OMERS ADMINISTRATION Corp Acquires 9,886 Shares of Marathon Petroleum Corporation $MPC

Key Points

• OMERS ADMINISTRATION Corp has significantly increased its stake in Marathon Petroleum Corporation by 62.9%, acquiring a total of 25,603 shares valued at approximately $3.73 million.
• Analysts have positive outlooks for Marathon Petroleum, with Wells Fargo raising its price target from $182 to $205 and consensus ratings showing majority support for a "Hold" status with a target price of $185.29.
• Marathon Petroleum recently reported a quarterly earnings per share (EPS) of $3.96, surpassing expectations, and has declared a quarterly dividend of $0.91 per share.

OMERS ADMINISTRATION Corp boosted its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 62.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,603 shares of the oil and gas company's stock after purchasing an additional 9,886 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Marathon Petroleum were worth $3,730,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in MPC. Wealth Preservation Advisors LLC bought a new stake in shares of Marathon Petroleum in the 1st quarter worth approximately $354,000. B. Metzler seel. Sohn & Co. AG lifted its position in shares of Marathon Petroleum by 40.9% in the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 32,993 shares of the oil and gas company's stock worth $4,807,000 after acquiring an additional 9,579 shares during the period. Ieq Capital LLC lifted its position in shares of Marathon Petroleum by 3.5% in the 1st quarter. Ieq Capital LLC now owns 56,240 shares of the oil and gas company's stock worth $8,194,000 after acquiring an additional 1,909 shares during the period. Freedom Investment Management Inc. lifted its position in shares of Marathon Petroleum by 18.3% in the 1st quarter. Freedom Investment Management Inc. now owns 7,451 shares of the oil and gas company's stock worth $1,086,000 after acquiring an additional 1,152 shares during the period. Finally, Southeast Asset Advisors LLC bought a new stake in shares of Marathon Petroleum in the 1st quarter worth approximately $222,000. Institutional investors own 76.77% of the company's stock.

Marathon Petroleum Trading Up 0.0%

Shares of NYSE MPC traded up $0.06 during midday trading on Tuesday, hitting $179.77. The stock had a trading volume of 1,388,352 shares, compared to its average volume of 2,594,698. The company's 50-day simple moving average is $170.70 and its 200 day simple moving average is $155.56. The firm has a market cap of $54.65 billion, a P/E ratio of 26.67, a price-to-earnings-growth ratio of 3.27 and a beta of 0.97. 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 debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, beating the consensus estimate of $3.22 by $0.74. The company had revenue of $34.10 billion during the quarter, compared to analysts' expectations of $31.70 billion. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The business's revenue for the quarter was down 11.1% on a year-over-year basis. During the same period last year, the firm earned $4.12 EPS. Research analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th will be paid 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 2.0%. Marathon Petroleum's payout ratio is 54.01%.

Insiders Place Their Bets

In related news, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock in a transaction on Friday, August 15th. The stock was sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the completion of the sale, the insider directly owned 28,700 shares of the company's stock, valued at $4,678,100. The trade was a 27.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kim K.W. Rucker sold 7,392 shares of Marathon Petroleum stock in a transaction 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 sale, the director directly owned 18,944 shares of the company's stock, valued at approximately $3,315,200. This trade represents a 28.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Barclays raised their target price on Marathon Petroleum from $159.00 to $189.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Wall Street Zen upgraded Marathon Petroleum from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Wells Fargo & Company raised their target price on Marathon Petroleum from $182.00 to $205.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. TD Cowen cut their target price on Marathon Petroleum from $190.00 to $182.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Finally, Dbs Bank upgraded Marathon Petroleum to a "moderate buy" rating in a research report on Monday, July 28th. Eight research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $185.29.

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.