Marathon Petroleum Corporation $MPC Shares Bought by Bank of Nova Scotia

Bank of Nova Scotia boosted its stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 24.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 255,892 shares of the oil and gas company's stock after buying an additional 50,194 shares during the quarter. Bank of Nova Scotia owned 0.09% of Marathon Petroleum worth $62,484,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Main Street Group LTD acquired a new position in shares of Marathon Petroleum during the 1st quarter worth about $35,000. Cedar Mountain Advisors LLC acquired a new position in Marathon Petroleum during the first quarter worth approximately $40,000. Navalign LLC purchased a new stake in Marathon Petroleum in the fourth quarter valued at approximately $30,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Marathon Petroleum during the fourth quarter worth about $31,000. Finally, Berbice Capital Management LLC lifted its holdings in shares of Marathon Petroleum by 100.0% during the fourth quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company's stock worth $33,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 76.77% of the company's stock.

Marathon Petroleum Price Performance

Shares of NYSE MPC opened at $309.14 on Friday. Marathon Petroleum Corporation has a fifty-two week low of $158.00 and a fifty-two week high of $326.92. The stock has a market cap of $90.25 billion, a P/E ratio of 20.18, a P/E/G ratio of 0.21 and a beta of 0.52. The firm's 50-day simple moving average is $268.66 and its 200 day simple moving average is $232.62. 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 (NYSE:MPC - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.91. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The company had revenue of $34.20 billion during the quarter, compared to analyst estimates of $33.42 billion. During the same quarter last year, the firm posted ($0.24) EPS. The business's revenue for the quarter was up 8.5% on a year-over-year basis. Equities analysts expect that Marathon Petroleum Corporation will post 40.64 EPS for the current year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 1.3%. The ex-dividend date was Wednesday, May 20th. Marathon Petroleum's dividend payout ratio is currently 26.11%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Morgan Stanley increased their price objective on Marathon Petroleum from $233.00 to $265.00 and gave the stock an "overweight" rating in a research report on Friday, June 12th. Raymond James Financial upped their target price on shares of Marathon Petroleum from $300.00 to $335.00 and gave the company an "outperform" rating in a report on Monday, July 13th. Jefferies Financial Group set a $335.00 price target on Marathon Petroleum and gave the company a "buy" rating in a report on Sunday, July 12th. Weiss Ratings upgraded shares of Marathon Petroleum from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, July 6th. Finally, Mizuho boosted their price target on Marathon Petroleum from $224.00 to $284.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 27th. Eleven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $298.69.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total value of $1,703,243.52. Following the completion of the sale, the vice president owned 16,900 shares in the company, valued at $4,543,058. This represents a 27.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is currently owned by insiders.

Marathon Petroleum Company Profile

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.

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