CIBC Asset Management Inc Has $7.50 Million Stake in Marathon Petroleum Co. (NYSE:MPC)

CIBC Asset Management Inc increased its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 0.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,788 shares of the oil and gas company’s stock after purchasing an additional 217 shares during the period. CIBC Asset Management Inc’s holdings in Marathon Petroleum were worth $7,503,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of MPC. Gladius Capital Management LP acquired a new stake in shares of Marathon Petroleum during the 3rd quarter valued at about $26,000. MeadowBrook Investment Advisors LLC boosted its holdings in Marathon Petroleum by 88.9% during the third quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 80 shares in the last quarter. True Wealth Design LLC raised its holdings in shares of Marathon Petroleum by 672.7% in the 3rd quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after buying an additional 148 shares in the last quarter. Asset Planning Inc bought a new position in shares of Marathon Petroleum during the 4th quarter worth approximately $28,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in Marathon Petroleum in the 3rd quarter valued at $30,000. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Trading Down 1.4 %

Shares of NYSE MPC opened at $156.79 on Thursday. Marathon Petroleum Co. has a fifty-two week low of $130.54 and a fifty-two week high of $221.11. The firm has a market capitalization of $50.39 billion, a P/E ratio of 15.79, a P/E/G ratio of 3.07 and a beta of 1.41. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. The company’s 50 day simple moving average is $146.32 and its 200 day simple moving average is $156.63.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.71. The business had revenue of $33.47 billion for the quarter, compared to analyst estimates of $31.94 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The firm’s revenue was down 9.1% on a year-over-year basis. During the same period last year, the company earned $3.98 EPS. On average, analysts predict that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, November 5th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the oil and gas company to buy up to 10% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th will be paid a $0.91 dividend. The ex-dividend date is Wednesday, February 19th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.32%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 36.66%.

Insider Activity at Marathon Petroleum

In other news, Director Jeffrey C. Campbell acquired 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was purchased at an average price of $149.61 per share, for a total transaction of $897,660.00. Following the completion of the acquisition, the director now owns 6,090 shares in the company, valued at $911,124.90. This trade represents a 6,666.67 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.21% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MPC. Raymond James lifted their price objective on Marathon Petroleum from $190.00 to $192.00 and gave the company a “strong-buy” rating in a report on Friday, January 17th. Barclays cut their price target on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Mizuho cut their target price on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. TD Cowen restated a “buy” rating and set a $170.00 price target on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company lifted their price objective on Marathon Petroleum from $182.00 to $183.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $181.27.

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.