Marathon Petroleum Corporation (NYSE:MPC) Shares Bought by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp increased its stake in Marathon Petroleum Corporation by 5.2%, acquiring an additional 1,923 shares and bringing its total holdings to 38,950 shares valued at approximately $5.67 million.
• Marathon Petroleum reported a net revenue of $31.85 billion in its latest quarter, which exceeded analyst estimates, despite a year-over-year revenue decline of 4.1%.
• The company announced a quarterly dividend of $0.91 per share, representing an annual payout of $3.64 and a yield of 2.2%, with a current payout ratio of 51.20%.

Mackenzie Financial Corp boosted its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 5.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,950 shares of the oil and gas company's stock after buying an additional 1,923 shares during the quarter. Mackenzie Financial Corp's holdings in Marathon Petroleum were worth $5,675,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in MPC. Sunpointe LLC lifted its holdings in Marathon Petroleum by 5.1% during the first quarter. Sunpointe LLC now owns 1,681 shares of the oil and gas company's stock valued at $245,000 after purchasing an additional 81 shares in the last quarter. Woodard & Co. Asset Management Group Inc. ADV lifted its holdings in Marathon Petroleum by 2.1% during the first quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 13,124 shares of the oil and gas company's stock valued at $1,912,000 after purchasing an additional 266 shares in the last quarter. Sheaff Brock Investment Advisors LLC lifted its holdings in Marathon Petroleum by 36.4% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 8,078 shares of the oil and gas company's stock valued at $1,177,000 after purchasing an additional 2,157 shares in the last quarter. Shoker Investment Counsel Inc. lifted its holdings in Marathon Petroleum by 1.6% during the first quarter. Shoker Investment Counsel Inc. now owns 32,316 shares of the oil and gas company's stock valued at $4,708,000 after purchasing an additional 494 shares in the last quarter. Finally, Corton Capital Inc. purchased a new position in Marathon Petroleum during the first quarter valued at approximately $250,000. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Price Performance

MPC traded up $2.77 on Monday, hitting $168.30. 2,068,019 shares of the company's stock were exchanged, compared to its average volume of 2,039,764. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $183.10. The company has a current ratio of 1.19, a quick ratio of 0.73 and a debt-to-equity ratio of 1.16. The firm has a 50-day moving average price of $168.81 and a 200-day moving average price of $153.29. The stock has a market cap of $51.70 billion, a price-to-earnings ratio of 23.67, a P/E/G ratio of 2.83 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.16. The firm had revenue of $31.85 billion for the quarter, compared to analyst estimates of $28.91 billion. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. Marathon Petroleum's revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.58 EPS. As a group, equities analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.2%. Marathon Petroleum's payout ratio is currently 51.20%.

Insider Activity at Marathon Petroleum

In related 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 value of $1,293,600.00. Following the completion of the transaction, the director directly owned 18,944 shares of the company's stock, valued at $3,315,200. This represents a 28.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.25% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on MPC shares. Evercore ISI started coverage on shares of Marathon Petroleum in a research note on Wednesday, June 18th. They set an "in-line" rating and a $170.00 price target on the stock. Wells Fargo & Company upped their price target on shares of Marathon Petroleum from $182.00 to $205.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Morgan Stanley upped their price target on shares of Marathon Petroleum from $160.00 to $182.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Scotiabank reaffirmed an "outperform" rating on shares of Marathon Petroleum in a research note on Friday, July 11th. Finally, Citigroup upped their price target on shares of Marathon Petroleum from $144.00 to $182.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, Marathon Petroleum presently has an average rating of "Hold" and an average target price of $183.93.

About Marathon Petroleum

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.