Marathon Petroleum Co. (NYSE:MPC) Shares Acquired by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC grew its stake in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) by 65.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 137,188 shares of the oil and gas company's stock after acquiring an additional 54,125 shares during the quarter. CIBC Private Wealth Group LLC's holdings in Marathon Petroleum were worth $19,526,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Kohmann Bosshard Financial Services LLC acquired a new position in Marathon Petroleum during the fourth quarter valued at approximately $27,000. True Wealth Design LLC lifted its holdings in shares of Marathon Petroleum by 672.7% during the 3rd quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company's stock valued at $28,000 after acquiring an additional 148 shares in the last quarter. Asset Planning Inc purchased a new stake in Marathon Petroleum during the 4th quarter worth $28,000. Sierra Ocean LLC acquired a new stake in Marathon Petroleum in the 4th quarter valued at $31,000. Finally, 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 worth $42,000 after purchasing an additional 267 shares in the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Performance

Shares of MPC traded down $5.86 during mid-day trading on Friday, hitting $122.73. The stock had a trading volume of 4,383,782 shares, compared to its average volume of 2,650,266. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. The company has a market cap of $38.24 billion, a PE ratio of 12.32, a PEG ratio of 3.11 and a beta of 1.39. Marathon Petroleum Co. has a fifty-two week low of $116.08 and a fifty-two week high of $221.11. The company's fifty day simple moving average is $148.02 and its two-hundred day simple moving average is $151.05.

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Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, topping 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 analysts' expectations of $31.94 billion. During the same period in the prior year, the company earned $3.98 earnings per share. The firm's revenue was down 9.1% compared to the same quarter last year. On average, equities analysts expect that Marathon Petroleum Co. will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Wednesday, February 19th were paid a $0.91 dividend. The ex-dividend date was Wednesday, February 19th. This represents a $3.64 dividend on an annualized basis and a yield of 2.97%. Marathon Petroleum's payout ratio is currently 36.66%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Piper Sandler lowered their target price on Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating for the company in a research note on Friday, March 7th. Raymond James reiterated a "strong-buy" rating and set a $193.00 price objective on shares of Marathon Petroleum in a research note on Thursday, March 27th. Mizuho reduced their target price on shares of Marathon Petroleum from $175.00 to $174.00 and set a "neutral" rating on the stock in a research report on Monday, December 16th. Tudor Pickering raised shares of Marathon Petroleum from a "strong sell" rating to a "hold" rating in a report on Tuesday, February 4th. Finally, Barclays boosted their price objective on shares of Marathon Petroleum from $159.00 to $161.00 and gave the stock an "overweight" rating in a report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Marathon Petroleum has an average rating of "Moderate Buy" and a consensus target price of $180.29.

Insider Activity

In other news, Director Evan Bayh bought 1,000 shares of the firm's stock in a transaction on Wednesday, March 5th. The stock was purchased at an average price of $133.70 per share, for a total transaction of $133,700.00. Following the transaction, the director now owns 69,305 shares in the company, valued at approximately $9,266,078.50. This trade represents a 1.46 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Ricky D. Hessling purchased 2,000 shares of the business's stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average cost 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. The trade was a 19.68 % increase in their position. The disclosure for this purchase can be found here. 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.