Marathon Petroleum Corporation $MPC Stock Holdings Increased by CIBC Asset Management Inc

CIBC Asset Management Inc raised its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 59.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,388 shares of the oil and gas company’s stock after acquiring an additional 27,727 shares during the period. CIBC Asset Management Inc’s holdings in Marathon Petroleum were worth $12,098,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in MPC. Brighton Jones LLC grew its holdings in shares of Marathon Petroleum by 30.9% in the 4th quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock worth $696,000 after acquiring an additional 1,178 shares during the last quarter. Woodline Partners LP grew its holdings in shares of Marathon Petroleum by 38.3% in the 1st quarter. Woodline Partners LP now owns 26,697 shares of the oil and gas company’s stock worth $3,889,000 after acquiring an additional 7,396 shares during the last quarter. Sivia Capital Partners LLC grew its holdings in shares of Marathon Petroleum by 26.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,221 shares of the oil and gas company’s stock worth $369,000 after acquiring an additional 466 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Marathon Petroleum in the 2nd quarter worth $8,505,000. Finally, AXA S.A. grew its holdings in shares of Marathon Petroleum by 46.7% in the 2nd quarter. AXA S.A. now owns 39,675 shares of the oil and gas company’s stock worth $6,590,000 after acquiring an additional 12,639 shares during the last quarter. Institutional investors own 76.77% of the company’s stock.

Insider Buying and Selling at Marathon Petroleum

In related news, insider Ricky D. Hessling sold 1,810 shares of the business’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $224.78, for a total transaction of $406,851.80. Following the completion of the transaction, the insider owned 10,188 shares of the company’s stock, valued at approximately $2,290,058.64. The trade was a 15.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders sold 4,473 shares of company stock worth $1,015,428. 0.17% of the stock is currently owned by insiders.

Marathon Petroleum Price Performance

NYSE MPC opened at $262.26 on Friday. Marathon Petroleum Corporation has a twelve month low of $158.00 and a twelve month high of $272.46. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.73 and a current ratio of 1.18. The stock has a market capitalization of $76.56 billion, a PE ratio of 17.12, a P/E/G ratio of 0.43 and a beta of 0.52. The stock has a 50-day simple moving average of $242.90 and a 200 day simple moving average of $210.01.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.91. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The business had revenue of $34.20 billion during the quarter, compared to analysts’ expectations of $33.42 billion. During the same quarter in the previous year, the firm earned ($0.24) EPS. The firm’s revenue was up 8.5% compared to the same quarter last year. Research analysts anticipate that Marathon Petroleum Corporation will post 30.05 EPS for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Wednesday, May 20th. Marathon Petroleum’s payout ratio is currently 26.11%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. TD Cowen lifted their target price on Marathon Petroleum to $320.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Bank of America lifted their target price on Marathon Petroleum from $224.00 to $260.00 in a report on Tuesday, May 26th. Citigroup lifted their target price on Marathon Petroleum from $243.00 to $257.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Jefferies Financial Group lifted their target price on Marathon Petroleum from $279.00 to $296.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Finally, Wells Fargo & Company lifted their target price on Marathon Petroleum to $335.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, Marathon Petroleum has a consensus rating of “Moderate Buy” and a consensus price target of $268.50.

Marathon Petroleum 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.