Marathon Petroleum Co. (NYSE:MPC) Shares Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp raised its position in Marathon Petroleum Co. (NYSE:MPC) by 29.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 208,803 shares of the oil and gas company’s stock after acquiring an additional 47,589 shares during the period. Mackenzie Financial Corp owned approximately 0.05% of Marathon Petroleum worth $30,978,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in MPC. Morgan Stanley increased its holdings in shares of Marathon Petroleum by 1.1% in the 4th quarter. Morgan Stanley now owns 7,851,320 shares of the oil and gas company’s stock valued at $913,815,000 after purchasing an additional 85,809 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Marathon Petroleum by 1.0% in the 3rd quarter. Northern Trust Corp now owns 4,526,814 shares of the oil and gas company’s stock valued at $685,088,000 after purchasing an additional 43,989 shares in the last quarter. Raymond James & Associates increased its holdings in shares of Marathon Petroleum by 2.4% in the 4th quarter. Raymond James & Associates now owns 4,102,057 shares of the oil and gas company’s stock valued at $608,581,000 after purchasing an additional 96,753 shares in the last quarter. Moneta Group Investment Advisors LLC increased its holdings in shares of Marathon Petroleum by 121,130.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,942,426 shares of the oil and gas company’s stock valued at $458,859,000 after purchasing an additional 3,939,174 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Marathon Petroleum in the 4th quarter valued at about $453,190,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Barclays raised their target price on shares of Marathon Petroleum from $168.00 to $221.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Wells Fargo & Company raised their target price on shares of Marathon Petroleum from $214.00 to $227.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Raymond James raised their target price on shares of Marathon Petroleum from $175.00 to $185.00 and gave the company a “strong-buy” rating in a report on Wednesday, January 31st. Mizuho lifted their price target on shares of Marathon Petroleum from $201.00 to $202.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Finally, StockNews.com raised shares of Marathon Petroleum from a “hold” rating to a “buy” rating in a research report on Saturday, March 9th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Marathon Petroleum has an average rating of “Moderate Buy” and a consensus price target of $193.77.

Marathon Petroleum Price Performance

MPC opened at $202.42 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.59 and a debt-to-equity ratio of 0.83. Marathon Petroleum Co. has a 52-week low of $104.32 and a 52-week high of $221.11. The company has a 50 day moving average of $188.46 and a two-hundred day moving average of $164.38. The company has a market cap of $72.94 billion, a P/E ratio of 8.60, a P/E/G ratio of 1.94 and a beta of 1.52.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, January 30th. The oil and gas company reported $3.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $1.77. Marathon Petroleum had a net margin of 6.44% and a return on equity of 30.58%. The company had revenue of $36.26 billion during the quarter, compared to the consensus estimate of $34.90 billion. During the same period in the previous year, the firm earned $6.65 earnings per share. Marathon Petroleum’s revenue for the quarter was down 8.9% on a year-over-year basis. On average, analysts expect that Marathon Petroleum Co. will post 17.53 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Wednesday, February 21st were given a dividend of $0.825 per share. The ex-dividend date was Tuesday, February 20th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.63%. Marathon Petroleum’s payout ratio is currently 14.02%.

Insider Transactions at Marathon Petroleum

In other news, Director Kim K.W. Rucker sold 1,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $170.35, for a total transaction of $170,350.00. Following the transaction, the director now directly owns 23,446 shares of the company’s stock, valued at $3,994,026.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.21% of the company’s stock.

About Marathon Petroleum

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.