Bank of Montreal Can Lowers Position in Marathon Petroleum Co. (NYSE:MPC)

Bank of Montreal Can trimmed its stake in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 56.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 574,464 shares of the oil and gas company's stock after selling 754,958 shares during the period. Bank of Montreal Can owned about 0.18% of Marathon Petroleum worth $80,138,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MPC. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Marathon Petroleum during the 4th quarter valued at about $27,000. Asset Planning Inc acquired a new stake in Marathon Petroleum in the 4th quarter valued at about $28,000. Sierra Ocean LLC bought a new position in Marathon Petroleum in the 4th quarter worth approximately $31,000. Cape Investment Advisory Inc. lifted its stake in shares of Marathon Petroleum by 762.9% during the fourth quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company's stock valued at $42,000 after acquiring an additional 267 shares during the period. Finally, OFI Invest Asset Management bought a new position in shares of Marathon Petroleum in the 4th quarter valued at about $44,000. Institutional investors own 76.77% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on MPC. Wells Fargo & Company dropped their price objective on Marathon Petroleum from $185.00 to $175.00 and set an "overweight" rating for the company in a report on Friday. Piper Sandler dropped their price target on Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating on the stock in a research note on Friday, March 7th. Mizuho reduced their target price on shares of Marathon Petroleum from $175.00 to $174.00 and set a "neutral" rating for the company in a report on Monday, December 16th. Raymond James decreased their price target on Marathon Petroleum from $193.00 to $183.00 and set a "strong-buy" rating for the company in a research note on Wednesday, April 9th. Finally, Scotiabank dropped their target price on shares of Marathon Petroleum from $169.00 to $147.00 and set a "sector outperform" rating on the stock in a report on Friday. One analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Marathon Petroleum has a consensus rating of "Moderate Buy" and a consensus price target of $177.21.

Marathon Petroleum Price Performance

NYSE MPC traded up $1.33 during midday trading on Monday, hitting $124.76. The company had a trading volume of 670,458 shares, compared to its average volume of 2,682,642. The company has a market capitalization of $38.87 billion, a PE ratio of 12.56, a P/E/G ratio of 3.11 and a beta of 1.04. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. Marathon Petroleum Co. has a twelve month low of $115.10 and a twelve month high of $210.80. The firm has a 50-day moving average price of $143.65 and a 200-day moving average price of $148.71.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, beating analysts' consensus estimates of $0.06 by $0.71. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The company had revenue of $33.47 billion for the quarter, compared to the consensus estimate of $31.94 billion. During the same period last year, the company posted $3.98 EPS. The firm's quarterly revenue was down 9.1% compared to the same quarter last year. As a group, analysts anticipate that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Wednesday, February 19th were given a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $3.64 annualized dividend and a yield of 2.92%. Marathon Petroleum's dividend payout ratio is presently 36.66%.

Insider Activity at Marathon Petroleum

In related news, Director Evan Bayh acquired 1,000 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average price of $133.70 per share, for a total transaction of $133,700.00. Following the completion of the acquisition, the director now owns 69,305 shares of the company's stock, valued at approximately $9,266,078.50. This trade represents a 1.46 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ricky D. Hessling purchased 2,000 shares of the business's stock in a transaction on Tuesday, March 11th. The stock was purchased at an average price of $134.72 per share, for a total transaction of $269,440.00. Following the acquisition, the insider now owns 12,162 shares of the company's stock, valued at approximately $1,638,464.64. This represents a 19.68 % increase in their position. The disclosure for this purchase can be found here. 0.21% of the stock is currently owned by company insiders.

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.