iA Global Asset Management Inc. Makes New Investment in Marathon Petroleum Corporation (NYSE:MPC)

Key Points

• iA Global Asset Management Inc. has made a new investment in Marathon Petroleum Corporation, acquiring 13,262 shares valued at approximately $1.93 million.
• Major analysts have revised their price targets for Marathon Petroleum, with estimates now ranging from $200 to $205, indicating strong future growth potential.
• The company recently announced a quarterly dividend of $0.91 per share, translating to an annualized dividend yield of 2.2%.

iA Global Asset Management Inc. acquired a new stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 13,262 shares of the oil and gas company's stock, valued at approximately $1,932,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Good Steward Wealth Advisors LLC bought a new stake in shares of Marathon Petroleum in the first quarter valued at $346,000. Silver Oak Securities Incorporated purchased a new position in shares of Marathon Petroleum in the first quarter valued at $339,000. Financial Partners Group LLC grew its position in shares of Marathon Petroleum by 65.8% in the first quarter. Financial Partners Group LLC now owns 3,937 shares of the oil and gas company's stock valued at $574,000 after purchasing an additional 1,563 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of Marathon Petroleum by 8.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 44,387 shares of the oil and gas company's stock valued at $6,467,000 after purchasing an additional 3,291 shares in the last quarter. Finally, Weatherly Asset Management L. P. purchased a new position in shares of Marathon Petroleum in the first quarter valued at $216,000. Institutional investors and hedge funds own 76.77% of the company's stock.

Marathon Petroleum Trading Down 0.3%

Shares of NYSE MPC traded down $0.56 during midday trading on Friday, reaching $160.95. The company had a trading volume of 1,278,171 shares, compared to its average volume of 1,963,470. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $183.10. The company has a quick ratio of 0.73, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. The firm's fifty day moving average price is $169.25 and its 200-day moving average price is $153.70. The stock has a market cap of $48.93 billion, a PE ratio of 23.88, a price-to-earnings-growth ratio of 2.81 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, beating analysts' consensus estimates of $3.22 by $0.74. The business had revenue of $34.10 billion during the quarter, compared to analyst estimates of $31.70 billion. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%. Marathon Petroleum's quarterly revenue was down 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.12 EPS. On average, equities research analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th will be issued a dividend of $0.91 per share. The ex-dividend date is Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.3%. Marathon Petroleum's dividend payout ratio is 54.01%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MPC shares. Scotiabank reiterated an "outperform" rating on shares of Marathon Petroleum in a research report on Friday, July 11th. Barclays lifted their price target on Marathon Petroleum from $159.00 to $189.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Wolfe Research cut Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a research report on Monday, July 14th. Wall Street Zen upgraded Marathon Petroleum from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Dbs Bank upgraded Marathon Petroleum to a "moderate buy" rating in a research report on Monday, July 28th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $185.29.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 7,392 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the transaction, the director owned 18,944 shares in the company, valued at approximately $3,315,200. This represents a 28.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.21% of the company's stock.

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.