OMERS ADMINISTRATION Corp Buys 5,029 Shares of Marathon Petroleum Corporation $MPC

OMERS ADMINISTRATION Corp grew its stake in Marathon Petroleum Corporation (NYSE:MPC) by 20.8% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 29,191 shares of the oil and gas company’s stock after buying an additional 5,029 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Marathon Petroleum were worth $7,128,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in MPC. Teachers Retirement System of The State of Kentucky increased its stake in shares of Marathon Petroleum by 570.7% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 168,644 shares of the oil and gas company’s stock worth $41,180,000 after purchasing an additional 143,500 shares in the last quarter. Pictet Asset Management Holding SA lifted its stake in shares of Marathon Petroleum by 31.0% during the 1st quarter. Pictet Asset Management Holding SA now owns 213,545 shares of the oil and gas company’s stock valued at $52,146,000 after buying an additional 50,521 shares in the last quarter. USA Financial Formulas bought a new position in Marathon Petroleum in the 4th quarter worth $791,000. North Dakota State Investment Board purchased a new stake in Marathon Petroleum in the 4th quarter worth $1,714,000. Finally, KBC Group NV increased its stake in Marathon Petroleum by 22.4% in the 4th quarter. KBC Group NV now owns 225,837 shares of the oil and gas company’s stock worth $36,728,000 after buying an additional 41,259 shares in the last quarter. Institutional investors own 76.77% of the company’s stock.

Insider Activity

In other news, VP Michael A. Henschen II sold 6,336 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the sale, the vice president directly owned 16,900 shares of the company’s stock, valued at $4,543,058. This represents a 27.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is owned by company insiders.

Analysts Set New Price Targets

MPC has been the topic of several research analyst reports. Wall Street Zen upgraded Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 10th. Zacks Research cut Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 17th. Jefferies Financial Group set a $335.00 target price on Marathon Petroleum and gave the company a “buy” rating in a research note on Sunday, July 12th. Raymond James Financial boosted their price target on Marathon Petroleum from $300.00 to $335.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Finally, TD Cowen upped their price target on Marathon Petroleum from $315.00 to $357.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Eleven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $298.69.

Marathon Petroleum Stock Down 0.0%

MPC opened at $309.14 on Monday. The company has a market capitalization of $90.25 billion, a PE ratio of 20.18, a price-to-earnings-growth ratio of 0.20 and a beta of 0.52. The firm has a 50-day simple moving average of $268.66 and a two-hundred day simple moving average of $233.03. The company has a quick ratio of 0.73, a current ratio of 1.18 and a debt-to-equity ratio of 1.31. Marathon Petroleum Corporation has a 52 week low of $158.00 and a 52 week high of $326.92.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.91. The firm had revenue of $34.20 billion for the quarter, compared to analysts’ expectations of $33.42 billion. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The business’s revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.24) earnings per share. Analysts forecast that Marathon Petroleum Corporation will post 43.19 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were paid a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $4.00 dividend on an annualized basis and a yield of 1.3%. Marathon Petroleum’s payout ratio is presently 26.11%.

About Marathon Petroleum

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.