Marathon Petroleum Co. (NYSE:MPC) Shares Acquired by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board raised its stake in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 306.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,640 shares of the oil and gas company's stock after acquiring an additional 32,144 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Marathon Petroleum were worth $6,326,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Main Street Financial Solutions LLC increased its position in Marathon Petroleum by 163.1% during the 3rd quarter. Main Street Financial Solutions LLC now owns 6,857 shares of the oil and gas company's stock valued at $1,038,000 after purchasing an additional 4,251 shares during the period. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in Marathon Petroleum by 25.0% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 11,510 shares of the oil and gas company's stock valued at $1,742,000 after acquiring an additional 2,300 shares in the last quarter. Larson Financial Group LLC lifted its stake in Marathon Petroleum by 16.8% during the 3rd quarter. Larson Financial Group LLC now owns 2,099 shares of the oil and gas company's stock valued at $318,000 after acquiring an additional 302 shares in the last quarter. Bahl & Gaynor Inc. lifted its stake in Marathon Petroleum by 17.1% during the 3rd quarter. Bahl & Gaynor Inc. now owns 3,861 shares of the oil and gas company's stock valued at $584,000 after acquiring an additional 565 shares in the last quarter. Finally, Fiducient Advisors LLC bought a new position in Marathon Petroleum during the 3rd quarter valued at $785,000. Institutional investors own 76.77% of the company's stock.

Marathon Petroleum Stock Down 0.3 %

Marathon Petroleum stock traded down $0.57 during mid-day trading on Wednesday, hitting $176.01. The company had a trading volume of 2,248,713 shares, compared to its average volume of 2,724,944. The company has a current ratio of 1.43, a quick ratio of 0.99 and a debt-to-equity ratio of 0.85. The stock's 50 day moving average price is $194.73 and its two-hundred day moving average price is $170.71. Marathon Petroleum Co. has a 12 month low of $104.32 and a 12 month high of $221.11. The company has a market capitalization of $62.01 billion, a PE ratio of 8.79, a price-to-earnings-growth ratio of 1.49 and a beta of 1.55.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.53 by $0.25. The firm had revenue of $32.71 billion for the quarter, compared to the consensus estimate of $32.07 billion. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The company's quarterly revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the company posted $6.09 earnings per share. As a group, sell-side analysts anticipate that Marathon Petroleum Co. will post 19.7 earnings per share for the current fiscal year.

Marathon Petroleum announced that its Board of Directors has approved a share repurchase program on Tuesday, April 30th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the oil and gas company to buy up to 7.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its stock is undervalued.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 16th will be issued a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Wednesday, May 15th. Marathon Petroleum's dividend payout ratio is 16.48%.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 1,000 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $170.35, for a total value of $170,350.00. Following the transaction, the director now owns 23,446 shares of the company's stock, valued at $3,994,026.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.21% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

MPC has been the subject of several recent research reports. Piper Sandler decreased their price objective on Marathon Petroleum from $204.00 to $190.00 and set a "neutral" rating for the company in a report on Tuesday, May 14th. The Goldman Sachs Group boosted their target price on Marathon Petroleum from $175.00 to $211.00 and gave the stock a "buy" rating in a research report on Friday, March 22nd. Scotiabank boosted their target price on Marathon Petroleum from $175.00 to $207.00 and gave the stock a "sector outperform" rating in a research report on Thursday, April 11th. Wells Fargo & Company boosted their target price on Marathon Petroleum from $214.00 to $227.00 and gave the stock an "overweight" rating in a research report on Thursday, April 4th. Finally, Bank of America lifted their price target on Marathon Petroleum from $185.00 to $230.00 and gave the stock a "neutral" rating in a research note on Friday, March 15th. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $190.77.

Marathon Petroleum 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.