Cardinal Point Capital Management ULC Decreases Position in Marathon Petroleum Corporation $MPC

Cardinal Point Capital Management ULC lowered its stake in Marathon Petroleum Corporation (NYSE:MPC) by 80.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,000 shares of the oil and gas company’s stock after selling 4,207 shares during the quarter. Cardinal Point Capital Management ULC’s holdings in Marathon Petroleum were worth $244,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Creative Financial Designs Inc. ADV boosted its holdings in Marathon Petroleum by 2.6% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 2,050 shares of the oil and gas company’s stock worth $333,000 after acquiring an additional 51 shares during the period. IFG Advisory LLC raised its stake in shares of Marathon Petroleum by 1.5% during the fourth quarter. IFG Advisory LLC now owns 3,429 shares of the oil and gas company’s stock valued at $558,000 after purchasing an additional 51 shares during the period. Eagle Bluffs Wealth Management LLC lifted its position in shares of Marathon Petroleum by 1.2% during the fourth quarter. Eagle Bluffs Wealth Management LLC now owns 4,357 shares of the oil and gas company’s stock worth $709,000 after purchasing an additional 52 shares in the last quarter. Auxano Advisors LLC lifted its position in shares of Marathon Petroleum by 2.1% during the fourth quarter. Auxano Advisors LLC now owns 2,630 shares of the oil and gas company’s stock worth $428,000 after purchasing an additional 55 shares in the last quarter. Finally, Onyx Bridge Wealth Group LLC boosted its stake in shares of Marathon Petroleum by 4.7% in the fourth quarter. Onyx Bridge Wealth Group LLC now owns 1,253 shares of the oil and gas company’s stock valued at $204,000 after purchasing an additional 56 shares during the period. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Up 2.5%

NYSE:MPC opened at $252.79 on Friday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.73 and a current ratio of 1.18. The company has a market capitalization of $73.80 billion, a price-to-earnings ratio of 16.50, a price-to-earnings-growth ratio of 0.38 and a beta of 0.52. Marathon Petroleum Corporation has a one year low of $158.00 and a one year high of $272.46. The stock has a 50-day simple moving average of $247.18 and a 200 day simple moving average of $216.09.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.91. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The firm had revenue of $34.20 billion for the quarter, compared to analysts’ expectations of $33.42 billion. During the same quarter in the prior year, the firm posted ($0.24) earnings per share. Marathon Petroleum’s revenue for the quarter was up 8.5% compared to the same quarter last year. Sell-side analysts predict that Marathon Petroleum Corporation will post 31.35 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Wednesday, May 20th. Marathon Petroleum’s dividend payout ratio is currently 26.11%.

Insider Activity

In related news, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction 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 transaction, the vice president directly owned 16,900 shares in the company, valued at $4,543,058. This trade represents a 27.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on MPC. Piper Sandler lifted their price target on shares of Marathon Petroleum from $197.00 to $228.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. Wells Fargo & Company reissued an “overweight” rating and issued a $344.00 price objective on shares of Marathon Petroleum in a research report on Monday, June 15th. JPMorgan Chase & Co. raised their target price on Marathon Petroleum from $235.00 to $257.00 in a research note on Wednesday, May 6th. TD Cowen lifted their target price on Marathon Petroleum to $320.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, Scotiabank boosted their price target on Marathon Petroleum from $174.00 to $210.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 22nd. Ten investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $272.94.

Marathon Petroleum Company 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.