Daiichi Life Insurance Co. Ltd. acquired a new position in Marathon Petroleum Corporation (NYSE:MPC – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,525 shares of the oil and gas company’s stock, valued at approximately $1,668,000.
Several other hedge funds have also recently made changes to their positions in the business. Bell Investment Advisors Inc bought a new position in shares of Marathon Petroleum in the 2nd quarter valued at about $27,000. Navalign LLC bought a new stake in Marathon Petroleum during the fourth quarter worth approximately $30,000. Kohmann Bosshard Financial Services LLC purchased a new stake in Marathon Petroleum during the fourth quarter valued at approximately $31,000. Berbice Capital Management LLC boosted its holdings in shares of Marathon Petroleum by 100.0% in the 4th quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 100 shares during the period. Finally, WFA of San Diego LLC bought a new position in shares of Marathon Petroleum during the 2nd quarter valued at approximately $33,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of brokerages recently issued reports on MPC. BMO Capital Markets restated an “outperform” rating on shares of Marathon Petroleum in a research report on Friday, June 12th. Morgan Stanley boosted their price objective on shares of Marathon Petroleum from $233.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. UBS Group reissued a “buy” rating and issued a $321.00 target price on shares of Marathon Petroleum in a research note on Friday, July 10th. Piper Sandler lifted their price target on shares of Marathon Petroleum from $343.00 to $344.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Finally, Evercore set a $330.00 price target on shares of Marathon Petroleum in a report on Wednesday, August 5th. Twelve research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $312.50.
Marathon Petroleum Stock Performance
MPC stock opened at $362.18 on Monday. Marathon Petroleum Corporation has a twelve month low of $161.93 and a twelve month high of $367.60. The firm has a market cap of $105.73 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 0.23 and a beta of 0.52. The business’s fifty day simple moving average is $297.25 and its two-hundred day simple moving average is $254.78. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19.
Marathon Petroleum (NYSE:MPC – Get Free Report) last issued its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $14.27 by $3.46. The firm had revenue of $51.99 billion during 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 business’s revenue was up 53.5% on a year-over-year basis. During the same period in the previous year, the firm earned $3.96 earnings per share. Analysts predict that Marathon Petroleum Corporation will post 46.66 earnings per share for the current year.
Marathon Petroleum Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio is currently 13.75%.
Insider Transactions at Marathon Petroleum
In related news, VP Michael A. Henschen II sold 6,336 shares of the business’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 value of $1,703,243.52. Following the completion of the sale, the vice president owned 16,900 shares in the company, valued at approximately $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Shawn M. Lyon sold 2,500 shares of the stock in a transaction that occurred on 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. This trade represents a 16.54% decrease in their position. The SEC filing for this sale provides additional information. 0.17% of the stock is owned by corporate insiders.
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.
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