Cibc World Market Inc. Sells 3,638 Shares of Marathon Petroleum Corporation $MPC

Cibc World Market Inc. trimmed its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 2.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,240 shares of the oil and gas company’s stock after selling 3,638 shares during the quarter. Cibc World Market Inc.’s holdings in Marathon Petroleum were worth $26,837,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MPC. Delos Wealth Advisors LLC acquired a new position in shares of Marathon Petroleum during the second quarter worth $25,000. Activest Wealth Management increased its holdings in Marathon Petroleum by 290.2% in the 2nd quarter. Activest Wealth Management now owns 160 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 119 shares in the last quarter. NewSquare Capital LLC raised its position in Marathon Petroleum by 103.1% in the second quarter. NewSquare Capital LLC now owns 199 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 101 shares during the last quarter. WFA of San Diego LLC acquired a new stake in shares of Marathon Petroleum during the second quarter valued at about $33,000. Finally, Transce3nd LLC boosted its stake in shares of Marathon Petroleum by 10,250.0% during the second quarter. Transce3nd LLC now owns 207 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 205 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Trading Up 2.1%

NYSE MPC opened at $208.54 on Thursday. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $209.40. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.32 and a quick ratio of 0.79. The business has a 50 day simple moving average of $178.42 and a 200 day simple moving average of $181.82. The stock has a market capitalization of $62.69 billion, a P/E ratio of 15.62, a P/E/G ratio of 1.38 and a beta of 0.74.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, February 3rd. The oil and gas company reported $4.07 earnings per share for the quarter, beating the consensus estimate of $3.73 by $0.34. The company had revenue of $35.10 billion during the quarter, compared to analyst estimates of $30.89 billion. Marathon Petroleum had a net margin of 2.99% and a return on equity of 14.00%. Marathon Petroleum’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.77 EPS. Research analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 18th will be issued a $1.00 dividend. The ex-dividend date is Wednesday, February 18th. This represents a $4.00 annualized dividend and a yield of 1.9%. Marathon Petroleum’s dividend payout ratio is presently 29.96%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MPC shares. Barclays cut their target price on shares of Marathon Petroleum from $202.00 to $194.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 13th. Piper Sandler cut their price target on shares of Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Citigroup increased their price objective on Marathon Petroleum from $182.00 to $210.00 and gave the company a “neutral” rating in a report on Monday. The Goldman Sachs Group lifted their target price on Marathon Petroleum from $204.00 to $211.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Finally, Raymond James Financial increased their price target on Marathon Petroleum from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. Ten research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $202.19.

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.