CIBC Bancorp USA Inc. Takes Position in Marathon Petroleum Corporation $MPC

CIBC Bancorp USA Inc. acquired a new position in shares of Marathon Petroleum Corporation (NYSE:MPC) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 42,058 shares of the oil and gas company’s stock, valued at approximately $8,106,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of MPC. Brighton Jones LLC boosted its position in Marathon Petroleum by 30.9% during the 4th quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock worth $696,000 after acquiring an additional 1,178 shares during the last quarter. Woodline Partners LP grew its stake in shares of Marathon Petroleum by 38.3% during the 1st quarter. Woodline Partners LP now owns 26,697 shares of the oil and gas company’s stock worth $3,889,000 after acquiring an additional 7,396 shares in the last quarter. Sivia Capital Partners LLC raised its holdings in shares of Marathon Petroleum by 26.6% in the second quarter. Sivia Capital Partners LLC now owns 2,221 shares of the oil and gas company’s stock valued at $369,000 after purchasing an additional 466 shares during the last quarter. GDS Wealth Management bought a new stake in shares of Marathon Petroleum in the second quarter worth $205,000. Finally, Dynamic Technology Lab Private Ltd lifted its position in shares of Marathon Petroleum by 32.1% in the second quarter. Dynamic Technology Lab Private Ltd now owns 4,081 shares of the oil and gas company’s stock worth $678,000 after purchasing an additional 991 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of Marathon Petroleum stock opened at $232.91 on Friday. The business’s fifty day simple moving average is $199.02 and its 200 day simple moving average is $190.07. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 1.27. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $242.98. The firm has a market capitalization of $68.59 billion, a P/E ratio of 17.45, a price-to-earnings-growth ratio of 1.41 and a beta of 0.69.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, February 3rd. The oil and gas company reported $4.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.73 by $0.34. The firm had revenue of $32.57 billion during the quarter, compared to analyst estimates of $30.89 billion. Marathon Petroleum had a return on equity of 13.90% and a net margin of 2.99%.The business’s revenue was down .1% compared to the same quarter last year. During the same period last year, the firm posted $0.77 EPS. As a group, analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Wednesday, February 18th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Wednesday, February 18th. Marathon Petroleum’s dividend payout ratio (DPR) is 29.96%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MPC. Jefferies Financial Group decreased their target price on shares of Marathon Petroleum from $216.00 to $205.00 and set a “buy” rating for the company in a research report on Monday, January 26th. Wells Fargo & Company increased their price objective on shares of Marathon Petroleum from $213.00 to $217.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 4th. The Goldman Sachs Group raised their price objective on Marathon Petroleum from $211.00 to $239.00 and gave the company a “buy” rating in a report on Thursday, March 12th. Citigroup lifted their target price on Marathon Petroleum from $182.00 to $210.00 and gave the company a “neutral” rating in a research report on Monday, February 9th. Finally, BMO Capital Markets upped their target price on Marathon Petroleum from $225.00 to $230.00 and gave the stock an “outperform” rating in a report on Tuesday, March 3rd. Ten analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.44.

Insider Buying and Selling

In other Marathon Petroleum news, insider Ricky D. Hessling sold 1,626 shares of Marathon Petroleum stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $228.18, for a total value of $371,020.68. Following the sale, the insider owned 7,525 shares of the company’s stock, valued at approximately $1,717,054.50. The trade was a 17.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 4,473 shares of company stock valued at $1,015,428 over the last 90 days. Insiders own 0.21% of the company’s stock.

About Marathon Petroleum

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.