Canada Pension Plan Investment Board Makes New $130.77 Million Investment in Marathon Petroleum Corporation $MPC

Canada Pension Plan Investment Board acquired a new position in shares of Marathon Petroleum Corporation (NYSE:MPC) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 511,495 shares of the oil and gas company’s stock, valued at approximately $130,774,000. Canada Pension Plan Investment Board owned 0.18% of Marathon Petroleum at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Marathon Petroleum during the second quarter worth $6,648,958,000. Bank of New York Mellon Corp purchased a new position in Marathon Petroleum in the second quarter valued at $1,029,611,000. Norges Bank acquired a new position in shares of Marathon Petroleum in the fourth quarter worth about $472,312,000. Capital Wealth Planning LLC boosted its stake in shares of Marathon Petroleum by 49,392.0% during the 4th quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company’s stock worth $245,157,000 after acquiring an additional 1,495,097 shares in the last quarter. Finally, Legal & General Group Plc purchased a new stake in shares of Marathon Petroleum during the 2nd quarter worth about $380,745,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, insider Molly R. Benson sold 17,196 shares of Marathon Petroleum stock in a transaction on Monday, August 17th. The shares were sold at an average price of $358.57, for a total transaction of $6,165,969.72. Following the sale, the insider owned 30,334 shares of the company’s stock, valued at $10,876,862.38. The trade was a 36.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Shawn M. Lyon sold 2,500 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $350.00, for a total transaction of $875,000.00. Following the sale, the senior vice president directly owned 12,619 shares of the company’s stock, valued at $4,416,650. The trade was a 16.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 26,032 shares of company stock valued at $8,744,213. 0.17% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on MPC shares. UBS Group restated a “buy” rating and issued a $321.00 price target on shares of Marathon Petroleum in a research note on Friday, July 10th. Zacks Research lowered Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 17th. Jefferies Financial Group set a $335.00 price objective on Marathon Petroleum and gave the company a “buy” rating in a research report on Sunday, July 12th. Citigroup upped their target price on Marathon Petroleum from $303.00 to $318.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Marathon Petroleum in a research report on Friday, June 12th. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and a consensus target price of $312.50.

Marathon Petroleum Trading Up 2.2%

Shares of Marathon Petroleum stock opened at $362.70 on Thursday. The company has a current ratio of 1.25, a quick ratio of 0.89 and a debt-to-equity ratio of 1.19. Marathon Petroleum Corporation has a twelve month low of $161.93 and a twelve month high of $367.60. The firm has a market capitalization of $105.89 billion, a PE ratio of 12.47, a P/E/G ratio of 0.23 and a beta of 0.52. The firm’s 50-day moving average price is $303.95 and its 200 day moving average price is $258.31.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, topping the consensus estimate of $14.27 by $3.46. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The company had revenue of $51.99 billion during the quarter, compared to analyst estimates of $40.87 billion. During the same period in the previous year, the business earned $3.96 EPS. Marathon Petroleum’s quarterly revenue was up 53.5% on a year-over-year basis. On average, sell-side analysts predict that Marathon Petroleum Corporation will post 46.66 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, August 19th. Marathon Petroleum’s payout ratio is presently 13.75%.

About Marathon Petroleum

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.