Marathon Petroleum Co. (NYSE:MPC) Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Marathon Petroleum Co. (NYSE:MPCFree Report) by 3.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,142 shares of the oil and gas company’s stock after purchasing an additional 1,254 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Marathon Petroleum were worth $5,924,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC raised its position in Marathon Petroleum by 121,130.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,942,426 shares of the oil and gas company’s stock worth $458,859,000 after acquiring an additional 3,939,174 shares during the period. Norges Bank acquired a new position in Marathon Petroleum during the fourth quarter worth $453,190,000. Arrowstreet Capital Limited Partnership raised its position in Marathon Petroleum by 22,119.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,227,468 shares of the oil and gas company’s stock worth $190,449,000 after acquiring an additional 2,217,443 shares during the period. Bank of Montreal Can acquired a new position in Marathon Petroleum during the second quarter worth $132,795,000. Finally, Point72 Asset Management L.P. raised its position in Marathon Petroleum by 246.4% during the second quarter. Point72 Asset Management L.P. now owns 1,216,688 shares of the oil and gas company’s stock worth $141,866,000 after acquiring an additional 865,418 shares during the period. 74.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Morgan Stanley upped their price objective on shares of Marathon Petroleum from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 17th. StockNews.com assumed coverage on shares of Marathon Petroleum in a report on Thursday, October 5th. They set a “buy” rating for the company. Wells Fargo & Company raised shares of Marathon Petroleum from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $159.00 to $169.00 in a report on Thursday, December 14th. Piper Sandler upped their target price on shares of Marathon Petroleum from $146.00 to $148.00 and gave the stock a “neutral” rating in a report on Thursday, October 5th. Finally, Mizuho dropped their target price on shares of Marathon Petroleum from $178.00 to $166.00 and set a “neutral” rating for the company in a report on Friday, October 6th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and an average price target of $159.15.

Get Our Latest Stock Analysis on Marathon Petroleum

Insider Transactions at Marathon Petroleum

In other news, VP Carl Kristopher Hagedorn sold 1,436 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $146.81, for a total transaction of $210,819.16. Following the sale, the vice president now owns 5,480 shares of the company’s stock, valued at $804,518.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Carl Kristopher Hagedorn sold 1,436 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $146.81, for a total transaction of $210,819.16. Following the sale, the vice president now owns 5,480 shares of the company’s stock, valued at $804,518.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kim K.W. Rucker sold 6,000 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $152.43, for a total transaction of $914,580.00. Following the sale, the director now directly owns 24,098 shares in the company, valued at approximately $3,673,258.14. The disclosure for this sale can be found here. Corporate insiders own 0.28% of the company’s stock.

Marathon Petroleum Trading Up 1.3 %

Shares of MPC stock opened at $157.46 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.67 and a quick ratio of 1.20. The firm has a market cap of $59.79 billion, a PE ratio of 5.88, a price-to-earnings-growth ratio of 1.77 and a beta of 1.50. The company has a 50-day moving average of $149.47 and a two-hundred day moving average of $143.79. Marathon Petroleum Co. has a 1-year low of $104.32 and a 1-year high of $162.31.

Marathon Petroleum (NYSE:MPCGet Free Report) last announced its earnings results on Tuesday, October 31st. The oil and gas company reported $8.14 earnings per share for the quarter, topping the consensus estimate of $7.79 by $0.35. The company had revenue of $41.58 billion during the quarter, compared to analyst estimates of $37.67 billion. Marathon Petroleum had a net margin of 7.52% and a return on equity of 34.66%. Marathon Petroleum’s revenue was down 12.0% compared to the same quarter last year. During the same quarter last year, the firm posted $7.81 earnings per share. On average, analysts predict that Marathon Petroleum Co. will post 21.88 EPS for the current year.

Marathon Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 11th. Shareholders of record on Thursday, November 16th were paid a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend was Wednesday, November 15th. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.75. Marathon Petroleum’s dividend payout ratio (DPR) is 12.32%.

Marathon Petroleum announced that its Board of Directors has authorized a stock buyback plan on Wednesday, October 25th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to reacquire up to 8.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

About Marathon Petroleum

(Free Report)

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. It operates in two segments, Refining & Marketing, and Midstream. 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.

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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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