Mackenzie Financial Corp Buys 1,923 Shares of Marathon Petroleum Corporation (NYSE:MPC)

Mackenzie Financial Corp increased its stake in shares of Marathon Petroleum Corporation (NYSE:MPC — Free Report) by 5.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,950 shares of the oil and gas company’s stock after acquiring an additional 1,923 shares during the quarter. Mackenzie Financial Corp’s holdings in Marathon Petroleum were worth $5,675,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of MPC. Fourth Dimension Wealth LLC acquired a new position in Marathon Petroleum during the fourth quarter worth $26,000. CBIZ Investment Advisory Services LLC raised its holdings in Marathon Petroleum by 1,546.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company’s stock worth $31,000 after buying an additional 201 shares during the last quarter. Hughes Financial Services LLC acquired a new position in Marathon Petroleum during the first quarter worth $32,000. Decker Retirement Planning Inc. raised its holdings in Marathon Petroleum by 1,621.4% during the first quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company’s stock worth $35,000 after buying an additional 227 shares during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC acquired a new position in Marathon Petroleum during the first quarter worth $35,000. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Price Performance

MPC opened at $165.47 on Friday. The firm has a market cap of $50.83 billion, a P/E ratio of 23.27, a PEG ratio of 2.91 and a beta of 0.88. The firm has a 50-day moving average of $168.81 and a 200 day moving average of $153.27. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.73 and a current ratio of 1.19. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $183.10.

Marathon Petroleum (NYSE:MPC — Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.16. The company had revenue of $31.85 billion during the quarter, compared to analyst estimates of $28.91 billion. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.58 earnings per share. On average, research analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th will be given a dividend of $0.91 per share. The ex-dividend date is Wednesday, August 20th. This represents a $3.64 annualized dividend and a yield of 2.2%. Marathon Petroleum’s dividend payout ratio is presently 51.20%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Wolfe Research downgraded shares of Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a report on Monday, July 14th. TD Cowen upped their price objective on shares of Marathon Petroleum from $152.00 to $163.00 and gave the stock a “buy” rating in a report on Tuesday, June 10th. Scotiabank restated an “outperform” rating on shares of Marathon Petroleum in a report on Friday, July 11th. Citigroup increased their target price on shares of Marathon Petroleum from $144.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, July 16th. Finally, Evercore ISI began coverage on shares of Marathon Petroleum in a report on Wednesday, June 18th. They issued an “in-line” rating and a $170.00 target price for the company. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $183.93.

Check Out Our Latest Stock Report on Marathon Petroleum

Insiders Place Their Bets

In related news, Director Kim K.W. Rucker sold 7,392 shares of the stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the completion of the transaction, the director owned 18,944 shares in the company, valued at approximately $3,315,200. This represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.21% of the company’s stock.

About Marathon Petroleum

(Free Report)

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.

Featured Stories

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