OMERS ADMINISTRATION Corp Purchases 5,029 Shares of Marathon Petroleum Corporation $MPC

Key Points

• OMERS Administration Corp increased its Marathon Petroleum stake by 20.8% in the first quarter, purchasing 5,029 shares and bringing its holdings to 29,191 shares valued at approximately $7.13 million. Institutional investors own 76.77% of MPC.
• Marathon Petroleum reported quarterly EPS of $1.65, beating estimates of $0.74, while revenue rose 8.5% year over year to $34.20 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $298.69.
• The company declared a quarterly dividend of $1.00 per share, or $4.00 annually, representing a 1.3% yield and a 26.11% payout ratio.

OMERS ADMINISTRATION Corp raised its stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 20.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,191 shares of the oil and gas company's stock after purchasing an additional 5,029 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Marathon Petroleum were worth $7,128,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Equitable Trust Co. increased its position in shares of Marathon Petroleum by 1.6% during the first quarter. Equitable Trust Co. now owns 2,637 shares of the oil and gas company's stock valued at $644,000 after buying an additional 42 shares during the period. Bartlett & CO. Wealth Management LLC lifted its holdings in Marathon Petroleum by 0.4% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 9,548 shares of the oil and gas company's stock worth $2,411,000 after buying an additional 42 shares during the period. Hunter Associates Investment Management LLC lifted its holdings in Marathon Petroleum by 1.6% in the first quarter. Hunter Associates Investment Management LLC now owns 3,220 shares of the oil and gas company's stock worth $786,000 after buying an additional 50 shares during the period. Creative Financial Designs Inc. ADV boosted its position in Marathon Petroleum by 2.6% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 2,050 shares of the oil and gas company's stock valued at $333,000 after acquiring an additional 51 shares in the last quarter. Finally, IFG Advisory LLC boosted its position in Marathon Petroleum by 1.5% during the 4th quarter. IFG Advisory LLC now owns 3,429 shares of the oil and gas company's stock valued at $558,000 after acquiring an additional 51 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $309.14 on Monday. Marathon Petroleum Corporation has a one year low of $158.00 and a one year high of $326.92. The company's 50-day moving average is $268.66 and its 200 day moving average is $233.03. The company has a market capitalization of $90.25 billion, a price-to-earnings ratio of 20.18, a price-to-earnings-growth ratio of 0.20 and a beta of 0.52. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.73 and a current ratio of 1.18.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.91. The business had revenue of $34.20 billion during the quarter, compared to analysts' expectations of $33.42 billion. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The business's revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.24) earnings per share. Sell-side analysts expect that Marathon Petroleum Corporation will post 43.19 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $4.00 annualized dividend and a dividend yield of 1.3%. Marathon Petroleum's dividend payout ratio (DPR) is 26.11%.

Analyst Upgrades and Downgrades

MPC has been the subject of several research reports. JPMorgan Chase & Co. increased their target price on Marathon Petroleum from $235.00 to $257.00 in a research report on Wednesday, May 6th. Piper Sandler restated an "overweight" rating and set a $343.00 price target on shares of Marathon Petroleum in a research report on Thursday. Weiss Ratings raised Marathon Petroleum from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, July 6th. Citigroup increased their price objective on Marathon Petroleum from $257.00 to $303.00 and gave the stock a "neutral" rating in a report on Tuesday, July 14th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Marathon Petroleum in a research report on Friday, June 12th. Eleven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $298.69.

Insiders Place Their Bets

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of Marathon Petroleum stock in a transaction 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 completion of the sale, the vice president owned 16,900 shares of the company's stock, valued at approximately $4,543,058. This trade represents a 27.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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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