Investment Management Corp of Ontario Has $3.77 Million Holdings in Marathon Petroleum Co. (NYSE:MPC)

Investment Management Corp of Ontario decreased its holdings in Marathon Petroleum Co. (NYSE:MPC) by 26.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,009 shares of the oil and gas company’s stock after selling 9,651 shares during the quarter. Investment Management Corp of Ontario’s holdings in Marathon Petroleum were worth $3,768,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MPC. Wellington Management Group LLP raised its stake in Marathon Petroleum by 78.1% in the fourth quarter. Wellington Management Group LLP now owns 9,961,503 shares of the oil and gas company’s stock valued at $1,389,630,000 after purchasing an additional 4,367,774 shares in the last quarter. Demars Financial Group LLC boosted its position in shares of Marathon Petroleum by 16,338.3% during the 4th quarter. Demars Financial Group LLC now owns 4,177,133 shares of the oil and gas company’s stock worth $582,710,000 after acquiring an additional 4,151,722 shares in the last quarter. Norges Bank acquired a new stake in shares of Marathon Petroleum during the 4th quarter worth approximately $453,427,000. Boston Partners raised its position in Marathon Petroleum by 37.4% during the fourth quarter. Boston Partners now owns 3,436,704 shares of the oil and gas company’s stock valued at $480,501,000 after purchasing an additional 935,042 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its stake in Marathon Petroleum by 22.3% during the fourth 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. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

NYSE:MPC opened at $150.90 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. Marathon Petroleum Co. has a fifty-two week low of $115.10 and a fifty-two week high of $183.31. The company has a 50 day simple moving average of $137.10 and a two-hundred day simple moving average of $145.10. The company has a market capitalization of $46.36 billion, a PE ratio of 15.20, a P/E/G ratio of 3.11 and a beta of 0.87.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.16. The business had revenue of $31.85 billion for the quarter, compared to analysts’ expectations of $28.91 billion. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.58 earnings per share. Research analysts anticipate that Marathon Petroleum Co. will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be paid a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Wednesday, May 21st. Marathon Petroleum’s dividend payout ratio (DPR) is presently 51.20%.

Insiders Place Their Bets

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

Analysts Set New Price Targets

MPC has been the topic of several recent analyst reports. Morgan Stanley decreased their price target on Marathon Petroleum from $175.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Tudor Pickering raised Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 4th. Raymond James dropped their target price on shares of Marathon Petroleum from $193.00 to $183.00 and set a “strong-buy” rating for the company in a report on Wednesday, April 9th. Barclays lowered their price objective on shares of Marathon Petroleum from $161.00 to $141.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Finally, Wells Fargo & Company cut their target price on shares of Marathon Petroleum from $185.00 to $175.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $172.93.

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.