Marathon Petroleum Co. (NYSE:MPC) Stake Lessened by Mackenzie Financial Corp

Mackenzie Financial Corp reduced its holdings in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 39.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,027 shares of the oil and gas company's stock after selling 24,103 shares during the quarter. Mackenzie Financial Corp's holdings in Marathon Petroleum were worth $5,165,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Michels Family Financial LLC acquired a new stake in shares of Marathon Petroleum in the 4th quarter valued at approximately $279,000. Toronto Dominion Bank lifted its holdings in shares of Marathon Petroleum by 3.7% in the 4th quarter. Toronto Dominion Bank now owns 173,830 shares of the oil and gas company's stock valued at $24,249,000 after buying an additional 6,159 shares during the period. Retirement Planning Group LLC NY acquired a new stake in shares of Marathon Petroleum in the 4th quarter valued at approximately $285,000. GF Fund Management CO. LTD. acquired a new stake in shares of Marathon Petroleum in the 4th quarter valued at approximately $12,226,000. Finally, CTC Alternative Strategies Ltd. raised its holdings in Marathon Petroleum by 21.2% during the fourth quarter. CTC Alternative Strategies Ltd. now owns 1,575 shares of the oil and gas company's stock worth $220,000 after purchasing an additional 275 shares during the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Morgan Stanley reduced their price objective on Marathon Petroleum from $175.00 to $160.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Piper Sandler reduced their price objective on Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating for the company in a report on Friday, March 7th. TD Cowen lifted their price objective on Marathon Petroleum from $142.00 to $152.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Barclays lifted their price objective on Marathon Petroleum from $141.00 to $159.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. Finally, Wall Street Zen raised Marathon Petroleum from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $175.29.

Marathon Petroleum Stock Down 1.4%

Shares of MPC traded down $2.19 during midday trading on Monday, reaching $158.55. 2,960,483 shares of the company were exchanged, compared to its average volume of 2,706,986. The stock has a 50-day moving average price of $142.80 and a 200-day moving average price of $146.07. The company has a market cap of $48.71 billion, a price-to-earnings ratio of 15.97, a P/E/G ratio of 3.11 and a beta of 0.87. Marathon Petroleum Co. has a 1-year low of $115.10 and a 1-year high of $183.31. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94.

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) EPS for the quarter, topping analysts' consensus estimates of ($0.40) by $0.16. The company had revenue of $31.85 billion for the quarter, compared to analysts' expectations of $28.91 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The firm's quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.58 earnings per share. Research analysts expect that Marathon Petroleum Co. will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Wednesday, May 21st. Marathon Petroleum's dividend payout ratio is currently 51.20%.

Insider Activity at Marathon Petroleum

In other news, Director Evan Bayh acquired 1,000 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were purchased at an average price of $133.70 per share, for a total transaction of $133,700.00. Following the completion of the purchase, the director now directly owns 69,305 shares of the company's stock, valued at $9,266,078.50. This represents a 1.46% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ricky D. Hessling acquired 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average cost of $134.72 per share, with a total value of $269,440.00. Following the completion of the acquisition, the insider now directly owns 12,162 shares in the company, valued at approximately $1,638,464.64. This represents a 19.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.21% of the stock is currently owned by company insiders.

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.