Marathon Petroleum Corporation $MPC Shares Sold by Canada Pension Plan Investment Board
Canada Pension Plan Investment Board reduced its position in Marathon Petroleum Corporation (NYSE:MPC — Free Report) by 6.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,473,085 shares of the oil and gas company’s stock after selling 97,977 shares during the quarter. Canada Pension Plan Investment Board owned about 0.48% of Marathon Petroleum worth $214,614,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in Marathon Petroleum by 12.3% in the 1st quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company’s stock valued at $5,090,611,000 after buying an additional 3,834,501 shares during the last quarter. Wellington Management Group LLP grew its position in Marathon Petroleum by 18.7% in the 1st quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company’s stock valued at $1,722,664,000 after buying an additional 1,862,674 shares during the last quarter. Raymond James Financial Inc. grew its position in Marathon Petroleum by 6.3% in the 1st quarter. Raymond James Financial Inc. now owns 6,037,532 shares of the oil and gas company’s stock valued at $879,608,000 after buying an additional 355,215 shares during the last quarter. Boston Partners grew its position in Marathon Petroleum by 58.5% in the 1st quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company’s stock valued at $791,274,000 after buying an additional 2,011,810 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Marathon Petroleum by 3.7% during the 1st quarter. Bank of New York Mellon Corp now owns 4,982,348 shares of the oil and gas company’s stock worth $725,878,000 after purchasing an additional 178,397 shares in the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts have commented on MPC shares. Wolfe Research lowered shares of Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 14th. Piper Sandler upped their price objective on shares of Marathon Petroleum from $175.00 to $182.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. TD Cowen dropped their price objective on shares of Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. UBS Group boosted their target price on Marathon Petroleum from $175.00 to $203.00 and gave the stock a “buy” rating in a report on Thursday, July 10th. Finally, Citigroup boosted their target price on Marathon Petroleum from $144.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. Eight 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, the company presently has an average rating of “Hold” and a consensus price target of $185.29.
Marathon Petroleum Trading Up 0.7%
NYSE:MPC opened at $179.10 on Friday. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $183.10. The stock 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. The business has a fifty day moving average of $170.22 and a 200-day moving average 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 (NYSE:MPC — Get Free Report) last announced its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share for the quarter, beating the consensus estimate of $3.22 by $0.74. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The business had revenue of $34.10 billion during the quarter, compared to analysts’ expectations of $31.70 billion. During the same quarter last year, the business posted $4.12 earnings per share. The company’s quarterly revenue was down 11.1% on a year-over-year basis. Equities analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.
Marathon Petroleum Announces Dividend
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 $0.91 dividend. The ex-dividend date is Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.0%. Marathon Petroleum’s dividend payout ratio (DPR) is 54.01%.
Insiders Place Their Bets
In related news, Director Kim K.W. Rucker sold 7,392 shares of the stock in a transaction on 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 completion of the transaction, the director owned 18,944 shares in the company, valued at $3,315,200. This trade represents a 28.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Molly R. Benson sold 10,879 shares of the stock in a transaction on 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 transaction, the insider owned 28,700 shares of the company’s stock, valued at $4,678,100. This trade represents a 27.49% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.
Marathon Petroleum 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.
Read More
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Marathon Petroleum, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Marathon Petroleum wasn’t on the list.
While Marathon Petroleum currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report