Ontario Teachers Pension Plan Board Cuts Position in Marathon Petroleum Corp (MPC)

Ontario Teachers Pension Plan Board reduced its stake in Marathon Petroleum Corp (NYSE:MPC) by 17.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 198,859 shares of the oil and gas company’s stock after selling 41,666 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Marathon Petroleum were worth $15,903,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Polaris Greystone Financial Group LLC lifted its position in Marathon Petroleum by 40,590.6% during the 3rd quarter. Polaris Greystone Financial Group LLC now owns 310,062 shares of the oil and gas company’s stock worth $24,796,000 after buying an additional 309,300 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its position in Marathon Petroleum by 27.6% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 81,964 shares of the oil and gas company’s stock worth $6,555,000 after buying an additional 17,733 shares in the last quarter. Cypress Capital Group lifted its position in Marathon Petroleum by 184.3% during the 2nd quarter. Cypress Capital Group now owns 27,957 shares of the oil and gas company’s stock worth $1,961,000 after buying an additional 18,124 shares in the last quarter. First Trust Advisors LP lifted its position in Marathon Petroleum by 60.2% during the 3rd quarter. First Trust Advisors LP now owns 624,380 shares of the oil and gas company’s stock worth $49,932,000 after buying an additional 234,641 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its position in Marathon Petroleum by 170.3% during the 3rd quarter. Quadrant Capital Group LLC now owns 3,209 shares of the oil and gas company’s stock worth $244,000 after buying an additional 2,022 shares in the last quarter. 83.16% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Steven A. Davis purchased 2,500 shares of the firm’s stock in a transaction that occurred on Monday, November 19th. The shares were acquired at an average price of $62.20 per share, for a total transaction of $155,500.00. Following the purchase, the director now owns 16,462 shares in the company, valued at $1,023,936.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.09% of the stock is currently owned by corporate insiders.

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a report on Tuesday, September 11th. Citigroup upped their target price on shares of Marathon Petroleum from $100.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, October 16th. Goldman Sachs Group assumed coverage on shares of Marathon Petroleum in a report on Tuesday, October 2nd. They issued a “conviction-buy” rating on the stock. Tudor Pickering raised shares of Marathon Petroleum from a “hold” rating to a “buy” rating in a report on Thursday, October 11th. Finally, Barclays assumed coverage on shares of Marathon Petroleum in a report on Wednesday, October 3rd. They issued an “overweight” rating and a $125.00 target price on the stock. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Marathon Petroleum currently has an average rating of “Buy” and a consensus price target of $91.44.

Shares of MPC opened at $62.50 on Friday. Marathon Petroleum Corp has a 52 week low of $60.64 and a 52 week high of $88.45. The stock has a market capitalization of $44.03 billion, a P/E ratio of 16.45, a P/E/G ratio of 0.88 and a beta of 1.50. The company has a current ratio of 1.65, a quick ratio of 1.09 and a debt-to-equity ratio of 0.97.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Thursday, November 1st. The oil and gas company reported $1.70 EPS for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.02. Marathon Petroleum had a net margin of 4.48% and a return on equity of 12.28%. The business had revenue of $23.13 billion for the quarter, compared to analyst estimates of $23.20 billion. During the same quarter in the prior year, the business earned $1.77 EPS. Marathon Petroleum’s quarterly revenue was up 19.3% on a year-over-year basis. Equities analysts expect that Marathon Petroleum Corp will post 5.06 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Wednesday, November 21st will be paid a $0.46 dividend. The ex-dividend date of this dividend is Tuesday, November 20th. This represents a $1.84 dividend on an annualized basis and a yield of 2.94%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 48.42%.

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About Marathon Petroleum

Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.

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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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