OMERS ADMINISTRATION Corp Invests $8.29 Million in Marathon Petroleum Corporation $MPC

Key Points

• OMERS Administration Corp. initiated an $8.29 million position in Marathon Petroleum during the second quarter by purchasing 32,429 shares. Institutional investors and hedge funds collectively own 76.77% of MPC.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $312.50. MPC recently reported quarterly EPS of $17.73, well above the $14.27 consensus estimate, while revenue rose 53.5% year over year.
• MPC shares opened at $362.34, near their 12-month high of $367.60. The company declared a quarterly dividend of $1.00 per share, equivalent to an annualized $4.00 payout and a 1.1% yield.

OMERS ADMINISTRATION Corp bought a new stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 32,429 shares of the oil and gas company's stock, valued at approximately $8,291,000.

Other hedge funds have also bought and sold shares of the company. Solstein Capital LLC acquired a new stake in Marathon Petroleum during the second quarter valued at approximately $26,000. Bell Investment Advisors Inc bought a new stake in shares of Marathon Petroleum in the 2nd quarter valued at approximately $27,000. Navalign LLC acquired a new stake in shares of Marathon Petroleum during the 4th quarter valued at approximately $30,000. Kohmann Bosshard Financial Services LLC bought a new position in Marathon Petroleum during the fourth quarter worth $31,000. Finally, Berbice Capital Management LLC increased its stake in 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 valued at $33,000 after purchasing an additional 100 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Molly R. Benson sold 17,196 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $358.57, for a total value of $6,165,969.72. Following the completion of the transaction, the insider directly owned 30,334 shares in the company, valued at $10,876,862.38. This trade represents a 36.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Michael A. Henschen II sold 6,336 shares of the business's stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total value of $1,703,243.52. Following the sale, the vice president directly owned 16,900 shares in the company, valued at approximately $4,543,058. The trade was a 27.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 26,032 shares of company stock valued at $8,744,213 over the last 90 days. 0.17% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Evercore set a $330.00 price target on shares of Marathon Petroleum in a research report on Wednesday, August 5th. Jefferies Financial Group set a $335.00 price objective on shares of Marathon Petroleum and gave the stock a "buy" rating in a research note on Sunday, July 12th. Raymond James Financial raised their target price on shares of Marathon Petroleum from $300.00 to $335.00 and gave the stock an "outperform" rating in a report on Monday, July 13th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Marathon Petroleum in a report on Friday, June 12th. Finally, Piper Sandler raised their price target on Marathon Petroleum from $343.00 to $344.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Marathon Petroleum currently has an average rating of "Moderate Buy" and a consensus target price of $312.50.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $362.34 on Tuesday. Marathon Petroleum Corporation has a 12-month low of $161.93 and a 12-month high of $367.60. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89. The firm has a market capitalization of $105.78 billion, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 0.23 and a beta of 0.52. The business has a 50 day simple moving average of $299.48 and a 200 day simple moving average of $256.01.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, beating the consensus estimate of $14.27 by $3.46. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The firm had revenue of $51.99 billion for the quarter, compared to the consensus estimate of $40.87 billion. During the same quarter in the previous year, the business earned $3.96 EPS. The firm's revenue for the quarter was up 53.5% on a year-over-year basis. On average, equities research analysts anticipate that Marathon Petroleum Corporation will post 46.66 EPS for the current year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Wednesday, August 19th. Marathon Petroleum's payout ratio is currently 13.75%.

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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