137,945,000 after purchasing an additional 576,119 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Tudor Pickering upgraded shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Mizuho decreased their price objective on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Barclays cut their target price on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. TD Cowen reaffirmed a “buy” rating and issued a $170.00 target price on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Finally, Raymond James upped their price target on Marathon Petroleum from $190.00 to $192.00 and gave the company a “strong-buy” rating in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $181.27.

Marathon Petroleum Stock Performance

MPC stock opened at $156.79 on Thursday. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. Marathon Petroleum Co. has a 12 month low of $130.54 and a 12 month high of $221.11. The firm has a 50 day moving average of $146.32 and a two-hundred day moving average of $156.63. The company has a market capitalization of $50.39 billion, a price-to-earnings ratio of 15.79, a P/E/G ratio of 3.07 and a beta of 1.41.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.71. The company had revenue of $33.47 billion during the quarter, compared to analysts’ expectations of $31.94 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The business’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.98 earnings per share. As a group, equities analysts anticipate that Marathon Petroleum Co. will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 19th will be issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 2.32%. The ex-dividend date is Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio is currently 36.66%.

Marathon Petroleum announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, November 5th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the oil and gas company to reacquire up to 10% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Marathon Petroleum

In other news, Director Jeffrey C. Campbell bought 6,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was purchased at an average price of $149.61 per share, with a total value of $897,660.00. Following the transaction, the director now directly owns 6,090 shares in the company, valued at approximately $911,124.90. The trade was a 6,666.67 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.21% of the stock is currently owned by company 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.