Marathon Petroleum Co. (NYSE:MPC) Shares Purchased by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC raised its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 65.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 137,188 shares of the oil and gas company’s stock after buying an additional 54,125 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Marathon Petroleum were worth $19,526,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of MPC. True Wealth Design LLC increased its position in Marathon Petroleum by 672.7% during the 3rd quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 148 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Marathon Petroleum during the 4th quarter worth about $27,000. Asset Planning Inc purchased a new stake in shares of Marathon Petroleum during the fourth quarter worth about $28,000. Sierra Ocean LLC acquired a new position in shares of Marathon Petroleum in the fourth quarter valued at approximately $31,000. Finally, Cape Investment Advisory Inc. lifted its stake in shares of Marathon Petroleum by 762.9% during the fourth quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company’s stock valued at $42,000 after buying an additional 267 shares during the period. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on MPC. TD Cowen reissued a “buy” rating and set a $170.00 price target on shares of Marathon Petroleum in a research note on Tuesday, December 10th. Piper Sandler reduced their target price on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Raymond James restated a “strong-buy” rating on shares of Marathon Petroleum in a report on Thursday. Mizuho cut their price objective on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Finally, Barclays boosted their target price on shares of Marathon Petroleum from $159.00 to $161.00 and gave the company an “overweight” rating in a report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $180.21.

Marathon Petroleum Stock Up 1.2 %

Shares of Marathon Petroleum stock opened at $145.85 on Tuesday. Marathon Petroleum Co. has a twelve month low of $130.54 and a twelve month high of $221.11. The stock has a market cap of $45.44 billion, a price-to-earnings ratio of 14.69, a price-to-earnings-growth ratio of 3.11 and a beta of 1.39. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. The company has a fifty day moving average price of $148.60 and a 200 day moving average price of $151.35.

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

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th were paid a dividend of $0.91 per share. The ex-dividend date was Wednesday, February 19th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.50%. Marathon Petroleum’s dividend payout ratio is currently 36.66%.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, Director Evan Bayh purchased 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average price of $133.70 per share, for a total transaction of $133,700.00. Following the completion of the purchase, the director now owns 69,305 shares in the company, valued at $9,266,078.50. The trade was a 1.46 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ricky D. Hessling acquired 2,000 shares of the stock in a transaction on Tuesday, March 11th. The shares were acquired at an average price of $134.72 per share, with a total value of $269,440.00. Following the purchase, the insider now owns 12,162 shares in the company, valued at $1,638,464.64. This represents a 19.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.21% of the company’s stock.

Marathon Petroleum Company 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.