Marathon Petroleum Corporation $MPC Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. decreased its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC — Free Report) by 9.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 99,022 shares of the oil and gas company’s stock after selling 10,034 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Marathon Petroleum were worth $19,148,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Delos Wealth Advisors LLC bought a new stake in shares of Marathon Petroleum in the 2nd quarter worth approximately $25,000. Activest Wealth Management increased its position in Marathon Petroleum by 290.2% in the second quarter. Activest Wealth Management now owns 160 shares of the oil and gas company’s stock worth $27,000 after buying an additional 119 shares during the period. NewSquare Capital LLC lifted its stake in Marathon Petroleum by 103.1% in the second quarter. NewSquare Capital LLC now owns 199 shares of the oil and gas company’s stock valued at $33,000 after buying an additional 101 shares during the last quarter. WFA of San Diego LLC bought a new stake in Marathon Petroleum in the second quarter valued at $33,000. Finally, Transce3nd LLC grew its position in shares of Marathon Petroleum by 10,250.0% during the second quarter. Transce3nd LLC now owns 207 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 205 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. BMO Capital Markets cut their price objective on shares of Marathon Petroleum from $208.00 to $200.00 and set an “outperform” rating on the stock in a research report on Monday, January 12th. Mizuho lifted their price target on Marathon Petroleum from $198.00 to $205.00 and gave the company a “neutral” rating in a report on Tuesday, January 13th. Scotiabank reissued an “outperform” rating and issued a $174.00 price objective on shares of Marathon Petroleum in a report on Friday, January 16th. Piper Sandler lowered their target price on Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating on the stock in a research report on Thursday, January 8th. Finally, TD Cowen reduced their price target on Marathon Petroleum from $195.00 to $183.00 and set a “buy” rating for the company in a research report on Tuesday, January 20th. Nine analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, Marathon Petroleum has an average rating of “Hold” and a consensus target price of $196.67.

View Our Latest Stock Report on Marathon Petroleum

Marathon Petroleum Stock Performance

MPC opened at $175.39 on Friday. The business has a 50 day moving average price of $179.65 and a two-hundred day moving average price of $180.71. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.32 and a quick ratio of 0.79. The company has a market capitalization of $52.72 billion, a price-to-earnings ratio of 18.70, a price-to-earnings-growth ratio of 0.76 and a beta of 0.74. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $202.29.

Marathon Petroleum (NYSE:MPC — Get Free Report) last posted its quarterly earnings data on Tuesday, November 4th. The oil and gas company reported $3.01 EPS for the quarter, topping analysts’ consensus estimates of $3.00 by $0.01. Marathon Petroleum had a return on equity of 9.76% and a net margin of 2.13%.The company had revenue of $34.81 billion for the quarter, compared to the consensus estimate of $31.06 billion. Research analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 19th were given a dividend of $1.00 per share. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.91. The ex-dividend date was Wednesday, November 19th. This represents a $4.00 annualized dividend and a dividend yield of 2.3%. Marathon Petroleum’s payout ratio is 42.64%.

About Marathon Petroleum

(Free Report)

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.

Further Reading

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