CIBC Asset Management Inc Buys 27,727 Shares of Marathon Petroleum Corporation $MPC

CIBC Asset Management Inc grew its stake in Marathon Petroleum Corporation (NYSE:MPC) by 59.4% during the 4th quarter, HoldingsChannel reports. The firm owned 74,388 shares of the oil and gas company’s stock after acquiring an additional 27,727 shares during the quarter. CIBC Asset Management Inc’s holdings in Marathon Petroleum were worth $12,098,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Kesler Norman & Wride LLC bought a new stake in shares of Marathon Petroleum in the 4th quarter valued at approximately $783,000. Dynasty Wealth Management LLC grew its stake in shares of Marathon Petroleum by 4.5% in the 4th quarter. Dynasty Wealth Management LLC now owns 17,868 shares of the oil and gas company’s stock valued at $2,906,000 after purchasing an additional 775 shares during the period. Camden National Bank grew its stake in shares of Marathon Petroleum by 11.9% in the 4th quarter. Camden National Bank now owns 2,416 shares of the oil and gas company’s stock valued at $393,000 after purchasing an additional 256 shares during the period. 3Chopt Investment Partners LLC grew its stake in shares of Marathon Petroleum by 3.4% in the 4th quarter. 3Chopt Investment Partners LLC now owns 11,500 shares of the oil and gas company’s stock valued at $1,870,000 after purchasing an additional 381 shares during the period. Finally, AXQ Capital LP bought a new stake in shares of Marathon Petroleum in the 4th quarter valued at approximately $1,990,000. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Price Performance

MPC opened at $262.26 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.18 and a debt-to-equity ratio of 1.31. Marathon Petroleum Corporation has a 12 month low of $158.00 and a 12 month high of $272.46. The company has a fifty day simple moving average of $242.90 and a 200 day simple moving average of $210.01. The stock has a market cap of $76.56 billion, a P/E ratio of 17.12, a P/E/G ratio of 0.43 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.91. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The business had revenue of $34.20 billion during the quarter, compared to analysts’ expectations of $33.42 billion. During the same quarter in the prior year, the company earned ($0.24) EPS. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. On average, research analysts expect that Marathon Petroleum Corporation will post 30.05 EPS for the current year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th will be given a $1.00 dividend. The ex-dividend date is Wednesday, May 20th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.5%. Marathon Petroleum’s dividend payout ratio is currently 26.11%.

Insider Activity at Marathon Petroleum

In related news, insider Ricky D. Hessling sold 1,626 shares of the company’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $228.18, for a total value of $371,020.68. Following the completion of the sale, the insider owned 7,525 shares in the company, valued at $1,717,054.50. This represents a 17.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have sold 4,473 shares of company stock valued at $1,015,428. 0.17% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

MPC has been the topic of several analyst reports. Scotiabank upped their price objective on Marathon Petroleum from $174.00 to $210.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. UBS Group set a $285.00 price objective on Marathon Petroleum in a research note on Wednesday, May 6th. Citigroup boosted their target price on Marathon Petroleum from $243.00 to $257.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Wall Street Zen raised Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 10th. Finally, Jefferies Financial Group boosted their target price on Marathon Petroleum from $279.00 to $296.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $268.50.

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.