Ontario Teachers Pension Plan Board Takes Position in Marathon Petroleum Corporation (NYSE:MPC)

Key Points

• The Ontario Teachers Pension Plan Board acquired a new stake in Marathon Petroleum Corporation, purchasing 2,820 shares valued at approximately $411,000.
• Marathon Petroleum announced a quarterly dividend of $0.91 per share, translating to an annual yield of 2.3%, set to be paid on September 10th.
• The company reported quarterly earnings of $3.96 per share, surpassing estimates, with revenues at $34.10 billion despite an 11.1% year-over-year decline.

Ontario Teachers Pension Plan Board purchased a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,820 shares of the oil and gas company's stock, valued at approximately $411,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MPC. Demars Financial Group LLC increased its position in shares of Marathon Petroleum by 16,338.3% during the 4th quarter. Demars Financial Group LLC now owns 4,177,133 shares of the oil and gas company's stock valued at $582,710,000 after purchasing an additional 4,151,722 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Marathon Petroleum by 12.3% during the 1st quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company's stock valued at $5,090,611,000 after purchasing an additional 3,834,501 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Marathon Petroleum by 14,969.1% during the 1st quarter. GAMMA Investing LLC now owns 1,540,963 shares of the oil and gas company's stock valued at $224,503,000 after purchasing an additional 1,530,737 shares during the last quarter. Two Sigma Investments LP purchased a new stake in shares of Marathon Petroleum during the 4th quarter valued at about $81,318,000. Finally, Two Sigma Advisers LP purchased a new stake in shares of Marathon Petroleum during the 4th quarter valued at about $71,842,000. Hedge funds and other institutional investors own 76.77% of the company's stock.

Marathon Petroleum Trading Down 0.3%

MPC stock opened at $160.95 on Friday. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year 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 0.73. The company has a market capitalization of $48.93 billion, a price-to-earnings ratio of 23.88, a PEG ratio of 2.80 and a beta of 0.90. The business has a 50 day simple moving average of $169.25 and a two-hundred day simple moving average of $153.74.

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

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Wednesday, August 20th. Marathon Petroleum's dividend payout ratio is currently 54.01%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Mizuho upped their price target on shares of Marathon Petroleum from $168.00 to $184.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. TD Cowen reduced their target price on shares of Marathon Petroleum from $190.00 to $182.00 and set a "buy" rating for the company in a report on Wednesday. Piper Sandler increased their target price on shares of Marathon Petroleum from $175.00 to $182.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Citigroup increased their target price on shares of Marathon Petroleum from $144.00 to $182.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Finally, UBS Group increased their target price on shares of Marathon Petroleum from $175.00 to $203.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $185.29.

Insider Activity at Marathon Petroleum

In other news, Director Kim K.W. Rucker sold 7,392 shares of the stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the completion of the transaction, the director directly owned 18,944 shares in the company, valued at approximately $3,315,200. This represents a 28.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.21% of the company's stock.

Marathon Petroleum Company Profile

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.

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