Meiji Yasuda Asset Management Co Ltd. bought a new position in shares of Marathon Petroleum Corporation (NYSE:MPC – Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 9,674 shares of the oil and gas company’s stock, valued at approximately $2,473,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MPC. Bell Investment Advisors Inc bought a new stake in shares of Marathon Petroleum during the second quarter worth approximately $27,000. Navalign LLC bought a new stake in shares of Marathon Petroleum during the 4th quarter valued at $30,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Marathon Petroleum in the 4th quarter valued at $31,000. Berbice Capital Management LLC boosted its position 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 last quarter. Finally, WFA of San Diego LLC bought a new position in Marathon Petroleum during the second quarter worth about $33,000. 76.77% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on MPC shares. Wells Fargo & Company upped their price target on Marathon Petroleum from $344.00 to $359.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Weiss Ratings upgraded shares of Marathon Petroleum from a “hold (c+)” rating to a “buy (b)” rating in a report on Wednesday, August 5th. Citigroup increased their target price on shares of Marathon Petroleum from $303.00 to $318.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Raymond James Financial boosted their price target on shares of Marathon Petroleum from $300.00 to $335.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Finally, Bank of America raised their price objective on Marathon Petroleum from $224.00 to $260.00 in a research note on Tuesday, May 26th. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and an average price target of $312.50.
Marathon Petroleum Trading Up 0.4%
Shares of NYSE:MPC opened at $362.34 on Tuesday. The firm has a market cap of $105.78 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 0.23 and a beta of 0.52. Marathon Petroleum Corporation has a 12 month low of $161.93 and a 12 month high of $367.60. The company’s fifty day simple moving average is $299.48 and its 200 day simple moving average is $256.01. 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 announced its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, topping analysts’ consensus estimates of $14.27 by $3.46. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The firm had revenue of $51.99 billion during the quarter, compared to analyst estimates of $40.87 billion. During the same period in the prior year, the business earned $3.96 EPS. The company’s revenue for the quarter was up 53.5% compared to the same quarter last year. As a group, research analysts forecast that Marathon Petroleum Corporation will post 46.66 EPS for the current fiscal year.
Marathon Petroleum Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio (DPR) is currently 13.75%.
Insider Buying and Selling at Marathon Petroleum
In other news, SVP Shawn M. Lyon sold 2,500 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $350.00, for a total value of $875,000.00. Following the sale, the senior vice president owned 12,619 shares of the company’s stock, valued at $4,416,650. The trade was a 16.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the completion of the transaction, the vice president directly owned 16,900 shares of the company’s stock, valued at approximately $4,543,058. This trade represents a 27.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 26,032 shares of company stock worth $8,744,213. Corporate insiders own 0.17% of the company’s stock.
Marathon Petroleum 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.
Recommended Stories
- Five stocks we like better than Marathon Petroleum
- Visa Just Put Hims & Hers in the Penalty Box—Here’s Why It Matters
- Treasury Yields Are Surging Again: 3 Stocks That Could Feel the Pain
- Snowflake Could Be Headed for New Highs Despite Insider Selling
- MongoDB Is Surging—And the Next Catalyst Is Almost Here
Want to see what other hedge funds are holding MPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Petroleum Corporation (NYSE:MPC – Free Report).
Receive News & Ratings for Marathon Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marathon Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.
