Nomura Asset Management Co. Ltd. Raises Stock Position in Marathon Petroleum Corporation $MPC

Nomura Asset Management Co. Ltd. boosted its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 8.1% in the second quarter, HoldingsChannel reports. The firm owned 157,943 shares of the oil and gas company’s stock after buying an additional 11,790 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Marathon Petroleum were worth $26,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jump Financial LLC boosted its stake in shares of Marathon Petroleum by 128.0% in the first quarter. Jump Financial LLC now owns 8,663 shares of the oil and gas company’s stock worth $1,262,000 after buying an additional 4,863 shares during the last quarter. Concord Asset Management LLC VA purchased a new position in Marathon Petroleum during the second quarter valued at approximately $412,000. Journey Strategic Wealth LLC lifted its holdings in Marathon Petroleum by 105.0% in the first quarter. Journey Strategic Wealth LLC now owns 8,582 shares of the oil and gas company’s stock valued at $1,250,000 after acquiring an additional 4,396 shares during the period. FSM Wealth Advisors LLC purchased a new stake in Marathon Petroleum in the 2nd quarter worth approximately $685,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Marathon Petroleum by 12.6% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 578,641 shares of the oil and gas company’s stock worth $84,302,000 after purchasing an additional 64,849 shares during the period. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Stock Up 1.8%

Shares of NYSE MPC opened at $199.44 on Wednesday. The firm has a market cap of $59.95 billion, a price-to-earnings ratio of 21.26, a price-to-earnings-growth ratio of 3.74 and a beta of 0.90. The company’s 50-day simple moving average is $190.28 and its 200-day simple moving average is $175.35. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 1.31. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $202.29.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share for the quarter, beating analysts’ consensus estimates of $3.00 by $0.01. Marathon Petroleum had a net margin of 2.13% and a return on equity of 9.76%. The firm had revenue of $34.81 billion for the quarter, compared to analyst estimates of $31.06 billion. Equities analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 19th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.0%. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.91. The ex-dividend date is Wednesday, November 19th. Marathon Petroleum’s dividend payout ratio (DPR) is 38.81%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MPC shares. Raymond James Financial set a $200.00 target price on shares of Marathon Petroleum in a research note on Tuesday, November 4th. Wall Street Zen upgraded shares of Marathon Petroleum from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. TD Cowen dropped their target price on Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Barclays lifted their price target on Marathon Petroleum from $194.00 to $202.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Marathon Petroleum in a research report on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $202.14.

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.