OMERS ADMINISTRATION Corp Purchases Shares of 32,429 Marathon Petroleum Corporation $MPC

OMERS ADMINISTRATION Corp acquired a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 32,429 shares of the oil and gas company’s stock, valued at approximately $8,291,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Solstein Capital LLC acquired a new stake in Marathon Petroleum during the second quarter valued at approximately $26,000. Bell Investment Advisors Inc acquired a new position in Marathon Petroleum in the second quarter worth approximately $27,000. Frazier Financial Advisors LLC acquired a new position in Marathon Petroleum in the second quarter worth approximately $36,000. Main Street Group LTD bought a new position in shares of Marathon Petroleum in the first quarter valued at $35,000. Finally, Cedar Mountain Advisors LLC bought a new position in shares of Marathon Petroleum in the first quarter valued at $40,000. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Price Performance

NYSE MPC opened at $362.34 on Tuesday. The company has a 50 day simple moving average of $299.48 and a 200-day simple moving average of $256.01. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89. The firm has a market capitalization of $105.78 billion, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 0.23 and a beta of 0.52. Marathon Petroleum Corporation has a 52-week low of $161.93 and a 52-week high of $367.60.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, beating the consensus estimate of $14.27 by $3.46. The firm had revenue of $51.99 billion for the quarter, compared to analyst estimates of $40.87 billion. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The company’s revenue for the quarter was up 53.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.96 EPS. Equities research analysts predict that Marathon Petroleum Corporation will post 46.66 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio (DPR) is currently 13.75%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Barclays raised their price objective on Marathon Petroleum from $289.00 to $321.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Raymond James Financial increased their price target on Marathon Petroleum from $300.00 to $335.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Evercore set a $330.00 price objective on Marathon Petroleum in a report on Wednesday, August 5th. Wall Street Zen upgraded shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 10th. Finally, Bank of America lifted their target price on shares of Marathon Petroleum from $224.00 to $260.00 in a research report on Tuesday, May 26th. Twelve research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $312.50.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, insider Molly R. Benson sold 17,196 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $358.57, for a total value of $6,165,969.72. Following the transaction, the insider owned 30,334 shares in the company, valued at $10,876,862.38. The trade was a 36.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Shawn M. Lyon sold 2,500 shares of the company’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $350.00, for a total value of $875,000.00. Following the completion of the transaction, the senior vice president directly owned 12,619 shares in the company, valued at approximately $4,416,650. The trade was a 16.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 26,032 shares of company stock valued at $8,744,213. Insiders own 0.17% of the company’s stock.

Marathon Petroleum Profile

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.