Caisse DE Depot ET Placement DU Quebec Grows Stake in Marathon Petroleum Corporation (MPC)
Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 17.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,051,031 shares of the oil and gas company’s stock after buying an additional 156,800 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned approximately 0.22% of Marathon Petroleum worth $59,190,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. Blue Chip Partners Inc. acquired a new position in shares of Marathon Petroleum during the 2nd quarter valued at about $100,000. Crow Point Partners LLC acquired a new position in shares of Marathon Petroleum during the 3rd quarter valued at about $128,000. First Interstate Bank increased its stake in shares of Marathon Petroleum by 81.1% during the 2nd quarter. First Interstate Bank now owns 2,376 shares of the oil and gas company’s stock valued at $124,000 after acquiring an additional 1,064 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Marathon Petroleum during the 3rd quarter valued at about $135,000. Finally, ClariVest Asset Management LLC purchased a new stake in shares of Marathon Petroleum during the 2nd quarter worth about $143,000. 80.83% of the stock is owned by institutional investors and hedge funds.
In other Marathon Petroleum news, VP C. Michael Palmer sold 11,450 shares of the stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $53.02, for a total value of $607,079.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Raymond L. Brooks sold 13,000 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $62.26, for a total value of $809,380.00. Following the completion of the sale, the vice president now directly owns 32,205 shares in the company, valued at $2,005,083.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 102,028 shares of company stock worth $6,253,447. 1.05% of the stock is currently owned by corporate insiders.
Marathon Petroleum (NYSE:MPC) last announced its earnings results on Thursday, October 26th. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.48 by $0.29. Marathon Petroleum had a return on equity of 8.52% and a net margin of 2.35%. The company had revenue of $19.36 billion for the quarter, compared to analyst estimates of $19.38 billion. During the same period in the prior year, the company posted $0.58 EPS. Marathon Petroleum’s quarterly revenue was up 17.6% on a year-over-year basis. analysts anticipate that Marathon Petroleum Corporation will post 3.8 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Thursday, November 16th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date is Wednesday, November 15th. Marathon Petroleum’s payout ratio is 49.08%.
A number of analysts have recently issued reports on MPC shares. BidaskClub cut Marathon Petroleum from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 9th. Jefferies Group set a $65.00 target price on Marathon Petroleum and gave the stock a “buy” rating in a report on Friday, August 25th. Royal Bank Of Canada reiterated a “buy” rating and set a $71.00 target price on shares of Marathon Petroleum in a report on Thursday, August 31st. Scotiabank reiterated a “hold” rating and set a $55.00 target price on shares of Marathon Petroleum in a report on Friday, September 1st. Finally, ValuEngine upgraded Marathon Petroleum from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $65.54.
Marathon Petroleum Profile
Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.
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